Home Tags Brand loyalty
Tag: brand loyalty
Businesses who still think that brand and customer loyalty are what will keep them ahead of the competition, are in for a nasty surprise. In today’s age of digital transformation and accelerated technological change, customers are looking for exceptional experiences, and are shifting their loyalties to the brands that offer them.
The good news is: the digital marketing revolution is far from over and it’s providing new and exciting opportunities for marketing professionals to raise brand awareness and expand market share. Last year's important trend, personalisation, continues to be relevant as customers demand that their brands understand them better.
With digitisation reshaping the retail landscape, the future of the industry is unfolding before our very eyes. Since the pandemic began and lockdowns ensued, retailers have been forced to rethink the way they do business and, in particular, the way they serve their customers.
Most of a company’s business comes from existing customers. Keeping those customers loyal to the brand at a time when there are so many alternatives to choose from is something every organisation is struggling with. Considering that 80% of customers are willing to pay more for a better experience, it seems that the solution is staring business leaders in the face.
We’re deep into the age of loyalty and rewards programmes, with just about every bank, insurer, retailer, and service provider offering an initiative of some sort that purports to reward their customers for behaviour that demonstrates loyalty to their brand.
In 2011, Coca Cola launched its Share a Coke campaign in Australia, which was a personalised campaign with the most common Australian names printed on Coca Cola bottles and cans. The result? More than 250 million personalised bottles and cans sold over the summer months to a population of less than 23 million people at the time.
Brands in all sectors of the economy have come through COVID-19 with varying degrees of success. The liquor industry was of course hard hit, but through it we (as a brand) have learned a lot about consumer behaviour. In fact, the purchase-behaviour spinoffs we’ve seen as a direct result of COVID-19 restrictions have been very interesting.
KIA Corporation claimed a Guinness World Record in early 2021, and it had nothing to do with cars. The 303 drones used to etch the carmaker’s new logo (a movement from the classic red logo in a circle to a clean, crisp, and progressive monochrome logo) in Seoul’s night sky were loaded with fireworks. Once ignited, the drones made KIA the unlikely holder of the record for the ‘most unmanned aerial vehicles launching fireworks simultaneously’.
COVID-19 has brought about the notion of people working together for the greater good, rather than a world where people exist for their own survival. Humanity has been tasked with looking out for one other because what we do now has a ripple effect on others. In saying this, brands also have the responsibility to consider more than just their businesses but also their communities, cities, people and every element that they directly and indirectly impact.
12Page 1 of 2