Below is an excerpt from ANA Marketing’s
The Five Drivers to Creating and Maintaining Brand Loyalty. Visit the ANA Marketing web site to read this post in its entirety. To discover more tips on using social media to build your brand, register for the ANA’s course on The Art and Science of Brand Building that begins on April 18, 2011 in New York, NY.
Cheryl Riina, independent consultant, discussed the five drivers to creating and maintaining brand loyalty. Riina stated that 80% of business comes from 20% of customers, as brand loyalists are committed “true believers.” Technology has revolutionized the way we do business. Resulting from the combination of a radically transformed marketplace, revolutionized communication, and the challenging economic environment, we now have a “more experienced, more demanding, harder-to-please, and tech savvier consumer.” Given the challenges, one might assume that brand loyalty is a phenomenon of the past, but customers want to be loyal because they save time and simplify their lives with loyalty. Brand loyalty creates many benefits for a company, including the following:
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