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. 

Generational Brand Loyalty: 25 Vs. 50 – Is There Really a Difference?

It seems as though generational brand loyalty has become a hot topic in the retail world –and we agree that this is for good reason. It is more than obvious that buying behaviour differs depending on age, but it isn’t enough to just accept that they need to be catered to in different ways. Without knowing what is important, how can you even begin to understand and develop a plan if you don’t know what this age group wants?

Check out this great infographic from XYZ University. Based on the responses of over 2000 Millennials (aged 18-33), the survey found some interesting and insightful information that you can take to the bank.

Findings:

• 64% of Millennials responded that they believe they are just as brand loyal, if not more so, than their parents.
• 52% say that brands really need to listen to customer feedback and respond to it.
• Women are more concerned about consumer-focused brands, eco-friendly brands and those that have a focus on fair business practices.
• Why they choose certain brands:
• 62% responded that price or value is a factor
• 55% take recommendations from friends as serious influencers
• 47% say brand reputation is a key factor
• As far as what influences brand perception, social media (60%) follows only television (70%) as the most important outlet.

Ignoring generational differences can be detrimental to your overall marketing campaign, not to mention your brand loyalty.  Making use of these findings and catering to those generational differences can make a big difference.

For more about those generational differences that influence brand loyalty please contact Storesupport Canada today by calling 905.847.6513.

Empty Shelves = Lower Brand Loyalty: How Are You Preparing for the Holiday Season?

It is no secret that empty shelves can wreak havoc on brand loyalty. When a customer heads to your store intent on making a specific purchase but finds that particular item unavailable, their first instinct is always going to be looking for it somewhere else. If this happens often enough, you could be facing a significant decrease in overall sales as customers consistently choose your competitor (with shelves well stocked) over you. 

Walmart is one such company currently dealing with the ill effects of empty shelves. According to a Bloomberg News report, people quickly notice those empty shelves and are no longer staying quiet about the issue: people noticed “that many items were not being replenished, leaving some shelves bare. Hundreds of e-mails poured in from once-loyal customers complaining they could no longer find what they were looking for and so were shopping elsewhere.”

One of the biggest reason for these empty shelves? Well, according to Walmart employees, merchandise has been left piling up in aisles and in the stock room largely because the corporation doesn’t have enough people to ensure it is where it needs to be, when it needs to be there.

The issue of empty shelves becomes even more essential to deal with during this seriously busy time of year. Holiday shopping often necessitates an increase in your overall staff, and to ensure sufficient stocking capabilities this is really important.

So what are your options? Last week we spoke to the pros and cons of hiring seasonal workers. As much as this may seem like the only viable option – it isn’t. Hiring additional people support from a merchandising company – a team of retail experienced, professional, fully trained, and available on short notice for a short period of time, gives you the best of all worlds – without the cons. If you are concerned about keeping shelves stocked during the holidays, this might be something to seriously consider.

For more about keeping store shelves well stocked over the busy holiday season, or throughout the entire year, please contact Storesupport today. We have the people support that makes dealing with stock issues, quickly, easy. Call us today at 905.847.6513.

Building Brand Recognition – The Dos and Don’ts

In the ever-evolving world of retail, building brand recognition continues to be that ever-present thorn in your side, that branch that seems to continually be out of reach. Once established, brand recognition is never static, and loyalties change like the seasons (if not even more often). Does this mean then that attempting to create and harness brand loyalty has become a fruitless endeavour? We don’t think so.

Here is our list of the top dos and don’ts when it comes to building brand loyalty. Don’t give up – just think differently.

Do: Recognize that there are differences between the generations as far as brand loyalty. The research shows that differences do exist, and that often the younger generations are less loyal than their predecessors.

 

Don’t: Assume that, since many Millennials tend not to identify as brand loyal, that they should be largely ignored as an attainable target group. Furthermore, don’t assume that because the older generations tend to identify as more brand loyal that they then make easy targets and that once obtained will never switch.  

