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brand loyalty

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Consumer cynicism toward brands is higher than it has ever been before. In a sea of brand promises concerning social action, equality, and eco-friendly supply chains, consumers are starting to look past empty words and dig deeper into what’s really going on. The latest “Meaningful Brands” survey from global communications group Havas confirms these findings. Havas surveyed 395,000 consumers from regions worldwide, reporting that 71% of those surveyed said they have little faith that brands…

Trust is important in any relationship. It helps forge bonds by ensuring mutual respect and accountability, come what may. But for brands, building trust with both existing, potential, and even unknown customers is doubly important — brand trust is second only to price when it comes to purchasing a product from a new company, according to the Edelman Trust Barometer. In the same survey, 70% of respondents said trusting a brand is more important today…

“Brand transparency” is much more than a buzzword; these days, brands need to be transparent in everything they do. Although it may seem like a simple idea, maintaining transparent operations doesn’t necessarily come naturally, particularly in larger companies where there are more people, layers, and complexities involved in the business. But before delving into those complexities and how to harness the superpower abilities of brand transparency, let’s take a look at what it is and…

Two types of loyalty are fundamental to businesses: customer loyalty and brand loyalty. While they’re two separate concepts, the common denominator is that they’re both indispensable to customer retention. Let’s go over customer loyalty vs. brand loyalty — the difference between the two, and why they have to be addressed in distinct ways.  What’s Customer Loyalty? Customer loyalty is born from excellent customer satisfaction — it’s when a customer has such a positive experience with…

Perception isn’t always reality, but when it comes to business, it can build a narrative that’s difficult to refute. What the general public, let alone customers perceive to be true about a brand can have massive repercussions for their bottom line. During the holiday season, Pelaton released a video ad about a husband gifting his wife an indoor exercise bike for Christmas. There was a swift backlash to Peloton’s ad, with many calling it out…

Imagine a marketing program that costs relatively little, yet generates warm, promising leads. It sounds like every marketer’s dream, right? Well, it is. Customer referral programs are one of the most powerful ways to acquire new, high-quality customers. Referred customers have, on average, a 16% higher customer lifetime value (CLV), and marketers say that referral marketing is the second-highest source of quality leads. Despite all this, only 30% of companies actually use a formalized referral program. What exactly is this powerful…

Research shows that up to 92% of consumers trust peer recommendations. And according to American Express, happy customers recommend to an average of eleven people. Now, multiply that by thousands of customers, and there’s significant potential for customer acquisition. This is the crux of what it means to have brand advocates. Brand advocates are a brand’s ambassadors to the world. They spread the brand message among their friends and family — people just like them…