12 May Why Brand Loyalty Marketing is Important
Brand loyalty is a customer purchasing products and services from the same brand over and over rather than changing to other brands. Brand loyalty consists of a consumer’s commitment to repurchase or continue to use one brand. It is more than simply repurchasing. Businesses may provide a customer loyalty programs that keeps customers coming back. Customers enjoy the rewards and perks of being a loyal customer.
Marketers know brand loyalty is a key factor is terms of customer retention.
Marketing is geared toward brand loyalty to keep customers coming back to purchase or use your services. It is the ultimate goal a company determines when budgeting. Keep your customers coming back to contribute to the bottom line of your company. Higher sales volumes, premium pricing ability, and retaining rather than seeking customers are the important aspects of brand loyalty.
You can create favorable brand attitudes by having a quality product that solves a problem a consumer is experiencing. Customers must like and need your product in order to develop loyalty to the product. Reinforce habits with marketing tools and campaigns. Customers must be reminded of the value of your brand and encouraged to purchase the product in the future.
It costs about 5 to 10 times more to find a new customer than to keep your existing one. Current customers tend to spend 67% more than new customers do. Keep your customers coming back to your business by using customer loyalty programs that work and add value.
Brand loyalty marketing strategies might include membership cards. Use a combination of hard and soft actions for customer reward programs to add value. You can use registered plastic cards that your loyal customer use to pay for goods and services, give them the codes for product promotion, or use a point system where points are redeemed for addition products.
In today’s smartphone world, using mobile loyalty rewards is highly cost effective. You do not have the expense of printing out physical loyalty cards and hoping the customer has the card with them. The customer almost always has their smartphone with them. Have a loyalty program that is downloaded to a smartphone and offer coupons and percentage discount programs. This type of a reward program keeps customers coming back to your business. You have created brand loyalty.
Get instant rewards for your customer by using Penefit. This card-less system gives you the luxury of lower printing costs and supports multiple reward programs like points, stamps, cash back, membership discounts, and vouchers. It increases brand loyalty and customer engagement. Consumers no longer want to carry around many loyalty cards; they want to use their mobile.
Marketing campaigns can be realigned to include Penefit. Use this program in your marketing efforts. Advertise to customers that they can download this program benefit on their smartphones. Emphasize they no longer need to carry around plastic cards that fill up their wallets and get lost, but just click on the app and bring up today’s discount or points package. You will have happy customers, and brand loyalty is increased.
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