Do: Consider a customer loyalty program that offers real incentives – but make sure that those incentives are attractive enough to have real value. A points system that takes years to materialize isn’t much in the way of motivation.

 

Don’t: Assume that this is the be all and end all of the brand loyalty game. Just because a customer gets something in return for their purchase, doesn’t necessarily mean that they won’t ever shop anywhere else.  

Do: Take visual merchandising seriously. Develop a plan to grab consumers’ interest. Take advantage of seasonal themes, the science of colour, and even interactive displays if possible.

Don’t: Retailers – change things up and then leave them for months at a time. Stagnant displays quickly lose their value. Things need to be fresh and creative to attract attention.

Brands – don’t set it up in store and assume that the retailer will manage it correctly. Make sure you have a system in place to ensure that it is stocked and located in the right spot throughout the entire campaign period.  

Do: Offer various avenues for customers to provide feedback. Social media is a great space for this, if managed correctly, as is the good old suggestion box.

Don’t: Offer various avenues for customers to provide feedback and then ignore that feedback. When a customer takes the time to provide you with this information, use that valuable intel appropriately. Research shows that only a small minority will ever provide feedback (most will just choose to shop elsewhere or buy something else), so take whatever information you are given and act upon it. And, whenever possible, respond to feedback you receive (i.e. on social media). Customers want to feel as though their opinions matter (and they honestly do).

Building brand loyalty is a game without a finish line, and when you take the time to work with what you’ve got you can actually make some important inroads. Take this list of dos and don’ts and apply it to your own approach.

For more about building brand recognition please contact Storesupport today by calling 1-877-421-5081.

Generational Brand Loyalty: Reaching the Millennial Market

Brand Loyalty; that ever-elusive, continually changing concept that always seems difficult to pin down, let alone achieve, has yet again reared its (ugly? Guess it depends on how you look at it) head. It seems that with each year, new ideas surrounding how brand loyalty can be garnered are developed – some utter drivel, and others quite useful. And with each generation gap, this advice becomes even more important! After all, you aim to target a specific group, or groups, and if you can’t identify the members or their wants/needs, you might find yourself out in left field.

Check out this great infographic from Direct Marketing News, aptly title “Talkin’ ‘bout My Generation.” According to the image and accompanied report, there are some highly significant stats that should be considered. According to a recent study regarding brand loyalty among Millennials (those aged 18-33), the often accepted view that this age cohort is not brand loyal at all may not actually be all that accurate. In fact, the study found that 43% of respondents stated that they use the same brands as their parents, while 40% said that they feel the same level of brand loyalty as their parents, while a further 24% believed they actually held more brand loyalty than their parents. Check it out to find out what else the study found!

When it comes to brand loyalty and generational differences, don’t just blindly accept that those younger generations are not focused on the traditions of their forbearers. In order to harness the power of each generation, the knowledge regarding what they want needs to be harnessed first.

For more about utilizing generational brand loyalty please contact Storesupport by calling 1-877-421-5081.

Brand Loyalty and Recognition in the Retail Arena

In today’s retail world it has become increasingly difficult to keep customers loyal to a brand. With the plethora of online retailers offering price comparisons and the ease with which an individual can obtain information about the products they want, it is easy, now more than ever, to switch brands without an afterthought. Does this knowledge then make the challenge of building brand loyalty and recognition a lost cause? Is there any real hope to keeping customers coming back time after time?

To keep brand loyalty and brand recognition high, here are some points to consider.

Keep customer service levels high. This is common knowledge in the CPG industry, but it is often a common complaint – one that can have major impacts when it comes to maintaining a hold on your loyalty and recognition statistics. If line-ups in your store get too long, or it is difficult for a customer to receive the help or assistance they want/need, their first response may be to switch stores. This is big for brands too – if a customer can’t find your product on the shelf at their local retailer, they may just switch to the next best thing.

Provide value – and make that value visible. Nowadays consumers want both quality and quantity – the numbers continue to show that correlations with regard to generational differences mean that you need to focus on both of these elements in order to reach the greatest number of buyers. And, you need to make sure that the current cost is always reflected on the shelf – even a small window of time between a price change on paper and a price change on the shelf can mean lost sales.

