Loyalty is a gift to any relationship. To be loyal is not to be mistaken for naïveté or a lack of options; in fact, it’s the complete opposite. To be loyal is a mutual relationship built on trust – and that goes for businesses and individuals alike. Companies often mistakenly assume or expect customers to be loyal after a single purchase, but their loyalty to your brand is not automatically guaranteed. Many factors justify your customers remaining faithful to your brand; these factors are not merely business strategies but must reflect any brand’s core values, heart, and soul.
In the United Kingdom, customer loyalty has been increasing. Brands are recognizing their role in the competition for customers and sales. According to the 2022 Emarsys Customer Loyalty Index, customer loyalty was at 55% in 2021 and grew by almost 20% to reach 73% in 2022. Customer loyalty is something that businesses have to earn and should not be taken for granted. And in times of economic instability, building customer loyalty can be challenging. Today, companies aim to make customer loyalty a non-negotiable concept, as having loyal customers who are committed to your brand is beneficial. The goal should be to build such a strong customer relationship that they can’t imagine not having your brand as part of their daily lives.
It can be hard to predict exactly how long a customer will remain loyal to a brand. However, certain factors can help businesses retain their most loyal customers and keep them engaged for years to come. Here are four ways to ensure that your brand is effectively fostering long-term customer loyalty:
1. Brand Alignment
How a brand is presented and received by its core audience determines whether or not this brand is in alignment with them. Shared values and missions are essential in today’s business market because the ways in which customers identify and connect with your brand reflect who they are. In the UK, over 86% of customers are more likely to be and remain loyal to a brand they share the same values with.
2. Brand Authenticity
Your brand has its own personality. It’s the energy and culture of your brand that attracts customers to it. The more authentic your brand is, the more magnetic it is. Customers are attracted to genuine people and authentic brands. Your brand’s perceived authenticity matters so much that 86% of people choose which brands to support based on how authentic the brand story feels.
3. Quality of Product
Nothing is more disappointing than building a relationship only to find it isn’t what you expected. When customers develop their relationship with a brand through their product, they expect that product to deliver on its promises – every time. This is why changes to a beloved product may be met unfavorably: new features on an old favorite don’t always translate to quality. Ensuring your product’s quality is maintained over time will keep customers loyal to your brand.
4. Consistent Brand Experience
Product and price are essential in business, but the customer experience is crucial for building brand loyalty, the ultimate goal for business success. Even if another brand offers better products, better prices, or both, when you provide an exceptional customer experience, it can be the deciding factor that keeps customers coming back. Maintaining consistency with your brand values, such as honesty, reliability, knowledge, politeness, and, most importantly, helpfulness, is essential when dealing with customers. If customers have a bad experience with your brand, especially if it’s repeated, that poor experience may lead them from being loyal to distrusting your brand. Ensuring your customers have a positive brand experience every time creates loyal customers.
Keeping your brand at the forefront of customers’ minds is one thing, but becoming part of their lives is the next level of trust and devotion. Authenticity is the cornerstone of this enduring relationship. When your brand is true to its values and mission, it resonates with your customers, fostering a deep connection that goes beyond mere transactions. This, along with a quality product and a consistently positive brand experience, sets the stage for long-term business success. Your customers, who have been there with you since the beginning of your business journey, are a testament to this.