From CrowdTwist
In 2018, brands should be investing more time and money into fostering customer loyalty. Winning new customers is important to grow a business, but keeping existing customers satis ed and loyal is crucial
to a brand’s success. What are the drivers of brand loyalty? What keeps customers coming back? Which brands are leading the pack?
In this e-book, we’ll highlight 20 brands that are investing in the brand- customer relationship to deliver the high-quality products and services that create the exceptional customer experiences that drive loyalty.
WHAT BRAND LOYALTY MEANS IN 2018
Brand loyalty is thriving according to research by Facebook. The company surveyed 14,700 adults in the United States, examining patterns of behavior across multiple di erent brand verticals. Across the board, 77% of consumers have the tendency to return to their favorite brands over and over again. However, those 77% seem to be split into two main categories:
Repeat Purchasers account for 40%, and represent people who purchase from the same brands frequently but only because they gave them a lower price or made it more convenient to and they would have no problem switching brands. Repeat Purchasers are therefore more driven by price and convenience.
Brand Loyalists account for 37% of the population. They make repeat purchases
and are truly “loyal” to their favorite brands, meaning they would not switch given an opportunity like lower prices or more convenient access. Brand Loyalists within a vertical tend to prioritize more emotive and experiential qualities, like trust and service.
Facebook recommends that brands build trust, create cross-screen appeal, focus on the experience and connect through personalized communication to drive customer acquisition and convert repeat purchasers to brand loyalists.
CrowdTwist is a sponsor of The Wise Marketer