Stay relevant. This can mean so many different things – but in the CPG industry it is especially important. Here you may think about our previous point regarding quality and quantity, but you may also want to consider things like customer engagement in-store, or providing wants with things like eco-friendly or sustainable options. This is good advice for brands too – those looking to get a leg-up on the competition. Keep track of the latest trends – falling behind here can often spell disaster.

For retailers and brands in the CPG industry, brand recognition and brand loyalty continue to plague us as challenges that need constant attention. Strategies seem to need overhauling on a regular basis, and things that seemed to work as recent as even a year ago have now lost their luster. In the end, all you can do is provide what the customer wants – great customer service, high value, and the feeling that their needs are being taken seriously.

For more about effectively building brand loyalty and recognition, please contact Storesupport today for more information: 1-877-421-5081.

Image Upgrade: Brand Loyalty and Customer Experience

With the high level of competition in the CPG industry, especially due to the entrance of American stores in our neighbourhoods, customer experience needs to be high to encourage both store and brand loyalty. When a customer leaves your store, there should be two things on your mind – their current purchases, and whether or not they will return.

How can you ensure a positive customer experience to keep people coming back?

Staffing – If there are staffing issues and a customer has to wait in line longer than they feel they should have to, they remember. If they spend more time than they feel they would like walking around looking for an employee for assistance, they remember. If there are staffing issues, customers won’t be driven to return. Make sure that you always have enough staff on the floor to handle ebbs and flows in traffic, and to assist customers when required.

Cleanliness – The store needs to be clean and tidy, this is a given. If it isn’t, customers notice, and in the CPG industry that is never a good thing. Make sure that displaced products are put back in the right place in a timely manner, and that floors are clear of debris. Also try to avoid larger than necessary displays that take up too much room and make the store difficult to navigate.

Location – Are your products located in the optimal area, where customers assume they would be, or do they constantly have to ask your employees or search the store for what they want? If your store layout in unappealing, confusing or hard to navigate, customers are not going to enjoy their time in your location – this never bodes well for brand loyalty.

Products in stock – If a customer enters the store with a list of specific items, but can’t locate some of them on the shelf, they may just leave without them and purchase them somewhere else. Most customers will not ask if a product is in stock, and so ensuring that shelves are well filled (rather than the stockroom overflowing), is a great way to prompt loyalty.

This is important for brands as well, as even if a customer is loyal to a store, if your product is not on the shelf they are likely just going to choose the next best thing. Your product isn’t going to sell from the stockroom, so you have to be sure that a retailer’s staff is aware of when shelves are growing empty.

Products priced right – By this we don’t mean on sale, although that never hurts, but instead that your products are priced correctly. This is especially important when you are having a sale – otherwise there is no extra motivation to purchase that product.

Is it time for an image upgrade? Think about how a merchandising company can help you with all of these areas and stop stressing so much about the competition.

For more information on how to bring customer experience levels up and increase brand loyalty please contact Storesupport today by calling 1-877-421-5081.

Building Brand Loyalty – Are You Targeting the RIGHT Consumer?

One of the biggest issues that retailers face, especially in today’s mobilizing marketplace, it building brand loyalty and retaining loyal customers.  After all, if a customer can find a better deal, or doesn’t feel as though their needs are being met, they will quickly switch to one of your competitors. In this blog we offer our top 3 steps to building and ensuring brand loyalty. The market is changing constantly, so you need to be focussed on continually updating your strategies.

3 steps to building brand loyalty:

Step 1: Make sure that you are targeting the right consumers. A major hurdle in the Canadian CPG industry is dealing with the generational gap. All consumers are not the same – their wants and needs differ greatly – so if you treat them all the same none of them will be completely satisfied. Instead, you need to cater to the differences. Younger generations are often more receptive to experiential marketing or digital marketing, whereas older generations are often more responsive to coupons and promotions. Don’t ever discount one for the other.

