Hi everyone. Thanks for tuning in to my first Maven Monday.
My name is Auggie.
And today I want to talk about brand loyalty. Brand loyalty
or customer loyalty is not just
a made-up phrase that marketing
departments have started to throw
around the last couple of years.
It's actually a real tangible concept
and it can make a huge difference to
any business regardless of your sector.
But it's a difficult and it's a tricky subject. Probably
because it's difficult to measure and people
don't really know what they're looking for.
Because how do you measure customer loyalty?
How do you fully know whether a
customer is engaging with you?
What that process is like?
And most importantly how do you even know
what other places they shop our how
you can measure those kind of metrics
whether that be a competitor
or a completely different business? Getting
into the mindset of who that customer is
and what their journey is very
very tricky. The average person
actually sees hundreds of advertisements every day
and how difficult do you think it
is for your business to compete with a Microsoft
or a Nike or an Adidas? If you can then
I commend you and I say good for you.
But for most of us standing out from those
kinds of businesses is a virtually impossible
task. All these established
businesses have one thing in common
and that's primarily money
and that translates to resource. To endless marketing
videos, Billboards, Facebook advertisements
and much much more. Unless you're at the
very top of the advertising food chain.
I doubt you'll have the marketing budget
to really compete with these kinds of
businesses. In a world where everyone is
constantly moving constantly shifting to
other places this translates to more visibility.
So how do you compete with these companies?
How do you find the time and the
resources to get to these customers of
yours? These customers that are undoubtedly out there
and most importantly,
how do you drown out the noise?
It's simple! If I could give you one piece of
advice about brand loyalty and customer loyalty.
It would be this focus on
what you do have and not on
what you don't have! If you're a
small-time business owner who
runs your operations from a shed in your garden,
then bring that out your website
and your social media. If you're
hard-working software developer
and you fought tooth and nail to
leave a Fortune 500 company to start
your own business then thank your customers
for believing in your vision.
Maybe you're even a young exciting
group of people who like marketing
and branding and you need to translate this excitement
and this passion into something that's actually
tangible for your customers and clientele.
You should never aspire to be something that
you clearly aren't. Take ownership of your
eccentricities - the very things
that make your business unique
and make your customers a part of that journey
make them feel involved in the very things that
make up your business. To revert
back to marketing terminology.
It's much easier to convert an existing customer
than one that you haven't even engaged with yet.
In fact, some experts even estimate
that it's five times cheaper to do so.
Now think about how much you'd actually grow.
If every single customer came back to your
business. Humans are incredibly loyal animals,
but I think we sometimes lose
that element of our psychology
when we talk about e-commerce and business
and marketing and things like that.
Even if a few small touches can make
it big difference to your customers,
whether you're a big business
or a small business anything personal
or any sort of extra effort that you put in
that's going to be noticed by your customers
and in a world where competition is fierce
that's going to be reflected in the loyalty.
They feel towards you and your brand.
So I hope you enjoyed this short video about brand loyalty
and let us know if you have any questions
or stories about brand loyalty any bad experiences
or good experiences of particular brands that you
feel a sense of loyalty to we'd love to hear from
you and it's great to get these conversations going.
See you at the next one.
