Brand loyalty is increasing, as consumers care more and more about who they’re partnering with.
In today’s digital world, making an impact on the right customers has never been a more competitive feat. You must attract customers right away, or they’ll move on to something else that catches their eye. But once a consumer finds a brand they trust, they’re more likely to remain loyal to that brand and make repeat purchases. Even with so many options available on the internet, brand loyalty is on the rise.
A recent poll shows that almost 9 out of 10 consumers say their brand loyalty has either remained steady or increased over time. And around a quarter of respondents said they were more brand loyal in 2019.
It’s never been more important to focus your marketing efforts around brand loyalty. Here’s where to start.
Focus on retaining customers
A major aspect of brand loyalty is a consumer’s desire to make repeat purchases. The poll referenced above showed that about 68% of consumers characterized brand loyalty as “repeat purchasing.”
In addition, around 36% of respondents said that they will spend more money on products if they are loyal to a brand, so this means that your ability to increase revenue depends on your ability to increase brand loyalty and focus on retaining customers after the initial purchase.
So, how do you focus on retaining customers? Try these five strategies:
- Upsell. Since loyal customers are willing to spend more, try showing them offers that are related to what they’ve shown interest in, like an add-on service or a product that provides additional features for a bit more spend.
- Determine high-quality leads. You want to focus your marketing strategies on high-quality leads that will be more likely to stick around. This requires knowing exactly who your target audience should be, segmenting your audience, and focusing your messaging and outreach efforts around that audience.
- Use the right data. You should be gathering data about your target audience to understand their behaviors and preferences. Make sure the data is up-to-date and tracked across channels. A solution like BDEX can help you make sure you’re using the right data.
- Use predictive analytics. Once you’re tracking data, analyze it to make predictions for the future. How is your audience likely to respond or act? What channels do they interact with the most? These analytics will also help you discover the underlying reasons for high churn rates or low customer retention rates.
Build emotional, personal connections
A crucial component of building brand loyalty is your ability to connect with customers on an emotional level. This is done by creating personalized experiences that show your customers that you understand their desires and can solve problems they’re facing.
You won’t be able to provide personalized messages without the right data. You need access to up-to-the-minute data that allows you to send out a message in real-time to a shopper who’s ready to take an action.
In addition, create special promotions or rewards programs that make your loyal customers feel valued and special. Offer these deals only to customers who have made repeat purchases or have taken an action like joining your email list. This helps you build a solid following and shows customers that their loyalty matters to you.
Customers love getting perks, and happy customers are more likely to return to your brand again and again.
Connecting on social media
Make sure you’re actively connecting with your customers on social media. Create posts that ask your audience questions so they can interact with you and leave comments. Ask them to follow you on Facebook, Instagram, or Twitter. Make sure you post regularly and take advantage of ad programs like Facebook Ads, where you can target certain groups of people with the right messages.
Interacting on social media helps you up your customer service game, too, since your audience can interact with you directly, and you can respond to any positive or negative feedback quickly.
Using data from BDEX
The BDEX Data Exchange Platform provides you with the most accurate data you need, right when you need it. This information allows you to know your audiences better and cater your messages to individuals, not data signals.
The BDEX Identity Graph is key in personalizing your messages. The graph helps you identify the person behind the data, allowing you to make connections across channels and provide more relevant information to your audience.
Omnisource IQ is our Data as a Service platform. It helps you reach customers who are currently in the sales funnel so you can connect with them in real-time. Our data marketplace has over 6 billion unique customer IDs, over 5,500 data categories, more than 800 million mobile ID-to-email matches, and more than a trillion data signals.
Schedule a consultation to learn more about our data and start making more meaningful connections that drive brand loyalty.