We are all well aware that customer loyalty is critical in every aspect of the retail world – last week we even discussed it with regard to the social online environment – but some undeniably do it better than others. Forbes’ recent article “2015’s Brands With The Most Loyal Customers” demonstrated this by giving us a look at those top brands that have managed to beat out the competition when it comes to customer loyalty.
Check out the Forbes article here http://www.forbes.com/sites/robertpassikoff/2015/02/16/2015s-brands-with-the-most-loyal-customers/.
This list, actually called the Customer Loyalty Engagement Index, done annually by Brand Keys, is created by rating brands based on their ability to meet customer expectations compared to the competition. A total of 540 different brands, in 64 different categories, were analyzed. What kinds of categories are we talking about here? Everything from airlines to fast food restaurants, car manufacturers to hotels, search engines to insurance.
So what do these brands have that you don’t, besides a spot on the list? Brands that top the list are those that do a number of different things, really, really well. Check out the list here: http://brandkeys.com/portfolio/customer-loyalty-engagement-index/.
According to the article, “In a marketplace where brands struggle to create meaningful differentiation and engagement, those who can able to identify customers’ expectations and address them via authentic emotional values, will see tangible bottom-line results, which come in the form of higher engagement power, more loyal customers and, axiomatically, greater sales and profits.” Clearly brand identity is intrinsically linked to customer loyalty, as the brands on the list have come to recognize.
Since consumer expectations seem to grow every year (according to the Forbes article, customer expectations increased by 28% this year), brands need to continually recognize and adapt, making new expectations a priority alongside traditional ones.
If you need to revamp your customer service and customer loyalty strategy, Storesupport has the tools to help. Give us a call today at 1 877 421 5081.