3 strategies for building brand loyalty Contrary to popular belief and the advice you advertising agency might give you, no amount of advertising or discounting will secure brand loyalty. Certainly people will switch brands on the basis of price (as high as 61% in some studies) and brand awareness is a contributing factor (up to […]

3 strategies for building brand loyalty Contrary to popular belief and the advice you advertising agency might give you, no amount of advertising or discounting will secure brand loyalty. Certainly people will switch brands on the basis of price (as high as 61% in some studies) and brand awareness is a contributing factor (up to 69% in some studies) – it is not true to say that either advertising or discounting creates or sustains brand loyalty. Indeed research in the United States (NewsCred) found that up to 77% of consumers related brand loyalty directly to a ‘great product’. Further highlighting the importance of the product, another survey (Bond) it was found that 70% of consumers say they would change their purchases to maximise the benefits derived from the product purchased. The cornerstone of brand loyalty is the product. This in turn involves: Clearly identifying the target market. Understanding the needs…