Most of us have at least a few brands to which we are loyal, or we know someone who is a diehard enthusiast for a major, recognizable brand. Strong trademarks and good products can help facilitate this type of relationship, but what's the full underlying science behind brand loyalty? And how can you use this to drive brand loyalty in your own business?
The Value of Brand Loyalty
For a business, brand loyalty is huge. Not only does brand loyalty encourage customers to continue making purchases, representing revenue for your brand, but it also actively discourages them from purchasing from your competitors. Brand loyalty is notoriously difficult to control in a free market, especially if you have many rivals. However, better understanding the science behind it can position you to increase your followers' loyalty.
The Foundation: Recognition and Awareness
Everything is built on the foundation of recognition and awareness. While there is evidence to suggest that people can associate positive experiences with a brand even if they're not consciously aware of that brand, making your brand elements prominent will increase recognition and increase the likelihood that your customers associate their experiences with your brand, specifically.
With a trademark search, you can quickly and easily determine which branding elements are already taken and which ones are available for trademarking.
Trademarking is an important legal process that prevents your competitors from using your brand assets, like your logo, tagline, or signature colors.
Once you solidify your brand identity, you can weave that identity into all of your marketing collateral, your physical buildings, and the background of all your customer interactions.
How People Make Purchasing Decisions
Brand loyalty is something that's typically cultivated over time, with consumers increasingly leaning toward one specific brand for their needs. If you can successfully cater to your target demographics, you'll increase their likelihood of making purchases with your brand repeatedly.
Every individual makes purchasing decisions using a unique combination of considering factors, and these factors may shift when consumers purchase different types of goods and services. Still, most people make decisions with the following in mind.
- Price. If you can get the same product for less at a competing business, you'll probably switch to purchasing from that competing business, at least temporarily. Price is a major threat to brand loyalty, but if you use price strategically, it can also increase brand loyalty; if your brand consistently has the lowest, or nearly the lowest prices, your frugal customers won't want to leave.
- Perceived value. People also need to see perceived value in the goods and services you're selling. It's your job as a brand to prove that what you're offering is worth what you're selling it for; also, if your products are perceived as more valuable than those of your competitors, brand loyalty will be much easier to secure.
- Convenience. We also need to think about convenience. Sometimes, people make purchasing decisions and eventually cultivate brand loyalty simply because something is easy or close to them; why would you drive an hour away when you could buy something online and have it delivered to your door within a day or two?
- Ethics. Increasingly, consumers are making purchasing decisions based on the ethics of the brands they shop with. If your bread is perceived as ethical and sustainable, you'll have an edge over your competition.
- Memories and sentiments. Finally, we need to think about memories and sentiments. If you can give people a warm sense of nostalgia, or make them feel like they truly belong to a community under the umbrella of your brand, loyalty will be much easier to secure.
The Five Core Dimensions of Brand Personality
According to research from USC, there are five dimensions of brand personality to consider. Obviously, these dimensions are going to mean different things to different people, so it's important to choose a combination of traits that best appeals to your target demographics.
The five dimensions are:
- Sincerity
- Excitement
- Competence
- Sophistication
- Ruggedness
Showcasing these personality traits can help you create more brand loyalty among your followers.
How to Foster More Brand Loyalty
If you're looking for ways to measurably improve brand loyalty within your target audience, these strategies are some of your best options:
- Make your branding prominent. Even though consumers can register your brand somewhat unconsciously, it pays to make your branding as prominent as possible, especially if you have easily recognizable trademarks.
- Differentiate and highlight your advantages. Make it clear how and why you're different than your competitors. Differentiate your brand and highlight the advantages that drive decisions in your target demographics.
- Lean into your core brand personality traits. Whatever combination of personality traits your brand embodies, emphasize them across all your messages and experiences.
- Gather (and act on) consumer data. Finally, gather as much consumer data as you can so you can better understand how your customers are making decisions and whether they're staying loyal to your brand. Then, analyze these data and use them to take action.
There is some science behind brand loyalty, but humans are ultimately emotional and unpredictable creatures. No matter how carefully you plan your brand strategy or execute your loyalty-centric marketing campaign, you'll likely see some unexpected developments.
Just keep working actively to provide your customers with the best possible experiences and you'll be in a better position to outmaneuver your rivals.
