What does brand loyalty mean to your company? The days of paying celebrities to endorse your products, first on radio, then on television, and now on social media are long over. Consumers want recommendations from real people, not paid celebrities. What’s most shocking about this is that online recommendations are just as valuable to many consumers as recommendations that come from friends or family members, and people are looking for the next well made authentic thing from your company. Your company doesn’t even have to be long-established to break into the consumer loyalty space – all you need is quality and superior customer service.
Brand loyalty has come a long way since the days of airline miles, and people are getting burned out on rewards programs. There are 29 rewards programs memberships per household now, and people are starting to recoil from brand loyalty as a result. Things like mobile phone providers, clothing brands, and health and beauty products still enjoy a fair amount of customer loyalty, but if you are in a different space you are going to have to evolve to meet the demands of the new Millennial consumers. Learn more about the evolution of brand loyalty from this infographic!
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