Brand Loyalty Blog Series: Does Brand Perception Really Matter?

Brand loyalty - that ever-evolving, fluid concept that no one ever seems to be able to nail down, especially when it comes to harnessing the power of it. The last few weeks we have focussed exclusively on brand loyalty and examined the various factors that seem to influence it: age, price, and location. We have yet to talk about brand perception though, and so this week we remedy that with our fourth blog in this series about what makes a customer loyal.

Brand perception, or what shoppers think about your brand, is crucial to brand loyalty - this is no secret. As much as price, online vs. bricks and mortar, or even millennial vs. baby boomer can have an impact, these factors all work in tandem with brand perception. The image you present to consumers is a major influencer when it comes to buying behaviour.

A recent study done by Ipsos Reid gives us just one example of this - but it is an extremely powerful example. The study conducted by Ipsos Reid and the Cause Marketing Forum on Canadians’ attitudes toward corporate citizenship efforts found that an overwhelming majority (84%) of Canadians claim that they would likely switch brands to one affiliated with a good cause if price point and quality were similar. For more, you can check out the release here: http://www.ipsos-na.com/news-polls/pressrelease.aspx?id=6685.

But civic responsibility is only part of the equation. Things like customer service, presentation, even availability on shelf all impact brand perception and therefore brand loyalty. At the retailer level, long line ups or unorganized stores can also have an impact - usually a negative one.

Knowing that a positive brand perception is critical to overall brand loyalty, we should be focussing on ramping up that image through various channels, including proper people support, correct pricing, and visual displays that attract and motivate. All of these things work together to help build up an image of a strong and influential company that consumers can trust.

What is your brand perception doing for your brand loyalty? Storesupport can help you get back on top. Contact us today at 1-877-421-5081. 

Brand Loyalty Blog Series: Does Location Really Matter?

Online vs. bricks and mortar; a common oppositional statement made in the retail industry today. The rise of online shopping has led to a great number of changes within the retail sphere, especially when it comes to bricks and mortar locations.

This 3^rd blog in our brand loyalty blog series looks at location, specifically online vs. bricks and mortar. When it comes to a shopper’s loyalty, does location really matter?

The path to a purchase is a complex one, and now, more than ever, the lines between online and bricks and mortar are blurred. However, when it comes to loyal customers, there are a number of reasons why bricks and mortar locations still maintain a strong and steadfast hold on the majority of sales.

1.     In-person help and the in-store experience. A recent study done by eMarketer found that among digital shoppers worldwide, 72% of shoppers still feel the traditional bricks and mortar experience is preferable, and immediate assistance plays a major role in this.

2.      While the convenience of online shopping seems to be a major threat, the seeing and touching (or what retail experts are calling “trial and testing”) is actually what drives purchasing behaviour the most. Research might be done online, but the majority of the purchases are done in-store where the consumer can actually get a feel for what they are buying.

3.     Immediate possession vs. waiting for delivery. Even if consumers pay extra for expedited shipping, the lure of immediate possession of an item is still incredibly attractive.

As mentioned, high levels of service and the easy availability of items makes bricks and mortar locations more attractive to many. Because of this, retailers and brands alike need to ensure that things are always running smoothly in-store. Keeping shelves stocked, all the time, and having knowledgeable employees willing to offer information and assistance is crucial. Manageable line-ups that don’t mean a ten-minute wait at the cash are also a big factor.

However, ignoring online all together may not serve you well either. That doesn’t mean that you need to be providing online shopping capabilities, it just means that you should at least have some kind of online presence to help increase and maintain brand loyalty no matter where you are located.

Keeping customers brand loyal when it comes to location takes work - but part of the work is already done for you just by having a physical location customers can go to.

For more about keeping loyalty high in-store, please call Storesupport Canada today at 1-877-421-5081. 

Brand Loyalty Blog Series: Does Price Really Matter?

For many companies, brand loyalty is a major factor in driving revenue and profit, but just what makes a customer loyal to a brand? Last week, as part of our brand loyalty blog series, we revisited the issue of age and how it impacts brand loyalty. To follow that up, this week we examine price, and the impact it has on brand loyalty.

Check out this infographic that looks specifically at a number of different things that can impact brand loyalty, and the consequences of a customer shifting their loyalty.
 

If we pay special attention to the numbers relating to price, there are some startling factors to consider.

According to the infographic, 80% of people will switch a brand or switch a store if there is a promotion. Obviously price plays a big role in choices made when shopping. Furthermore, shoppers said that 83% of their unplanned purchases were made because of a promotion.

So what happens when a shopper switches for a special promotion or a lower price? Do they go back to their original brand once that promotion is done? According to the graphic, 78% of shoppers asked said they have engaged in showrooming, or checking out a brand in-store and then going online to find a better price. Customer loyalty is fluid; just because they were once loyal, doesn’t mean that they will always be loyal.

Price plays a big role in brand loyalty, and that means that you have to continue to compete in other ways - ramping up your marketing, ensuring shelves are never empty and that pricing is always correct, and staying up to date with how your brand is performing in-store compare to your competition.

Storesupport can help you combat the challenges posed by price when it comes to brand loyalty through services like competitive pricing audits. Call us today at 1-877-421-5081. 

Brand Loyalty Blog Series: Does Age Really Matter

For anyone in the CPG industry, brand loyalty is a major issue that continually receives (or should receive) a great deal of attention. With the rise of online shopping and the sheer abundance of availability, brand loyalty has become even harder to capture, and thus paying attention to what creates or destroys brand loyalty is crucial.

A few months ago we posted an article that talked about generational brand loyalty, and we were pleased to find that this sparked a great deal of thought and healthy debate. With this in mind, we’ve decided to do a 4 part series looking at the various factors that seem to impact brand loyalty, starting off the series by revisiting the issue of age and whether it really matters!

According to a survey done by Adroit Digital, when it comes to millennial (age 18-33) brand loyalty, age does matter. Although survey respondents did report being as loyal as their parents - if not more loyal - this group did note that retailers and brands do have to work a bit harder to garner that loyalty.
 

Also interesting, this same survey found that millennials based their brand loyalty on different factors compared to their elders, things like social and mobile ranking far higher than their parents. This means that different methods need to be employed when targeting different age groups.

So how loyal are they? Based on the answers given, approximately 1 in 5 said that they are brand loyal and are using the same brands their parents use. Another 43% said that they use many of the same brands, if not all. Taken together, this represents a whopping 63% of respondents who claim to be as loyal as their parents.

These positive statistics are somewhat countered by the fact that the survey found that many millennials agree that their own brand loyalty shifts as they age, as they begin to make their own choices about which brands they prefer. This may be as a result of shifting family situations or changing financial positioning. That being said, this doesn’t mean that this group then becomes less loyal, it just means that their loyalty shifts.

Ignoring the difference in brand loyalty trends when it comes to age will often mean losing one group in exchange for the other. If this is an approach you want to take, just make sure that you are aware of the consequences!

For more about generational brand loyalty and how to tackle each age group please contact Storesupport Canada today by calling 1-877-421-5081.