The Ultimate Marketing Goal
While many businesses direct all their efforts in increasing conversions (sales), leads (customers) or engagement (followers) on social media, the ultimate goal of a successful and profitable marketing strategy should be building brand loyalty.
As Bill Price founder of Driva Solutions once said, “Smart companies have realized that customer loyalty is the most powerful sales and marketing tool that they have.”
Brand Loyalty refers to loyal customers that repeatedly buy from your business. Usually, this loyalty is based on an emotional connection between your brand and your audience when the relationship brand/customer goes beyond mere transactions.
Loyal customers consistently share your company values with their family and friends through word-of-mouth, advocating to it, helping companies to reduce marketing costs and increase profitability. ‘If people believe they share values with a company they will stay loyal to the brand’, Howard Schultz.
Having loyalty from your customers gives you a competitive advantage in the face of competition, increasing your market share and brand resilience when in difficult times, ensuring stability for the business.
Ultimately, businesses that aim to increase brand loyalty have customers consistently choosing the brand over competitors, advocating for it, and becoming brand ambassadors. This level of loyalty leads to sustainable business growth, increased profitability, and long-term success for the brand.
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