Step 2: Make sure that these consumers are engaged. This can be accomplished a number of different ways (and can be used to market to ALL consumers). Firstly, make sure that customers are receiving the right support (re: finding items that are not on the shelf) and answers to their questions. Secondly, employ an experiential marketing campaign to attract attention, especially when promoting a new product. These things will help establish an emotional connection with your brand. These tactics will also help with brand recognition and boost sales.

Step 3: Make sure that these consumers are experiencing a high level of customer service. Brand loyalty is built upon a foundation of solid customer experience, so if your customers leave your store unsatisfied with the level of service they have received, chances are pretty good that they won’t be returning for seconds. Don’t let long line ups or idle employees cause a decrease in customer experience levels.

A great tactic to adopt when facing stagnant levels of brand loyalty is to leverage the services of a merchandising company to garner a boost. By employing their methods for success, an experienced merchandising company can examine problem areas, suggest changes that will have big impacts, and implement the adjustments smoothly.

For more information about building brand loyalty, please contact Storesupport today by calling 1-877-421-5081 or visit us online at www.storesupport.ca.

Retail Merchandising “Down” Your Business

Target Corp. has been in the news a great deal recently and retailers across Canada are modifying their retail plans as a result of the influx of new stores that are being opened. Although Target, as a big box store, does present some stiff competition, many previous big box retailers are moving in a different direction – down.

A recent article in the Globe and Mail, “Goodbye, big box?”, speaks to the issue of how this competition has led to a realignment of big box thinking, sending current retailers on a new course to keep up. One of Canada’s largest providers of automotive parts and home products, formerly focused exclusively on doing things ‘big’, is making plans to ‘downsize’ in an effort to see sales increase. Focusing more on the retail merchandising factor plays a big role here.

How is this retail merchandising downsizing going to help? Well, in an effort to ramp up customer service, it actually makes a lot of sense. More mature consumers don’t want to spend as much time walking up and down isles – and so a smaller store will allow them to get their shopping done faster. It also allows for higher customer service levels – something that is crucial with this generation. Brand loyalty suffers when a customer feels unsatisfied with a retailer’s service, and so giving more to the consumer means higher levels of brand loyalty.

Retail merchandising in this situation is also key in order to retain those customers that tend to turn to online shopping. The younger generations, millennials for example, are often tempted by the lure of online shopping – so a strong retail merchandising plan will help you retain their business with things like experiential marketing.

If you are thinking about traveling the same route as those big box stores, you have to make sure that you have a strong retail merchandising plan in place to ensure that customer service does not suffer as a result.

People support: Many stores are keeping their big box locations as temporary inventory spaces, and a retail merchandising company can provide the personnel required to staff each location. Well-trained, professional employees, available on short notice and a temporary basis, can mean the difference between customers leaving happy and planning to return and leaving unsatisfied and shifting their loyalties.

Planogram set-up: A retail merchandising company can also set-up, tag and price, and install any signage in the new location. This ensures planogram compliance.

Store closures: If you are closing a store and sections of the store are being closed as inventory is sold, let a retail merchandising company assist in rearranging the store so that it is still shopper friendly. This way your employees can remain focused on providing excellent customer service at a time when it is crucial, and a retail merchandising company can make sure that customers can still find what they need.  

If you are planning to downsize in the future, don't ignore the importance of retail merchandising in these scenarios.  For more information about how retail merchandising can ensure your customers don't feel pressure to switch please contact Storesupport by calling 1-87-421-5081 or visit www.storesupport.ca

Target Baby Boomers 2.0 – How to Increase Customer Retention and Brand Loyalty in This Market Space

There has been a lot of buzz in the news lately with regard to the habits of millennials when compared to baby boomers. It is undeniable that generational trends dictate market trends, and so keeping up with change is critical. That being said, it is important not to alienate one generational group in exchange for another, and it is crucial to cater to all groups while recognizing that baby boomers continue to represent a large segment of shoppers who regularly visit bricks and mortar stores and continue to exhibit a higher level of brand loyalty when compared to younger generations. 

