Tag

Brand Engagement

Browsing

By LISA LOCKWOOD

These are among the brands known as “loyalty juggernauts.”

Levi Strauss, Nike, T.J. Maxx, Walmart, Dollar Tree, TikTok, Costco, Sephora, Zappos and Amazon led in their respective categories in an index measuring loyalty and customer engagement.

According to the 27th annual Customer Loyalty Engagement Index, those are some of the brands that are “‘loyalty juggernauts” — brands of such overwhelming economic force that their ability to meet expectations makes them far more powerful than universal awareness alone,” said Robert Passikoff, founder and president of Brand Keys, the New York-based brand engagement and customer loyalty research consultancy. The index examined customers’ relationships with 1,200 brands in 114 categories. Some 95,607 consumers, ages 16 to 65, were surveyed.

For example, Levi’s won in the apparel category (91 percent); Nike won in athletic shoes (89 percent); T.J. Maxx was in the top position in department stores (79 percent); Walmart won in discount (82 percent); Zappos won in online shoes (90 percent); Costco won in price clubs (89 percent), and Amazon came in first place online (96 percent). The percentages indicate their ability to meet expectations consumers hold for the ideal (100 percent) in their category.

“This loyalty paradigm has changed dramatically since the ‘Cola Wars’ of the ’70s,” said Passikoff. “Today, loyalty — and consumer choice — don’t come down to one-or-the-other option. Today’s loyalty bottom line comes down to consumers’ deepest expectations, and how they feel which brand measures up best. Customer behavior and brand loyalty are now almost entirely governed by emotional values related to expectations and expectations grow constantly.”

Passikoff noted a few economic facts that substantiate the cost-and-effort effectiveness of brand loyalty strategies. For example, it costs 16 times more to recruit a new customer than keep an existing one. A 5 percent increase in loyalty lifts lifetime profits per customer by as much as 78 percent, and a 5 percent loyalty increase is equal to a 12 to 21 percent across-the-board cost-reduction program.

He noted that being a loyalty juggernaut moves brands beyond primacy of product, distribution, ad budgets, even pricing. Being a loyalty juggernaut essentially commands category leadership. “The ability to meeting those very high consumer expectations better than the competition acts like the ‘super glue’ of loyalty,” he said. “Brands create a virtually unbreakable bond with customers.”

Feature Image Credit: SOPA IMAGES/LIGHTROCKET VIA GETTY IMAGES

By LISA LOCKWOOD

Sourced from WWD

By Amy Balliett

88 percent of audiences value brand authenticity, but the majority of marketers are ignoring the one strategy that will meet this demand.

Feature Image Credit: Getty Images

By Amy Balliett

Sourced from Inc.

By

  • A startup’s brand can be one of the most valuable assets for growing its team.
  • “People want to work for a cool, exciting company that they’ve heard of,” said Franky Athill, the head of marketing for Patch Plants, a popular urban gardening startup in London.
  • Athill was Patch’s fourth team member, and it has since added more than 40 others.
  • He shared his advice with Business Insider about two key things to remember when it’s time to add talent to your startup.
  • This article is part of a series on growing a small business, called “From 1 to 100.”

The search for talent presents a significant challenge for many startups, and the ability to recruit the best people is one of the most critical factors for success.

Startups with strong brand engagement can have an advantage in this respect by reaching a wider field of potential hires.

Franky Athill does exactly that as the head of marketing for Patch Plants, a popular London urban-gardening startup that he has helped grow from four to 45 team members since 2017.

The idea for Patch came about when founder Freddie Blackett was looking for a better way to keep his houseplants alive on the balcony of his girlfriend’s apartment, and he discovered that many other would-be green thumbs in the city shared the same frustration.

After Blackett spent a few years refining the idea in a startup incubator, Athill joined Patch as the fourth employee.

Up to that point, Athill’s career included stints with several other marketing outfits, most notably with famed fashion photographer Mario Testino, whose digital operation he set up and built to 2.8 million subscribers.

Athill spoke with Business Insider about how he uses his marketing channels as a recruiting tool to grow the Patch team.

Use your brand engagement to reach potential hires

Over the past three years, Athill has overseen the growth of the brand’s social reach to more than 200,000 Londoners. Over the same period, he said, daily sales have gone from just 10 to 1,000.

That pool of social followers is also where he has sourced the 40-plus new members of his team.

While a gardening startup may not have the glitz and glamour of a Testino photo shoot, Athill says Patch’s brand engagement is strong. After all, growing your team isn’t simply about finding more people, it’s about finding the right ones.

“That has helped us a huge amount because it means that we’ve been able to hire really good people through our own networks and through our own marketing channels.”

