How well do you know your customers?
Smart brands focus on learning as much as they can about their customers both current and potential collecting data about age, sex, likes, dislikes.
While each product appeals to a different group(s) of shoppers, there are a few tried and true principles brands need to keep in mind to grow and maintain their customer base.
Brand Takeaway: Development is not a place to skimp. The thoughtful appearance of your website, storefront and overall brand image will go a long way! Remember: to get consumers to try your product or service, you first have to get them in the door (physically or online).
Quality Keeps Folks Around. The quality of your product also speaks volumes about what kind of company you are. Nobody wants to invest their cash into buying anything that was flimsily assembled! More than 80 percent of consumers say quality of a product trumps all else when it comes to their brand loyalty.
Brand Takeaway: One of the best ways to support your brand’s story and show consumers that your company is genuine and trustworthy is by selling a thoughtful, high quality product.
Final point: good quality product = a trustworthy, loyal customer base.
Loyalty (Programs, that is!) is Key. Bottom line: people like to save money and feel special. More than half of shoppers (56 percent) said that loyalty programs and other discounts/incentives make them loyal to a brand above any of its competitors.
As a consumer, it’s expected that a store or website you frequent to show its gratitude by hooking you up with occasional discounts, coupons and other promotions in order to incentivize and thank you for your business.
“For companies looking to retain their customers on a consistent basis, the importance of implementing loyalty programs and frequent discount type offers is huge. Companies that understand the importance of a reward systems and exclusivity are already a step ahead” said Salomón Juan Marcos Villarreal, president of Grupo Denim.