By marketing to the baby boom generation properly, customer retention and brand loyalty can lead to increased profitability. But how?

Baby boomers are apt to exhibit brand loyalty – you just have to hold onto it. Baby boomers remain the most loyal generation, especially when it comes to CPG brands. A recent marketing study done by Jefferies and Alix Partners found that 61% of baby boomers said that brands were important in their purchasing decisions for groceries (compared to only 47% for millennials). Those products that baby boomers have continued to favour over the years are not disregarded easily, making customer retention and brand loyalty much easier with this generation.

At the same time, it is important to acknowledge that baby boomers are more likely to have higher expectations, so things like making sure that product is on the shelf, in the correct place, or that employees can provide assistance when necessary are all key factors in customer retention. A merchandising company can help with this by providing the support necessary to ensure that retailers conform to your expectations.

Furthermore, the study found that millennials are far more price sensitive than boomers, and less likely to buy the more expensive brands. 62% of millennial participants responded that they focused more on lower prices than brands, compared to 46% of baby boomers. Clearly those with the buying power are spending the money.

That doesn’t mean though that product demonstrations or promotions are not well received – they are. Baby boomers are willing to try a new product if the quality is there, and although it takes far more to get them to switch, these tactics can increase shifts in brand loyalty.  They also represent a great customer retention opportunity when providing that added incentive to get them to continue purchasing your products.

The study’s results indicate just how important it is to continue marketing to baby boomers in order to retain their brand loyalty. Make sure that your merchandising plan attempts to reach all viable customers. A merchandising company might be just what you need to ensure that this plan considers all markets. Rely on a company that has the expertise necessary to meet your needs no matter what your target demographic is.

For more information about customer retention and brand loyalty among the baby boom generation, or to find out how our merchandising services can contribute to increasing these, please contact Storesupport by calling 1-877-421-5081 or visit www.storesupport.ca

 

How to Ramp Up Brand Loyalty in a Turbulent Economy

Economists in Canada have been talking about how the Canadian economy has been rebounding for months now, especially with the increasing employment rate. More people are back to work, and things appear to be stabilizing. That being said, deputy chief economist at CIBC World Markets Benjamin Tal recently reported on the status of the economy, looking at consumer spending, and his predictions are not nearly as promising, especially for CPG brands. 

With respect to consumer spending, Tal remarked that “Canadian consumers are exhausted.” Worry over housing prices and debt, coupled with the knowledge that economically things are still quite tenuous, has led to ‘consumer fatigue’, and Canadians are not spending the way that they used to be. Tal states that the Canadian debt load has a lot to do with this ‘consumer fatigue’.  The debt to income ratio for Canadians has risen from around 140 to 165 percent, and as a result the decision to purchase is now heavily influenced by a number of new factors.  

This trend is especially challenging for top tier brands whose products may be more expensive. If a customer is looking for price first, then CPG brands who sell bigger ticket products must do even more to entice new customers and ramp up brand loyalty with respect to existing customers.

These trends do represent an important opportunity for brands to be one step ahead of economic forecasts and place an emphasis on strengthening brand loyalty. Ever since the recession hit in 2008, consumers across the country have been paying close attention to promotions, and switching to different products that may offer the same or different benefits. The trend still seems to be price over quality – or a balance between the two.

Not sure how to make these trends work for you? Consider experiential marketing. If a consumer has the ability to try a product that may not be their usual brand, and find that they like it, the decision to purchase your brand rather than a competitor’s is an easy one. Furthermore, if the product demonstration includes a promotional coupon, the chances of shifting brand loyalty are further increased.

The fact though that cost is important does not mean that consumers who are concerned about cost necessarily want to skimp on quality. If your brand is great, consumers will continue to purchase even if your price is a little higher. With experiential marketing you get the chance to show those customers why it was that they either chose your product to begin with, or arguably more important, why they should switch to your product and buy it from now on.

For more information about how to leverage experiential marketing to increase brand loyalty, or to find out about any of our merchandising services, please contact Storesupport by calling 1-877-421-5081 or visit www.storesupport.ca.  

