Do you always drink the same brand of soda or coffee? Do you always shop at the same store? If so, why? In Brand Loyalty & You Part 1, we addressed the rumor that consumers are no longer brand loyal. We asked you to think like the everyday consumer and answer our questions on this hot topic. Some of the results may surprise you! Here is what you had to say:
First, let’s look at the age range of those who took our survey:
Brand loyalty occurs when a customer chooses to repeatedly purchase a product or visit an establishment rather than that of a competitor. We asked you if you consider yourself loyal to any brands.
40% indicated that they are are fan of many different brands.
Only 20% said that they only buy based on what’s on sale.
We asked you to name three brands that you are loyal too! This part was fun and contains a wide variety of brands and companies. Do some of these responses surprise you?
Kraft, A1, V8, Gaia Herbs, Nia 24, Kerrygold Butter, Maurice’s, American Eagle, Nike, Dawn, Carefree, Always, Huggies, Crest Toothpaste, Secret Deodorant, Van Camp, Pillsbury, Heinz, Oreo, Cheez It, Victoria’s Secret, Born Concept Shoes, Ann Taylor, Budweiser, Clorox, Method, TJ Maxx, H&M, Apple, Mary Kay, Mountain Dew, Mori Lee, Bath & Body Works, Monical’s Pizza, Dress Barn, The Buckle, Tide, Folgers, Glad
Would you switch to a competitor for a lower price? The answers to this one may surprise you!
40% said that they like to try out new companies.
13.33% said that if a company continues to deliver, they will never switch.
26.67% that they wouldn’t switch for lower price, because they like to buy from companies they know and love.
Does a company’s involvement in the community influence your decision to do business with them?
60% indicated that community involvement is important in choosing a company or brand.
Have you ever made the decision to switch brands or companies? What influenced your decision? We asked you to share your own personal experiences and while the results tend to vary, there is one common factor:
Other factors that lead to a brand or company change were sales and coupons, quality and a negative image.
Think about your favorite brand. Now describe your feelings toward that brand.
20% trust their favorite brand completely.
20% said they love that brand.
13.33% like the brand because of what it stands for.
40% said that they stick with their brand of choice because they offer great products.
Are you open to changing brands? What would it take for you to make the switch? One respondent said
“Once I fall in love with a brand, it’s very hard for me to switch, as I tend to compare everything else to that brand.”
Other respondents indicated that price, quality and customer service are reasons why they would make the switch.
As business owners, how do these results affect you? Brand loyalty is important for several reasons. It reduces the cost of production when your sales volume is higher. Also, companies with brand loyal customers don’t have to spend as much money marketing a product, meaning that you can invest in other resources to better their businesses. Finally, loyal customers tend to recommend products and companies that they like, which is why we always stress the importance of social media.
Businesses have to work hard to facilitate brand loyalty and to convince customers that their product, service or facility has an advantage over others in order to lead to consistent purchases. The real question is, how are you going to leverage brand loyalty and keep new customers coming? It’s time to put yourself in the shoes of the everyday consumer and target your message(s) accordingly.