What makes customers loyal to your brand?

Business

How brand loyal are your customers? Find out what makes customers love what you do – and how you can cultivate greater loyalty for your own brand. 

Just because someone makes a purchase from your business, it doesn’t mean that they’re brand loyal.

They may not even be aware of everything your brand encompasses. It’s also possible that the consumer simply liked what you were offering and decided to try it out.

Even if someone makes repeated purchases from you, they’re not necessarily loyal to your brand. The true test of loyalty occurs when a consumer has to pick between you and competitors who offer the same product or service.

If given the option to buy the same item from another business, how many of your customers would still choose you? It’s true that brand loyalty has declined due to the technology age, but there are still ways to encourage consumers to stay faithful to you.

What’s the most important factor in brand loyalty?

In order to learn exactly what makes a customer loyal, Wikibuy surveyed 5,000 people about their view of brand loyalty. This is what they learned when they asked people what was the most important factor in brand loyalty:

  • 40% said product quality.
  • 12% said price.
  • 8% said customer service.
  • 6% said brand ethics.
  • 2% said rewards and deals.
  • 2% said convenience.

(The survey also learned that women were more faithful to their favourite products than men, with 46% of women and just 40% of men claiming to be brand loyal.)

How many customers are brand loyal?

While product quality is critical to fostering brand loyalty, incorporating the other factors will nearly guarantee an increase in customer retention. This is especially important because acquiring new customers costs more than simply keeping them.

The key takeaways from Wikibuy’s study are:

  • 43% of customers consider themselves brand loyal.
  • 32% would switch brands due to poor product quality.
  • 52% recommend products and services from their favourite brands to others.

(The survey also learned that women were more faithful to their favourite products than men, with 46% of women and just 40% of men claiming to be brand loyal.)

In a time where there is no shortage when it comes to purchasing options, inspiring loyalty among your customers can make the difference when it comes to raising your bottom line.

How can you cultivate greater brand loyalty?

But how can you cultivate greater brand loyalty? There’s no one easy solution. An excellent social media profile, customer service or product quality are all somewhat weak individually. However, when you effectively combine them in your brand, you’ll have customers for life.

To help you improve your own brand loyalty, we recommend reading these articles:

Luke Fernandez runs Growth at Wikibuy, a consumer product that helps shoppers know when, where, and what to buy. As a product and growth leader, Luke has helped Fortune 500 companies and startups alike drive best-in-class marketing through technology and data.

Photo by Nathan Dumlao