August 04, 2020|
5 min read
Let Your Best Customers Lead You
Something many people have noted over the last few months is an uptick in loyalty. People want to support businesses they know, especially in their communities. That’s led to lots of campaigns to “shop local” or “shop small.” It’s also benefiting bigger brands too—people know Tim Horton’s is an important part of their community or they know someone who works at McDonald’s.
It’s an interesting phenomenon, because what we’re really seeing, in so many ways, is a re-emergence of loyalty. The divide is sharper. Customers want to stick with what they know, support the brands they already love. Part of it is voting with their dollars to ensure their community, friends and families have some security and the other side is personal security, knowing these same people are vested to ensure all are safe.
Thing is, our customers have always been loyal. The difference is we’re noticing these people as they are advocating in a louder way, than perhaps ever before!
Our Customers Have Always Been Loyal
Lots of us have been told that brand loyalty is dead. Millennials and Gen Z don’t shop the way their parents do. The Internet has made it all about low prices, because people can always get it cheaper on Amazon.
Yet, if we look at the numbers, we’ll see a different picture:
· 80 percent of our sales come from just 20 percent of our customers (Pareto Principle)
· A returning customer spends more than a new customer
· Over time, a loyal customer’s account has a much higher value than a new customer
We also know that loyal customers are more likely to tell their friends and family about our brand.
Understand the Loyal Customer First
There’s a tendency to take our loyal customers for granted. They’re loyal, so they don’t need any convincing. We have to entice new customers to try our brand, or we have to convince one-time customers to stick with us. Our loyal customers keep coming back anyway, so we focus on “tough customers.”
Understanding our loyal customers is actually key for brand success, though. By asking them why they’re here, why they choose us over anyone else, we can understand what makes our brand unique subconsciously, where decision making is made.
This can help us discover the essence of our brand. What do we deliver to our customers that they just can’t get anywhere else? When we know the answer to that question, positioning ourselves in the market, building ad campaigns—all of it is so much easier.
We might think we know what our customers want, but our answers often fall short. Most people aren’t here for the best price or the product itself. They’re here to buy a particular brand experience—our values, our beliefs. That’s what we’re delivering to them, and that’s why they keep coming back.
Let Your Loyal Customers Guide You
When we listen to our customers, ask them questions, and work to understand them, we’re in a much better position to build our brands in a way that’s true to their essence.
Marketers are often in a position of not being able to see the forest for the trees. It’s hard to get a clear picture of your brand when you’re in the thick of brand messaging and advertising.
Our customers have that bigger picture, because they’re standing on the edge of the brand forest. They’re in a much better position to point out the path they think we’re on. Better yet, since they’re fiercely loyal, they’re willing to come with us on this journey and act as guides.
In marketing, we’re so often in the position of thinking we need to guide the customer. In all actual fact, the customer knows where they want to go and they usually have a pretty good idea of how to get there! They have values, and we need to tell them how we’ll meet their expectations and provide for their needs. When a loyal customer comes back to us time and again, we can ask them why they chose us—and they’ll tell us how we fulfill their needs.
We don’t necessarily need to lead them here, to convince them—they already know what we do and they love it. When we can embrace that knowledge, we can develop a brand that showcases what we do, who we are. That alone is often enough to draw other people in, especially as our loyal customers continue to buy from us and advocate for us.
When we let our best customers take us by the hand, we’ll develop not only a better understanding of them but a better understanding of our brand too! And it all starts with asking that fundamental question—why!
Meet Margo…brand visioning & marketing
Margo Jay is a Master Brand Strategist with a career leading globally recognized brands; developing and launching a proven model that maximizes competitive sales potential and consumer appeal. She has built the model to help companies of all sizes. Her Client roster includes entrepreneurs through to Fortune 100 brands: NHL teams, Global QSR brands, CPG brands, Broadcast brands, Agencies, Non Profit brands, Hard goods…this model and process provides competitive advantage in any category.
Complete clarity. Ownable distinct selling proposition. Shared values. Brand Clarity. Brand Focus. Brand Inspiration. Brand Obsession. Unlocking brand potential is what she does.
And it all starts with why!
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