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Brand Loyalty & Customer Loyalty: building relation between the consumer & business

 

When you run a successful marketing campaign you make more sales but when you make your buyer happy you build a loyal customer. One of the most difficult aspects of running a business is attracting customers, but maintaining them in this digital era is harder.

What is Customer Loyalty –

In a nutshell, when an individual pick one company’s product or services constantly over their competitors, he/she became loyal towards that business. It generally happens because of the relationship that has been built by good experiences in the past.

Customer generally spend more time and money on the business they are loyal too, not only that they also promote your business by recommending your it to their friends and family, which work as a word-of-mouth marketing.

So Customer become loyal to a business when he gets a better deal, an additional discount on a purchase or a quality product. In general, when he gets value for their money.

What is Brand Loyalty –

Compared to Customer loyalty, brand loyalty is when a customer builds an emotional connection towards a brand. It’s all about perception of an individual towards a brand.

This might be caused when an individual finds the usefulness of a product or services, most of the marketing campaigns are specially build to trigger this emotion with emotional & relatable message.

Difference between Customer Loyalty & brand Loyalty –

Customer loyalty basically revolves around the product pricing and benefits which a customer will get with the product. Whereas brand loyalty revolves more around the positive image build in the mind of the of the customer.

For example – at the time of purchase if we talk about customer loyalty, an individual will look at many criteria’s like product pricing, discounts, special offers and individual budget but in brand loyalty, a customer will purchase the products without thinking about the price as they have complete faith in the business.

For both brand loyalty & customer loyalty, the ultimate goal is to increase the sales, however different marketing strategies has to be adopted to achieve the goal.

 

Understanding Customer Evangelism –

Evangelism is a form of word-of-mouth marketing in which consumers of a particular business believe so strongly in the product or service that they persuade others to purchase and use it.

These customers serve like an advocates for the company and spread the word on its behalf without any personal motive or desire. To understand its important; A friend's product recommendation has a 92 percent trust rating, compared to a 24 percent trust rating for the same company's advertisement.

When it comes to conversion rates and cost-effectiveness, evangelism marketing is a fantastic technique. The only requirement for this technique is loyal customers.

Why customer become loyal to a business –

With the rise of internet almost every company faces tough competition on the market and every customer find dozens of companies selling the similar goods, no one wants to get confused in with these many options, any individual will choose the one particular business which provides better customer experience and value for their money.

Having loyal customers is a win-win situation for everyone involved, the customer wins because now he doesn’t have to spend more time and energy for finding his desires good or services, now he can make the decision more easily from a business he knows and trusts.

The company wins because they got a customer who will continue to purchase their product or services without any additional expense as it costs 5 times more to bring in new customers than to retain a current customer. Clearly, customer loyalty matters.

How reputation plays an important role is customer Loyalty

In today’s present competitive environment, Reputation & Image are the two important factors, and as we stated brand loyalty is all about the perception of customers towards a brand means you have to maintain a positive image of your business.

As the competition is growing businesses have to be in their A-game and any business know that the returning customers are the one responsible for the money flow in the business means Customer Loyalty is what that keep business running.

We are not saying that a good reputation always creates brand loyalty, but bad reputation will always tarnish the loyalty and customer will leave your brand.

Let’s take an example of ‘Tesla’ currently most profitable automobile manufacturer company in world, the value of the Tesla’s shares always relies on the image of his CEO ‘Elon Musk’. If anyone follows the news they can relate with point, even the reason behind the rise of the company is also because of the positive image and strong PR of their CEO.

Also for every industry the relationship between Reputation and Loyalty changes, for example - baby care industry, any individual has limited numbers of children in their lifetime means they only need these products for a short span of their life, for these types of “non-evergreen business” Reputation is more important than brand Loyalty.

In a nutshell, a good business reputation will bring more people to your business, and good customer experience make them loyal towards your business.

And when we talk about reputation management and customer retention you need the Best digital marketing agency in USA for your business, and we at Ethos Global Solutions provides the best digital marketing services to help your business.

About Ethos Global Solutions

To put it another way your potential buyers, returning customers and even loyal customers rely on what the Internet says about you, to help them decide whether or not to purchase your product, or use your services.

Ethos Global Solutions is the BestDigital marketing agency in Dubai with global presence and unmatched results with our clients.

Call us +971-586-555-028 or Visit our website ethosglobalsolutions.com