How to build brand loyalty with the help of social media
Why do some brands succeed more than others, even when offering almost identical products? The secret is often in brand loyalty, which makes people buy from such companies again and again. But how to make your audience feel this connection? We'll explain below.
What is brand loyalty?
In a nutshell, customers are loyal to a brand when they prefer it to competitors, even if they offer similar products and services at the same price or lower. We can also consider recurring purchases and advocacy as forms of brand loyalty.
Why brand loyalty matters
Today's market is undeniably overcrowded, forcing consumers to choose from a dizzying array of products and brands. New brands continuously enter the market, making it more challenging to retain loyal customers. According to McKinsey & Company, 75% of consumers have attempted a new buying habit since COVID-19 began, and 36% have tried a new product or a brand.
Nowadays, brands must outperform, provide extra service, and exceed expectations to attract new customers and prevent brand switching. Making people loyal to your business is thus one of the keys to success.
According to statistics, 56% of consumers stay loyal to brands that "get them." Many individuals eventually find it easier to stick to one brand and buy from it rather than trying new things every time, knowing that they can disappoint.
Aside from that, devoted customers like to suggest their favorite products to their friends and family, and they may even advocate for them in crisis situations. Another compelling research confirms that personal recommendations are one of the most effective motivators to purchase particular goods. 88% of individuals would be more likely to trust a brand if a friend or family member advised it. At the same time, if any of their friends or relatives had a bad experience with a brand, 26% of customers would avoid it on purpose.
But how to create that connection that will make people purchase from your business and recommend it to others?
How to create and maintain brand loyalty
As previously said, one of the main aspects of brand loyalty is recommendations. But what drives consumers to suggest products and services online? According to Statista's most current research, the primary triggers are the product itself, customer service, discounts or giveaways, and the desire to support a favorite brand.
Now, let's go through all these drivers in detail.
Create products that customers want
As a marketer, you probably know that all purchases can be classified as rational or emotional.
When making a rational decision, people consider features, quality, price, and so on. Brands should stay up to date on the primary features that customers enjoy in their products so that they can promote them effectively and improve them if necessary.
But how to find out what people value most of all? Start with social media, as people actively share their experiences with brands and discuss various products with others. First, you can check your own social accounts to see what followers comment or write in direct messages. Social media listening solutions provide you with access to more data, such as online discussions across different social networks, blogs, review websites, and other sources where your brand was not tagged.
YouScan allows you to track which aspects of your business are discussed on social media the most and how the audience perceives them.
Apart from monitoring your brand's strengths and weaknesses, you can also compare this data with your competitors.
Provide customers with an excellent service
Previously most companies focused on in-store service, but as online shopping and internet interactions have grown, the definition of good service has evolved.
Customers, for example, now expect firms to respond immediately to their comments or inquiries on social media, especially when they have a negative experience. On the other hand, receiving a prominent response would likely make the person feel appreciated and lead to becoming a brand fan rather than a hater.
For enterprises with thousands of mentions, it may be helpful to have all comments in one place so that no one misses a single one. Customer support often handles all inquiries through the CRM, thus YouScan has integrations with the most common ones and can add others on request.
Share your brand's story and values
Another winning strategy is to engage with your audience based on shared beliefs and values. Apple, Patagonia, and Glossier are some of the best examples of successful companies using this technique to create a connection with their audiences. When customers buy from such brands, they feel like they are a part of something bigger and proud to belong to the group.
For instance, Patagonia is best known not only for its quality, but also for its ethical business standards and its focus on the environment. Hence, many people prefer this brand to other outdoor apparel only due to the responsible commitments and CSR programs.
But how to spread the word about your company's values? Brand collaborations or influencer marketing are other effective approaches to attract new audiences that can become loyal based on shared ideas. Nevertheless, you should only choose like-minded partners that go with your communication.
But how to find a brand ambassador or an influencer with shared beliefs? At YouScan, you can easily do that in the Authors tab, sorting all the people who've positively mentioned your brand and got high engagement.
Typically, it's much easier to build relationships with self-proclaimed brand advocates, as they are already loyal to the brand. Such partnerships are usually more effective than working with bloggers prioritizing the number of followers over their engagement.
Making clients loyal to a company takes time and effort, but it is well worth it in the end. As you know, retaining customers is significantly less expensive than attracting new ones, therefore marketers should prioritize building a loyal community.
Do you want to know what things people value in your brand most of all? Request YouScan's free demo to see how you can use your strengths to keep your audience loyal.