Generating engagement and excitement for your brand is vital for a startup, Athill says, and not only because it drives sales.

“Without it, it’s very hard to compete in the job space for the very best people,” he said. “They want to work for a cool, exciting company that they’ve heard of.”

It all comes down to a numbers game for Athill, who said that reaching a wider audience improves the odds that he will find a good fit to join the team.

Get help from a pro to filter your prospects

Once you’ve amassed a sizable applicant pool, Athill recommended that early-stage startups outsource the screening process to a recruiter as they grow beyond 10 people or so.

“A good recruiter can pay back their weight in gold,” he said. “Use your digital marketing skills and brand to fill a huge funnel [of applicants], and get [the recruiter] to assess that funnel.”

Having an independent perspective can help you save your energy and attention for the most promising candidates.

“Don’t let yourself get in a position where you’re going into interviews hoping that the person is great, because then you’ve left it too late, and now you’re under a lot of pressure to fill that seat,” Athill said.

And there can be a real cost to making a bad match, especially if one of the core leadership has to find a replacement for a new hire that didn’t work out.

“If one person is focused on hiring for a week, that’s a very big distraction. So I would avoid doing that,” Athill said.

By

Sourced from Business Insider

By Linda Landers    

How do you feel when you read a Disneyland social media post? Or an ad for the latest Apple product? Does a message from BMW or Audi evoke a particular response from you? These brands all excel at making emotional connections with their consumers that are designed to build ongoing relationships and trigger a purchase.

Think about what makes you choose one brand over the other. More often than not, it’s emotion. Through emotional branding, brands appeal directly to consumers’ needs, creating a connection that often results in long-term brand loyalty.

Understanding Which Emotions Drive Your Consumers

The products or services you sell can pique your buyers’ emotions, which is why many consumers often prefer brand name products to generic ones. You can capitalize and build on these emotions with a deeper understanding of why your customers do what they do.

For example, Disneyland taps into the following buyer emotions:

  • Excitement for new things
  • Fun
  • Family values

Disney’s television commercials, social media posts, articles, and other content center on these three emotions. The excitement of new rides, the discovery of a new park, and the pure joy that a Disney family vacation can offer.

What about Apple? With so many options for consumer electronics—phones, streaming services, tablets, computers—what makes buyers choose to spend more money on Apple products? Typically, it’s the desire for the best, and the desire to belong.

Apple has long focused on the emotions of those who want to own the latest and greatest technology. Those who own Apple products feel a part of a select group. Apple intensifies these feelings of belonging through marketing materials that focus on superior technology, and through the services they provide.

The ability to own a luxury car has long been a symbol of status. Car brands understand this and create imagery and content to cement and increase the feelings of self-achievement, the sense of power, and the desire to own the best.

What emotions do your products evoke in others? How can you sharpen and solidify those emotions into buyer loyalty? And do those emotions align with your brand mission and values?

Aligning Your Brand with Buyer Emotions

A deep dive into your brand should include a comprehensive understanding of your customers, inside and out. You can do that by creating buyer personas for your brand. What drives your buyers? What are their hopes, dreams, and desires? What do they do for fun? How can your brand help them achieve those hopes and dreams?

The emotion you want consumers to feel must be present during all aspects of their interaction with your brand, from first encounter to their most recent purchase. That includes service before and after the sale, each and every time. To create real, lasting connections, check in with your buyers—ask them pointed, thoughtful questions about their experiences with your products, and give them a chance to make suggestions.

Embrace Change

In most cases, a buyer’s motivation for making their first purchase is not the same motivation for future purchases. A buyer may purchase their first BMW out of a sense of self-achievement. They’ve reached the point in their careers where they can afford one of the best vehicles on the road, and they’re proud of that accomplishment.

But what prompts their next purchase? They’ve already satisfied that need for self-achievement, so the next purchase will be based on another emotion – perhaps the desire for a safe driving experience, or their trust in the quality of workmanship.

Apple understands this, too. Buyers often want to have the best that’s available, and they want the excitement of discovering new products and features they haven’t experienced before. And then there’s Disney, which brings 48 million people back through its gates each year by creating new rides and experiences for their consumers to enjoy.

Your brand can’t rely on the initial purchase motivation to keep customers coming back. Whether in-house or working with your outside PR/marketing firm, you must continue to identify the experiences and emotional connections that are important to your consumers and provide them throughout your relationship with them.

Feature Image Credit: stux / Pixabay

By Linda Landers    

View full profile ›

Sourced from Business 2 Community

Brands that successfully connect with a consumer’s core values are significantly more likely to set a foundation for brand fidelity, advocacy, evangelism and, ultimately, obsession—and U.S. brands are missing a tremendous customer opportunity by failing to make this connection, according to marketing tech firm Rakuten Marketing’s latest Insights report, What Makes People Love the Brands They Love.