Holiday Experiential Marketing Campaigns Conducted by Brands Increase Sales Substantially

As a brand, you know that the holidays often represent a crucial period of potential growth for your brand. The stores are filled with those shoppers looking for the best products and the best deals. So how can you attract them to your brand? Experiential marketing campaigns provide a unique chance to attract and build connections with customers – both loyal and prospective. 

Leveraging experiential marketing enables you to undergo meaningful campaigns that engage the customer through experience – creating an emotional connection to your brand. Interacting with customers using sensory experience allows you to create important relationships based on a direct experience with your product and to begin to build that brand loyalty that is crucial to your brand’s success. Common forms of experiential marketing campaigns include product demonstrations and product sampling, and rather than just telling people about your product, experiential marketing campaigns allow them to experience the benefits for themselves. 

The stats about experiential marketing are compelling. A study done by the Event Marketing Institute on experiential marketing campaigns found that 58% of consumers said that they purchased the product or brand after an experiential marketing event that let them experience the product for themselves, while 86% revealed that they became a regular customer afterwards. Furthermore, 71% of those surveyed said that they felt a stronger connection with the brand after the campaign, leading to further brand loyalty. 

We all know that the holidays are a busy time. Having a plan in place before they arrive is prudent, as during the holiday season things can become very hectic. Working with a merchandising company to plan and have the resources in place to launch a holiday campaign will ensure that you take maximum advantage of the opportunity that the holidays represent.

Take this study done by a New York marketing firm as an example of the potential that exists during the holiday season. Focusing on the effectiveness of experiential marketing campaigns, the firm broke down its engagement levels with regard to time, finding that on average, customers interacted with brand ambassadors for an average of 40 seconds. During these 40 second engagements with 120 000 people, brand ambassadors were able to create an emotional connection to the brand that was equal to approximately 1.1 million 15-second television commercials. Taking into consideration the power of a television commercial during the holiday season, it is imperative to recognize how important customer engagement is, especially at the point of retail.

Looking at case studies of work done by experienced marketing company Storesupport demonstrate just how effective experiential marketing campaigns can be:

Case study #1: A well-known juice brand wanted to complete an experientialmarketing campaign during the busy holiday season to gain brand recognition and engage customers to increase customer loyalty. Storesupport was called in to assist, providing consultants who ensured effective product placement and a positive customer experience. Within four weeks, the brand achieved a 96% distribution rate within the stores thanks to the power of the experiential marketing campaign.

Case study #2: A healthy cooking oil new to the market was looking for increased brand exposure and customer loyalty. Storesupport was brought in to conduct experiential marketing which included in-store taste testing. Providing an experienced, professional team of brand ambassadors, Storesupport helped the brand increase their sales in these markets substantially and build brand exposure and clients for their brand.

These represent just two of the many success stories that illustrate just how effective an experiential marketing campaign can be. Taking advantage of the increased traffic visible during the holiday season, an efficient experiential marketing campaign can help to get your name out there and increase customer loyalty and brand recognition by letting customers try your product for themselves.

For more information about experiential marketing campaigns and their benefits, please contact Storesupport at 877-421-5081 or visit www.storesupport.ca.

The Key to Brand Loyalty is Effective Brand Management and Customer Retention Strategies Where Aging Consumers Are Concerned

Customer retention occurs when businesses conduct themselves in a way that results in repeat business, thereby retaining their customers. 

Customer retention strategies should be executed from the moment that a customer becomes a customer, and should extend throughout the lifetime of the relationship. Retaining your customers long-term will largely rely on your ability to service them. Customer retention strategies and maintaining a standard of excellence through great service will not only improve your ability to retain your customers, but will also result in positive word of mouth which will lead to additional new business.  

The most successful brands put the value of their customer before profits through investing in providing a superior service and striving to not meet but exceed their customers’ expectations. This model leads to brand loyalty that can last a lifetime. There have been studies released that have substantiated the direct correlation between customer retention and a company's overall profitability. While customer retention involves investment, the long-term payoff is immense. One study showed that engaged customers generate 1.7 times the revenue than normal customers do.

