Marketers face many challenges in today’s rapidly evolving, competitive market. Marketers must elevate their efforts to help organizations understand customers and adapt to changes in their demands and expectations to meet their needs.
Customers expect to receive quality service and excellent experiences when they invest in products or services. According to a 2018 survey conducted by PwC, “73% of all people point to customer experience as an important factor” in making their purchasing decisions. In exchange for positive customer experiences, customers extend to businesses brand loyalty.
Brand loyalty is essential in businesses achieving sustainable, long-term success. Developing effective strategies that build brand loyalty requires understanding its role and aspects relative to the customer journey, branding, and brand equity.
Insights From The Experts:
Director of Marketing in California,
Centre for Neuro Skills
Director, Brand Strategy & Consumer Insights, Republica Havas
Associate Marketing Manager, Innovation
Business Development Manager, Builcore Inc.
Assistant to the City Manager for the City of Coral Gables
“Marketing efforts in the world of healthcare are highly focused on building brand loyalty. Unlike buying widgets, the utilization of healthcare is one area where the price of the provider is less important than ensuring the providers’ quality. This is the exact reason why large scale HMOs like Kaiser, who know that they have an edge with lower out of pocket costs, still spend an enormous amount of resources measuring and improving patient satisfaction.
Brand loyalty is the feeling a customer gets when your brand is mentioned and that feeling will absolutely make a customer in an emergent situation drive right by a hospital to another one where he feels that feeling.”
“Building positive brand equity is crucial for the success of every brand. However, strong brand equity doesn’t happen overnight, it requires solid branding efforts and effective products and services that satisfy rational needs and connect emotionally with consumers.
Understanding your customer journey and connecting with your audiences throughout the journey is the foundation to building consumer-based brand equity, which should translate into conversion, retention, loyalty and hopefully advocacy.”
“I think that the line between brand loyalty and habitual buying can sometimes be thin. Consumers may be “loyal” to a brand because the brand is usually available when they’re shopping. But as we saw in the early months of the pandemic, people are willing to switch brands if their mainstays can’t be found.
This phenomenon is why brands have to be present at every point of the consumer journey — before, during, and even after the shopping trip. This presence leads to the habitual buying that can ultimately lead to brand loyalty.”
“While consumers have several options to choose a service or buy a product, one main differentiation is branding. When customers stand with a particular brand, they usually stand with the values and benefits that the brand represents—making the customer’s choice based not only on the quality of a product or service but the brand. Nowadays, branding has become very important for businesses overall in order to gain market share.”
“In my opinion, brand loyalty has a symbiotic relationship with the customer journey. As a marketer, if your brand is strong and you are able to curate a customer journey that yields high conversions those customers are likely to become brand loyal. At the same time, if there is brand loyalty there is a built-in customer journey.”
According to a 2018 survey conducted by PwC, “49% of U.S. consumers say companies provide a good customer experience today.” Marketers must optimize the customer’s experience to create a seamless experience that provides the right information in the customer journey while supporting and developing the brand
A positive customer experience includes customers feeling valued, heard, understood, and appreciated. Optimizing the customer experience will create a positive, seamless experience necessary to meet the customers’ needs effectively. It not only creates the value and satisfaction that customers desire; it increases brand loyalty.