The report provides an in-depth look at the current state of marketing, consumer loyalty behavior trends, brand applicability and guidance to drive greater customer brand obsession, and key data and insights.

In this study, more than 1,500 consumers were polled on the reasons they do or do not engage with brands. Rakuten analyzed and combined these responses with advertising performance data collected from approximately one million consumers who made over 1.2 million purchase transactions. They discovered that a staggering 68 percent of study respondents stated no loyalty to any one brand—and for the 32 percent who were brand loyal, lifetime engagement was a primary driver.

The study also introduced the concept of a “brand affinity hierarchy,” which outlines six stages of consumer engagement that enable marketers to better understand what degree brands are achieving human-centric brand relationship-building with their consumers.

Mastering the six steps of brand engagement

“The customer-to-brand relationship is invaluable to the success of every brand, and in today’s marketing arena, where technology and data takes precedence, marketers can lose sight of this,” said Bridget Fletcher, marketing VP at Rakuten, in a news release. “This study shows the critical importance for brands to establish meaningful consumer connections—ones that are authentic, emotionally-driven and fueled or facilitated with technology and data. Consumers look for connections, not just transactions.”

The study also analyzed the value of repeat customers by analyzing purchase behaviors and found a steady performance improvement as consumer purchases increased.  Not surprising, when consumers make more purchases and purchase more frequently, brand value increases.

Mastering the six steps of brand engagement

The study showed that, as consumers transition from being acquainted with a brand (2-3 purchases) to trusting a brand (4-5 purchases), they develop a relationship where they are more likely to purchase again. This was demonstrated by a 1.9x increase in customer value between second (brand acquaintance) and fourth (brand trust) purchases. The value of the brand increased as purchases increased, demonstrated by a 7.2x increase in customer value between the ninth (brand fidelity) and first purchases (brand awareness) and an 9.7x increase in customer value between the twelfth (brand evangelism) and the first purchases (brand awareness).

Mastering the six steps of brand engagement

“Attracting and keeping loyal customers is a bigger challenge than ever in our current retail environment. The opportunity to build loyalty has shifted online, as consumers become increasingly less engaged with brick-and-mortar experiences, putting advertisers in competition with Amazon and Google to sell their own products,” said Rakuten CEO Tony Zito, in the release.

“It’s critical that brands leverage advertising strategies that bring new consumers to their own online storefronts, and keep existing customers coming back, so they don’t lose their loyal customers to another platform. We’re dedicated to helping brands strategically leverage our Integrated Marketing Solutions to achieve this, so they can build the affinity and trust required to grow their audience of loyal customers, repeat purchasers and brand evangelists.”

Download the complete study here.

Bulldog Reporter

Bulldog Reporter is a leader in media intelligence supplying news, analysis and high-level training content to public relations and corporate communications professionals with the mission of helping these practitioners achieve superior competitive performance.

Sourced from Agility PR Solutions

By

Email ranks in the top three tactics used by marketers to drive brand experience, according to a study released today by Freeman and SSI.

Of over 1,000 marketers surveyed worldwide, 58% use Web sites, 57% social media and 51% email marketing. But they’re not utilizing “game-changing” technologies like interactive touchscreen technology (cited by only 22%) and virtual reality (8%), the study continues.

The survey covered CMOs, brand managers, event planners and marketers in both B2B and B2C, and found that companies involved in 20 or more events per year are more likely to use the newer technologies.

Specifically, 20% of these firms use interactive screen technology, and 21% deploy location-mapping/beacons. In addition, 16% utilize virtual reality and 16% gamification in some form.

From a geographic standpoint, Asia seems to be ahead. Of the Asian marketers polled, 42% use sensory interaction to personalize the brand experience, compared to 28% in North America and 13% in Western Europe. Plus, 31% use virtual reality, compared to 9% in North America and 7% in Western Europe.

Meanwhile, companies expect to spend more on brand experience. Of the CMOs surveyed, 33% plan to allocate 21% of 50% of their budgets to the discipline.

In contrast, 28% of the B2B marketers and 18% of the B2C will budget the same amounts.

In Asia, 32% of marketers anticipate spending more than one-fifth of their budgets on brand experience, compared to 23%of the European firms and 27% of the North American outfits.

Freeman found that a positive brand experience supports these goals:

  • Lead generation – This was listed by 54% of the B2B marketers and 53% of brand managers
  • Making customers feel valued – This was cited by 61% of North American marketers and 56% of Western European counterparts
  • Increased sales – This goal is pursued by 56% of North American marketers and 50% of Asian firms.

By

Sourced from Media Post