Brands need to have different customer retention strategies for different demographics. Older consumers represent the most loyal demographic. Brands must adopt customer retention strategies aimed at targeting these consumers and making their needs a priority. Small considerations like package sizes, legible labels with larger text, and packaging that’s easy to open are some examples of ways that a brand can go above and beyond the call of duty to retain customers in this demographic.

Older consumers are habit driven. They like to visit the same retailers again and again and tend to be very brand loyal. They are also more apt to spend more time at retail locations. The older demographic responds to service. In-store demonstrations and product testing are important if a brand plans to lure a customer in this demographic away from the brands they are currently loyal to.

Retaining these customers is less challenging because they have a tendency to fall into a habit. The fastest way to lose a customer in the older demographic is to allow your products to become unavailable to them. When retailers don’t restock a brand’s product on the shelf, it forces the consumer to try a different brand if they don’t want to endure the inconvenience of going to another retailer to look for the product. If the customer likes the new product that they try, in many cases the original brand will lose the loyalty of a customer in an older demographic.

Brands need to ensure that their products are consistently available across all retailers where their products are available, and counting on retailers to ensure this is a risky proposition. This is one area that brands should invest in and make a part of their customer retention strategies.

Customer retention strategies result in brand loyalty, and in the consumer packaged goods industry brand loyalty is the reason that some brands become a household name. The most successful brands at retail are only successful because of their ability to retain customers.

For more information about customer retention strategies, or if you would like more information about Storesupport’s services for brands, please contact us by calling 1 (877) 421-5081 or visit www.storesupport.ca.

Brand Loyalty Services Thwarts Social Media Impacts to Brand Loyalty

The social media boom has had major impacts to brand loyalty at retail. If anything, brands that have been able to properly leverage this very popular marketing medium have been able to improve brand loyalty. 

The Financial Times recently released an article, “Can Your Brand Win With Social Media,” which speaks to social media as being one of the most important global developments in media, marketing and technology today.

Through social media consumers can “like” a brand’s page on a social site like Facebook or Twitter, and scan a QR codes on in-store displays or on signage on the highway to receive discounts on merchandise. Brands can benefit from positive feedback made on their social sites by happy customers which can open them up to their social networks with an endorsement.

While the positives far outweigh the negatives, social media does have its “negatives,” and brands must address the negatives in order to ensure continued brand loyalty. Just as a consumer can take to a brand’s social media presence, or their own, to share positive experiences, they can also do so to complain about a bad experience. This is very damaging to brand loyalty because not only could the brand lose the customer who had the bad experience but also the brand loyalty of many in their social network. At the JVS Strictly Business event last year the key note speaker was Jordan Banks, Managing Director of Facebook for Canada. One interesting point made at the event was the stat that a consumer is 4 times more likely to buy from a brand that one of their friends or family members “likes”.

Another major challenge for retailers and brands alike is the emerging trend that CNN has tagged as “Showrooming”. This is where a consumer visits a retailer, sees and takes photos of products that they like, and then return home to try to find them online for less.

Social media and smart phones have also changed consumer buying psychology because of the speed at which they can get information or find what they need. If your brand’s products are not available, out of stock or difficult to find, consumers often do not have the patience they used to. They will simply select another similar product offered by a different brand.

The only way that brands can thwart the negative impacts that social media have on brand loyalty is to go above and beyond the call of duty to deliver a customer experience that exceeds their customers' expectations every time.

For this to happen, a brand must be on top of what happens with their products at the retail level and making an investment in brand loyalty services is a start.

There is no guarantee that every consumer is going to like your product, that is a different issue altogether, but you can take steps to guarantee that the customer receives top notch services and support when they look to purchase your product at retail. Your product must be accessible and available to consumers where they expect to find it and when they need it.

For more information about our brand loyalty services please contact Storesupport at 1 (877) 421-5081 or visit www.storesupport.ca.