Brand loyalty is a behavior pattern that occurs when customers make emotionally-driven decisions to repeatedly purchase a specific brand. Whether this decision is conscious or unconscious, this kind of purchasing reflects how the consumer identifies with the brand on a personal level as the brand meets the consumer’s expectations.
Once these repeated purchases become regular enough, these products and services become associated with a particular brand. The marketing practice that utilizes this behavior pattern is what is called loyalty marketing.
Where does brand loyalty come from?
Brand loyalty doesn’t always come from a dedicated customer base at first, but the quality of the product or service itself that meets the consumer’s expectation. Apart from this, there are other factors that could influence brand loyalty, from customer satisfaction to perceived value and brand trust.
While the internet has allowed for more diversity, with more products and services now intensely competing for customers, the good news is that brand loyalty and loyalty marketing are both alive and well.
One of the most active consumer bases to engage in loyalty marketing are millennials, as they are more likely to establish a more meaningful, emotional connection to these products and services.
This is what distinguishes repeated purchases from brand loyalty. By discovering and studying the gap between their brands and the customers’ ideals, companies are able to continuously meet the needs and requirements to achieve customer satisfaction.
Why does brand loyalty matter to your business?
In competitive markets, brands need to constantly engage their customers in order to know what they want and need. A well-recognized brand with a loyal consumer base can withstand most micro- or macro-environmental factors that you will encounter as a business owner.
The biggest advantage that brand loyalty can offer your business is by having a dedicated customer base. Communities can even form because of this loyalty to one brand, which can take the form of online forums and social groups.
Having customers that choose your brand consistently is one of the best things that can happen to your business, as they will provide for a constant stream of income. This allows you to expand through their referrals, which is essentially free word-of-mouth marketing.
How do you build brand loyalty?
Even if your business in Singapore is doing well, you need to protect your brand in order to fully establish it to a larger market.
The first step to gaining brand loyalty is by establishing your brand. You can achieve this with the help of Singapore www.brandmark.sg on trademark registration. Trademarks are used to protect intellectual property similar to a copyright or a patent, but registered marks are different in that they are used specifically for products and services.
Trademark registration in Singapore is now easier than ever, which is all the more incentive for you to register TM for your brand. The process now essentially boils down to these steps:
1. Application – Your trademark registration application must include your name and address, a clear representation of your registered mark, a complete list of goods and services in relation to the product and/or service you wish to trademark; and a declaration of your intent of use.
One of the most important things to consider when registering your brand is the logo. While it is a prerequisite for you to follow the guidelines when it comes to logo design, you need to make sure that your logo design is eye-catching.
2. Examination – Your application will then be examined to check if the mark is registrable. If it is acceptable, it will be published. However, if your application is deemed objectionable, you will receive an examination report containing the grounds for refusal.
You will be required to provide necessary information or amend your application within four months. If you don’t respond within this deadline, your application will be treated as withdrawn.
3. Publication – If application is approved, it will be published in the Trade Marks Journal for scrutiny. During this time, competitors or owners of prior existing intellectual properties can file for an objection. In the event that there is an objection for your wanting to register trademark, for your brand, you will be notified.
4. Issuance of Certificate – If you don’t receive an objection two months after your application is published in the journal, you will be issued a certificate that gives you exclusive rights to use and exploit the brand name. The protection offered by your registered mark lasts for a minimum of ten years.
The advantage of applying to register trademark for your brand is that as long as you use it and not simply sit on it, you can renew it for as long as you like.
Now that your brand is established, focusing on marketing is key. There are a few things you need to keep in mind when building brand loyalty among your potential customers:
• Reliability – People choose brands consistently because of their satisfaction regarding this brand’s quality in terms of products, services, and even the voice. They are more likely to choose your products repeatedly if your brand is consistent in offering this said quality.
• Personality – Having real conversations with your customers and giving them a personal experience is a great way to assess their individual needs.
• Loyalty programs – Offering rewards, such as discounts and freebies, can encourage customers into making repeat purchases. However, you need to choose these rewards for particular services carefully. One way to do this is by reserving these rewards for large one-time purchases.