This document discusses what makes customers loyal to brands. It defines brand loyalty as repeat purchases of the same brand over time, consisting of both attitudinal and behavioral loyalty. The document outlines eight steps to developing brand loyalty, including focusing on the best customers, listening to customer feedback, understanding customer motivations, and delivering on brand promises. Finally, it notes new challenges in developing loyalty, as consumers are less loyal to brands and moment marketing does little to build lasting relationships.
3. Does Branding matter ?
Company's most valuable assets
Represents the face of the company
Carries a monetary value in the market
Through which public associates with the company
Retention of existing customers
Provides a competitive advantage for the company
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4. What is Brand Loyalty ?
Brand loyalty is a pattern
of consumer behavior
where consumers become
committed to brands and
make repeat purchases from
the same brands over time.
--- Andrew & Yap, 1993
Loyalty consists of both Attitudinal and
Behavioral components
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5. Why is Brand Loyalty required ?
Acceptance of product extensions
Potential new customers
Defense from competitors cutting
of prices
Creating barriers to entry for
firms looking to enter the market
Customers willing to pay high
prices
Existing customers cost much less
to serve
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6. Strategies for Growing a New Brand?
1. Consider overall business strategy.
2. Identify target clients.
3. Research target client group.
4. Develop brand positioning.
5. Establish messaging strategy.
6. Create name, logo and tagline.
7. Develop content marketing strategy.
8. Develop website.
9. Build marketing toolkit.
10. Implement, Track & Adjust.
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7. How is Brand Loyalty developed ?
Eight Steps to Building Brand Loyalty
Step 1: Focus on the best customers
Step 2: Listen to what the customers are saying
Step 3: Understand what makes the customers tick
Step 4: Determine why the customers choose a Brand
Step 5: Be relentless in serving the best customers better than
anyone else
Step 6: Find ways to surprise the best customers
Step 7: Focus on what the Brand does best
Step 8: Deliver on the Brand’s promise
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8. Being Loyal to a Brand
from Customers’ Aspect
Quality
Customer Service
Price
Convenience
Corporate Responsibility
Status Symbol
Management
Nostalgia
Trust
Discounts and Special
Offers
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9. New Challenges in Modern World
Consumers are no longer brand loyal.
Moment marketing does little to develop a brand or
give consumers permission to interact with them.
Armando Azarloza
President, Axis Agency
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a consumer displays behavioral loyalty by buying Coke when there are few alternatives available and attitudinal loyalty when they will not buy an alternative brand when Coke is not available
Learn how they think, feel, and behave towards your brand if you want to build brand loyalty
There is now a greater desire for accountability with business practices, but also in supporting communities outside of the financial side of the business.
it’s not just about complaints—social can also mean you’re always available to help out your customers.
use nostalgia to promote a sense of kinship.
moment marketing capitalizes on having just the right message at just the right moment.