According to Edelman, 81% of consumers say they need to trust the brand whose products they buy. And as practice shows, more often people buy products of familiar brands.
We perceive brands as tools. With their help, we solve the problem, realize the functional qualities of the product. And an emotional task — we want to stand out in society, we want to feel pleasure, security, protection, and so on.
Companies should have a significant advantage over other market participants. Loyalty allows brands to have a permanent customer base that repeatedly selects various products and services. These benefits include:
- Repeat purchases mean sales growth for the company, and sales growth means profit growth.
- Competitors' marketing strategies are less likely to attract loyal customers.
- Brand loyalty provides a competitive advantage in the market.
- If brand loyalty is high, the company will face repeated purchases of its products by customers.
- Free brand advertising at the expense of satisfied, loyal customers. Customers promote products by word of mout
To increase brand recognition and promote it, companies can turn customers into brand ambassadors. It is a much different process. First, companies should know who their customers are. Then to form brand loyalty, you need to keep in mind three key elements: be authentic, engage your customers, provide social proof.
Brand ambassadors are a real way to attract potential customers, and they are best suited to achieve this goal. The way this is achieved is simple. Ambassadors promote and represent the brand, attract new customers and are rewarded with free goods, discounts and exclusive opportunities. Discounts encourage ambassadors to buy more products, increasing both lifetime value and brand loyalty.