How to foster brand loyalty effectively
Brand loyalty is one of those commonly-used marketing terms which are not precisely defined or understood. Prompted by the writings of Fredrick Reicheld1, company after company has begun to focus on retaining existing customers as much as, if not more than, on gaining new ones.
Customers need something to be loyal to; something with which they can create an emotional bond. That something is brand. There is evidence that people can become loyal to product, corporate, service and consumer brands. In this context, that means choosing the use of one brand above others, sometimes with little explicit thought about how or why. This is often an unconscious emotional choice by the customer, which is enormously profitable for the supplier.