Brand loyalty is when a consumer consistently purchases products from a particular brand, strictly because of the brands name. For instance, iPhone users are usually loyal to Apple products but there could be a multiple reason why. It could be because of product price, quality, availability or a number of different things. Consumers are unpredictable, but it is our duty as marketers to understand why they are brand loyal. Harley Davidson consumers have brand loyalty. Back in the day Harley Davidson motorcycles weren’t the best, the overall quality of the bikes was horrible. Consumers still bought the motorcycle at full price and sent it to an auto shop for upgrades to make the bike run in pristine condition. That is the definition of a true brand loyal consumer.
A question that marketers should think about would be, whether a social stance can impact a brand identity or image? Today, there are a lot of social issues that can deter consumers from purchasing your products. For instance, Nike created a campaign in support of Colin Kaepernick with his controversial stance on kneeling during the playing of the National Anthem. Since Nike has such a strong brand image, the backlash didn’t hurt sales or the company’s image. When you’re a marketer you need to think about the brand image, and how it will be affected by taking a social stance. In 2018, Coke-Cola did the same thing with its “This Coke is a Fanta” campaign. The company took a stance on LBGT support, and actually increase sales by 2%. Taking a social stance as a brand can increase sales, but it can also hurt, as a marketer we need to conduct proper marketing research before we choose one way of the other.
Brand building should be one of the first things you do when marketing a company. Consumers purchase from companies they know and trust. Think about this, you’re in a different country and you want coffee. There are two brands to choose from, Starbucks or Coffee Bean Coffee. Which would you choose? What factors of each brand would influence your decision? I would say that the main deciding factor is that the company has built a relationship with you. You personally trust the company, and you have built customer loyalty. That in turn means consumers are more likely to purchase from a brand that they know. According to Hector Hernandez, CDO of McCann World group, he states that un branded stream of revenue, return of investment (ROI) is on average -255%, which is the reality of an un branded item. Which makes sense, because most startups aren’t known by consumers, so how likely are consumers to purchase from a brand they aren’t familiar with. On the other hand, Hector Hernandez later explains during his presentation at the Digital Branding Analytics Miami 2019 Conference (#DBAmiami), that if your brand is well known and well branded, you can receive an extremely higher ROI of 1049%.This all boils down to properly branding your company or product to make sure you build customer trust, and loyalty.
I remember when I was a child, and every time I would go out to the mall, grocery shopping, or even a restaurant, my mom would give me a stern look and say, “You better not act out in public!” At a young age I was taught the difference between how I would act in public (professional) and how I would act in private (personal). When it comes to branding yourself personally and professionally we need to be able to separate the two. Would you behave in same manor or express your personal views in a public event? I would think not. Let’s look at President Trump as an example, his personal opinions about women and minorities have affect his professional standing as a The President of the United States. His approval rating has declined and now the nation is in its longest Government Shutdown in US history. Ultimately, your personal view can drastically affect your professional branding, especially if it’s a non-popular, or controversial opinion. So, if you’re planning on continuing with your professional career, make sure to separate your personal and professional opinions.