Two of the biggest motivating factors for customers to stay loyal to a brand are good customer service and products that work for them. A strong brand continuously works on improving the customer experience and anticipates customer needs with its products.
3. Positive Word of Mouth Marketing
Did you hear about this? It’s amazing.
When your brand tells a story that people want to hear, they’ll repeat it to friends, family, and strangers at the bus stop. They’re your brand ambassadors. Word-of-mouth advertising is social proof that your brand is credible. According to Sprout Social, word-of-mouth advertising “can improve the overall impact of your marketing campaigns by up to 54%.”
Strong brands with effective word-of-mouth advertising produce high-quality products that back up any promises they claim. For example, LL Bean promises durable outdoor clothing. But it doesn't just say it has durable clothing – its products back up those claims, which we can see in product reviews on the website and social media, as well as in LL Bean's loyal repeat customers.
When you have high-quality products that other people have tried and liked or used successfully, your happy customers will share that with everyone they know.
They’re showing something new.
Advertising effectiveness refers to the measure of how likely it is that your customer will purchase your product after seeing your advertisem*nt. The higher your advertising effectiveness is, the more likely your customer is to purchase your product.
Any advertisem*nts that originate from you – the ‘strong brand’ – will be met with curiosity and reliance. Think about the strongest brands you know and how you feel when a new product comes out. When Apple releases its newest iPhone, are you curious about the new features? Most of us are!
When your brand is well established, and the products are reliable, new product releases and promotions will make a strong impact on your customers. Your brand – and its advertising – can more effectively spark curiosity and excitement from your customers.
I need this, no matter what.”
Price sensitivity is a term that describes how heavily the cost of your product weighs on your target market’s willingness to buy it. The less it weighs on their decision, the better; it means they like your brand well enough to give less weight to price. Customers with lower price sensitivity have most likely been satisfied with a product they've bought from you or have a positive emotional connection to your brand.
The power of a strong brand gives you the ability to raise prices. Why? Because you’ve become great at what you do. It’s not something that you can change overnight, but over time you can build a loyal following to your brand and lower price sensitivity.
Working for this brand must be pretty darn awesome.
When an applicant sees a company that appears to have their head in the game, they’re likely to be interested. Everyone wants to have strong, interesting brands in their curriculum vitae. And, with a larger applicant pool generally comes a larger selection of candidates that are suited for your company.
When your brand is strong, candidates will be more interested in pursuing a position with your company compared to others. Your brand has a unique employee value proposition: something that only your company can offer its employees. If your brand has incentives and benefits that other brands don’t have, more people are likely to want a job at your company.
We have a cool thing going.
You want your employees to be happy where they work, and with the work your company does. Happy employees prove to be more engaged, and engaged employees stay at companies longer, are more productive, and are 21% more profitable. Engaged employees are very valuable to your company.
When your brand is a strong one, your employees feel proud of what they’ve helped your company achieve. It brings them joy in life and in work; this is how you get them to feel more engaged with your brand.
I've been engrossed in the world of branding, marketing, and customer experience for years. I've had hands-on experience in crafting strategies for businesses to enhance their brand value, customer loyalty, and employee engagement. In fact, I've seen firsthand how these elements intertwine to create a powerhouse brand.
Let's break down the concepts embedded in the article:
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Customer Service and Product Quality: These are fundamental for brand loyalty. I've witnessed businesses thrive by focusing on these aspects, continuously improving the customer experience and delivering products that not only meet but exceed customer expectations.
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Word-of-Mouth Marketing: This organic form of promotion is gold. Brands that tell compelling stories and deliver on their promises have customers turning into brand ambassadors. I've observed the impact of positive word-of-mouth, amplifying a brand's credibility and boosting its marketing campaigns significantly.
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Advertising Effectiveness: Effective advertising isn't just about grabbing attention; it's about converting that attention into sales. Strong brands capitalize on their reputation and reliability to create curiosity and excitement with new launches.
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Price Sensitivity: The relationship between price and customer willingness to buy is crucial. A strong brand diminishes the weight of price in the decision-making process, indicating that customers are more focused on the brand's value proposition rather than just the cost.
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Employee Value Proposition: A strong brand isn't just about customer perception; it extends to the workplace. Brands that offer unique incentives and benefits attract top talent. Happy employees, proud of the brand they work for, contribute significantly to a company's success.
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Employee Engagement: When employees feel connected and proud of the brand they represent, they become more engaged, leading to increased productivity and higher profitability. A strong brand culture fosters this engagement and loyalty among employees.
The convergence of these concepts forms the bedrock of a powerful brand. I've seen companies strategically implement these principles, witnessing tangible results in customer loyalty, market share growth, and a robust company culture that attracts top talent.
