Loyal Brands Inspire the Loyalty and Passion of their Customers...
Loyal brands become a part of their customers lives because they are meaningful, distinctive, and trustworthy.
A Simple, but Powerful Framework for Creating Loyal Brands...
In today's connected world, building a loyal brand is a company-wide endeavor. It goes right to the heart of what a company stands for, how it behaves, and what value it creates for customers. As a CMO, I found this simple five-step framework very effective in building such a brand.
1. Stand for Something
Develop a core purpose, rooted in improving people's lives, that will inspire employees, customers, and communities alike. more...
2. Be Distinctive
Create distinctive brand assets that people will notice.
3. Create Value for Customers
Earn the right to exist, by creating something that's useful, affordable, and has meaning. more...
4. live the brand
Embed a brand culture that lives and breathes the brand. more...
5. Deliver an engaging Experience
Develop an experience that keeps customers engaged over time, to enable positive memories to form. more…
Loyal Brands Deliver an Experience that Engages their Customers...
In a distracted world, loyal brands seek to engage customers, to gain and hold their attention and enable positive memories to form.
1. generate Enthusiasm
Engaged customers are enthusiastic about the brand, so weave an emotionally engaging story through the customer’s experience.
2. Encourage Participation
Engaged customers actively participate in the brand, so provide reasons and opportunities to interact.
3. Promote Social interaction
Engaged customers interact with others around the brand, so give them a place to meet and look to stimulate conversations.
Cultivating the Habit of Loyalty...
Once a strong, positive network of memories has developed, purchase should be engrained as a habit.
1. Positive Network of Memories
A strong, positive network of memories and associations makes your brand the preferred choice. more
2. Trigger
A cue is needed to prompt the behavior.
3. Reward
The anticipation of a reward provides the motivation.
4. repetition
Habits form over time, so the cycle of trigger and reward needs to be continually repeated for the behavior to become automatic.
Maximizing the Benefits of Loyalty to Create a Circle of Growth...
Once a brand is earning the loyalty of customers, you can strengthen that loyalty and accelerate growth by working with them to create a virtuous circle of growth.
By systematically following such an approach, loyal customers stay longer, spend more, and attract more customers. Costs are reduced and the experience improved, further strengthening loyalty and attracting yet more customers.
1. Encourage retention.
Loyal customers stay longer. Show your appreciation by rewarding them, making them feel special, and staying in touch.
2. Increase spending.
Loyal customers buy more from you. Use what you learn about them to highlight the products and services they are going to find useful.
3. Nurture advocacy.
Loyal customers attract new customers. Encourage them to share their opinions, and make it easy for them to do so.
4. Capture efficiencies.
Loyal customers are more efficient to serve. Work with them to identify opportunities for further efficiencies.
5. Improve the experience.
Use the data customers share to make their personal experience better, and work with them to improve the overall experience for everyone.