Brand Loyalty
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To establish brand loyalty, various businesses use creative marketing strategies, such as loyalty or rewards programs, trials, and other incentives such as free samples.
When a business builds brand loyalty, they will experience continual growth as a business as consumers repeatedly buy from the business they trust.
Why is Brand Loyalty Important?
Having brand loyalty has a powerful impact on a business. It leads to repeat customers, customer referrals, and competitive advantage. Loyal customers willingly purchase regardless of the price tag attached to a product or service. The marketing messages used by competitors will have little to no effect. As well, these loyal customers will act as a spokesperson for your business.
However, to establish this level loyalty, the fundamental key is building trust with new and recurring customers. To achieve this, businesses that include a level of transparency, credibility, and responsiveness often become the leaders in their respective market or niche.