iClassPro Blog

Getting Social: Building Brand Loyalty

June 13, 2017

Welcome to Part 3 of Getting Social, an iClassPro original blog series. In this post, we will discuss the importance of building a brand loyal customer base and how to do so.

 

Getting Social: Building Brand Loyalty

Now that you have set up your social media accounts, it’s time to build your social media plan (as discussed in Getting Social: Developing a Social Media Plan). These next blog posts will give you some concepts to consider as you plan how you are going to best utilize social media to grow your business.

 

What is Brand Loyalty?

Brand Loyalty is the reason you think of Harley Davidson drivers as members of a club; The reason iPhone and Android users band together over the internet to argue which product is best; The reason why it doesn’t matter how discounted Brand-X is, I am always going to buy Coca-Cola. Brand loyalty is what keeps us coming back to the brands that we love and trust. Brand loyalty is a customers commitment to a company. When built strong enough, customers with a strong sense of brand loyalty will stick with a company through increasing prices. Brand loyalty is the relationship between the customer and the company that is the key to customer retention.

 

Why is Brand Loyalty Important?

Customer retention is so important to your business. Research has shown that it costs between 5 and 10 times more to gain a sale from a new customer than from an existing customer. Often, marketing money and efforts are so focused on gaining new customers that the relationship with existing customers is neglected. Customers should be the most valued asset a business possesses—because after all, no customer, no company.

 

It is one thing to make customers happy enough to become repeat purchasers, but true brand loyalty is making a customer feel so valued that they become a brand ambassador. Brand loyalty is one of the best ways to promote word-of-mouth marketing. Research from Neilsen shows that 92% of customers trusted word-of-mouth marketing over all other forms of marketing. As a business owner, it is worth your investment to shift some efforts to building brand loyalty and let your customers bring the new customers to you.

 

How to Build Brand Loyalty

The way to build brand loyalty is simple—relationship relationship relationship. The best way to build relationship is to make your customer feel valued. There are many ways to build a relationship and make your customer feel valued through social media. A few examples are:

 

Rewards

Find ways to reward your customers for their loyalty. Offer coupons to customers who follow you on Facebook. Randomly select customers who retweet your business and make them your “fan of the week”. Host a Facebook competition to reward those who like your posts.

 

Content Marketing

Content marketing is talking about your product less and actually providing your customer with something of value. We will discuss content marketing more in depth in a later blog post in this series.

 

Create a Story

Customers want to feel like they have a relationship with a person not just a name. Don't be afraid to post behind the scenes photos. Most customers relate more to smiling faces in t-shirts than to stiffs in suits. Share your roots story—everybody loves an underdog. 

 

Be Active

A relationship cannot be built over occasional and sporadic Facebook posts. A relationship is going to take effort. It will be worth your time as a business owner to schedule how often you plan to post on social media, several times a week is recommended.

 

Follow Back

Don’t be afraid to follow your followers back—remember that a relationship is symbiotic. Interacting with customers via Facebook is a great way to make them feel truly valued and loyal to your business.

 

Part 4: Getting Social: Market Orientation