The propensity of a consumer to connect with or buy from a certain firm continuously is what we call customer loyalty in simple terms. Because of this, a loyal client is more likely to make repeat purchases with the company they’ve been attached to via their positive encounters.

According to Forbes.com, regular consumers spend 67 per cent more than new customers on products and services. While your most loyal clients only account for 20% of your audience, they provide up to 80% of your income, according to a recent study.

A client may be retained five times more easily than a new one, so focus on your existing customers and they’ll continue to buy and spend more throughout their relationship with your company.

As a business owner, attracting and retaining clients are two of the most difficult tasks. Customer service is essential, but it’s no longer sufficient. You should consider more creative ways to make your old customers stick around by promoting brand loyalty in marketing. 

Customer loyalty vs Brand Loyalty?

Both forms of loyalty are necessary for establishing and maintaining positive consumer connections. Customer loyalty is a measure of a customer’s willingness to spend money on a product or service that a company offers again and again, whereas brand loyalty is a measure of general trust in that brand.

These terms may appear to be interchangeable, but brand loyalty refers to the chance that repeats consumers who have purchased items from your firm on a regular basis would try additional products from your company before going to your rivals.

In clearer terms, there are minor distinctions between consumer loyalty and brand loyalty, despite the fact that they are closely connected. Customers’ commitment to continue purchasing from a firm based on the advantages gained from such transactions is known as customer loyalty.

Price, perks, and rewards have a big role in customer loyalty. The more the value or advantages received by a client, the more likely they are to shop with that firm again in the future.

Customers’ commitment to continue purchasing from a firm based on their experiences and perceptions of the brand, on the other hand, is known as brand loyalty.

Price or replacements have little bearing on brand loyalty. Customers place a high value on the experiences and benefits they receive as a result of their purchases.

Good Read: KPIs for Measuring Customer Loyalty

Why Should You Promote Brand Loyalty?

Loyalty marketing is essential for building long-term relationships with consumers who spend more. It’s no surprise that loyalty programme members generate between 12 and 18 per cent more revenue per year than the typical guest shopper, therefore many businesses are looking at ways to use loyalty to their advantage.

Here are 4 reasons we think you should pursue brand loyalty as a business. 

• Brand Loyalty Generates Greater Sales 

Customers that are devoted to your brand return time and time again. The more a customer connects with your brand, the more inclined they are to return to you to make more purchases.

Developing a loyal client base may assure long-term success and help to increase the sales of your company’s products and services. Achieving this level of client retention is a major accomplishment for organisations because of the huge sales they stand to make.

• Brand Loyalty Gives You A Competitive Edge

The majority of well-known brand-name items compete in a crowded market with new and old products, many of which are hardly identifiable. Customers that are loyal to your brand will identify and remain with your product and service, giving you a competitive advantage.

Even if new items that are comparable to or better than yours are released to the market, you will continue to generate as many sales as a result of the relationship you have created with your client.

Promoting brand loyalty in marketing reduces clients’ receptivity to competition marketing activities. Loyal customers are brand evangelists who will stay with you even if the competitor offers a better deal.

• Reduces the Cost of Customer Acquisition

Promoting brand loyalty through loyalty programs is a great way to keep making sales and stop spending too much on customer acquisition. Loyalty programmes are a marketing technique that allows your existing customers to earn rewards for patronizing your company. It’s not a new tactic, but it’s a powerful one that’s often neglected.

It gets your consumers excited about your brand and encourages them to talk to their friends about you because of the benefits you provide. It is one of the best methods of creating brand awareness.

Customer reward platforms like ThankUCash can help you with great customer reward services to improve your brand. You can find out more about their services here. 

• Free promotion for new products

With loyal clients, new products under the same brand become popular. Picture that Brand A is a car selling brand with over 1000 loyal customers. If Brand A decides to start selling Bicycles, it stands at an advantage of selling more products, than a brand with less loyal customers, or one that is quite new to the market.

In little time, Brand A might be measuring up to top competitors because of the awareness created by its loyal customers amidst its other marketing campaigns.

Promoting brand loyalty in marketing helps you build a large customer base that does not only promote your existing products but create awareness. If you treat your customers well and get them to be loyal to you, you will always get their support.