Brand loyalty is an essential factor in having a successful business. Today, we will look at the reasons why brand loyalty is an important goal to focus on
Brand loyalty is an essential factor in having a successful business. If you look at the most successful businesses of our time (Apple, Google, Amazon, Disney, Coca-Cola, Walmart), they are all extremely successful in creating brand loyalty. Creating brand loyalty is something we will also cover, but today we will look at the reasons why brand loyalty is an important goal to focus on. Here are the main reasons why you should invest in creating brand loyalty for your business:
Knowing your target audience and creating brand loyalty should happen synonymously. Apple’s target audience is people who will pay more for quality products as well as people who like to be artistic. This is seen not only in the software itself, but in the actual design of the product. Apple computers have a stylish appeal, while also being high end computers. The same goes for their phones and other devices. Steve Jobs had even stated that Apples focus was combining design with performance. You can see how combining design and performance not only creates a brand, but also creates a target audience. If you know your target audience and your brand, and they overlap, then you are heading in the right direction.
A key way to deliver these two elements simultaneously is in well produced advertising such as commercials. Using a service such as Primus Visuals to create a strong brand in your advertising will ensure that you reach your target audience and generate brand loyalty.
In today’s market it is more important than ever to stand out. With so many options and so many different advertisements that people see in a given day, it is important to not only stand out but also to be memorable. This is the number one way to ensure that you keep customers coming back. If you create brand loyalty amongst your customers then they will not only recognize your brand when they see it, but they will remember it without you even needing to put it in front of their faces.
This is most effectively achieved through visual content such as commercials and images in these commercials. What is Apples logo? What is Amazons logo? Google? They are easy to picture because they have created a brand around these logos. This also works audibly, which is why commercials are so effective. For example, every single Star Wars production uses the Star Wars theme song, which immediately tells your mind what to expect: an action-packed, fun, space adventure.
This is where the payoff comes in. If you invest in creating brand loyalty then your loyal customers will be more willing to choose you over competitors regardless of convenience or price. This is what separates all of the aforementioned companies from their competition. Having brand loyalty creates a barrier to entry for your competitors because your clients are already hooked on your product, based entirely on the brand that they have come to love. You no longer need to sell them on every single item you deliver once you have sold them on your brand!
The last point ties into this one. As you scale your company, you will be growing into other areas of the industry. Even if you want to focus on one specific service, this service will evolve over time. Think about video streaming. Disney doesn’t have to create a completely different brand for their streaming service because they already have brand loyalty from their movies and television shows. As soon as they slap on that Disney logo, people know exactly what to expect. What’s more, they don’t have to reinvest into advertising their content all over again. This is why you see so many remakes of Disney movies and why studios tend to ride out certain franchises, such as Star Wars. They can continually produce Star Wars movies without needing you create an entire new audience for each film because they have slapped that Star Wars logo on there (the new movies don’t even have the same characters!). It’s easy to see how the companies we have been talking about have all successfully rolled out new products that retain the same brand.
If you are a business owner then you know the 80/20 rule, and if you want to become a business owner then you should learn it, ASAP. As a rule of thumb, 80% of your sales come from 20% of your customers. Want to take a guess as to why 20% of your customers are making up 80% of your sales? It’s because they are loyal customers. This is why it’s important to have brand loyalty, because you won’t survive very long with each customer buying your product only once. It ties into everything we have just talked about: brand loyalty increases the amount of your product that those 20% are buying and it can even increase that 20% to make up more of your customer base. This is the key to the insane sales numbers that you see from companies such as Apple and Amazon.
Brand loyalty is a biproduct of effective marketing. It has been proven to be effective for the most successful companies the world has seen. With the use of images and video, brand loyalty has become stronger and more important than ever. If you want to have a successful business, brand loyalty must be a part of it.
If you need help creating visual content or advice on where to start, Primus Visuals is a high quality, trusted company that can take you in the right direction. Check them out now to get started on creating content that will improve your brand loyalty.
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