What is Brand Loyalty?
Brand loyalty is the dedication customers feel towards making purchases from the same brand over and over again, regardless of competition. It is important for repeat purchases, word-of-mouth promotion, and a long-term relationship.
Top 5 Drivers
Understanding what drives loyalty is critical for retaining customers and increasing purchase rates. With rising inflation and geopolitical disruption, Deloitte’s “Evolving Trends in Brand Loyalty and Consumer Behavior” study provides insights into what consumers are telling us.
Here are the top 5:
- Keep it simple for me
- Provide meaningful experiences for my personal data
- Extend my benefits through a well-integrated credit card
- Let me opt in for exclusivity
- Help me support mission-driven causes
Building Brand Loyalty Leads to Increase Consumer Engagement
By listening to what customers are looking for in terms of loyalty, brands can build strategies tailored to their preferences and behaviors. This strengthens brand loyalty and increases engagement, which ultimately leads to a sustained, long-term relationship.
Check out the article to get the details. https://www2.deloitte.com/us/en/pages/consulting/articles/brand-loyalty-program-consumer-behavior.html?id=us:2em:3na:BrandLoyalty:awa:cons:020123:mkid-K0174144&ctr=banner&sfid=0031O0000301HDWQA2