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Brand Loyalty
oleg
subscriber Posts: 13 Bronze Level Member
How important is brand loyalty to you?
As a business owner, what do you do to promote loyalty among your customers? Do you believe it`s more important to find new clients, or to keep repeat business from existing ones?
As a consumer, how much does brand loyalty drive your buying decisions? Are you willing to pay extra/drive further/wait longer just to do business with a company you trust?
Personally, I think it`s extremely important - at least from my point of view as a consumer. If I have a positive experience with a certain company, I am very likely to consider them as my first option in the future. Often I will pass up a better deal or a more convenient option just because of brand preference.
For example, I owned a Sharp television set that worked like a charm for over a decade. When it was time for a new one I only gave a very cursory consideration to all other brands; and ended up buying another Sharp mainly because of the label. My last 3 cars were all Toyotas, most likely the next one will be a Toyota as well. 90% of the clothes I own are produced by the same handful of brands. If I need to make a purchase online, I will first first look on Amazon.com - and only look at other websites if Amazon doesn`t have what I`m looking for.
On the other hand, a negative experience will usually make me avoid the company by any means - I am rarely swayed by the promises of improvement. But if I have a negative experience with a company that I already consider a "quality brand," I am much more forgiving towards them than a company that I`m dealing with for the first time.
As a business owner, what do you do to promote loyalty among your customers? Do you believe it`s more important to find new clients, or to keep repeat business from existing ones?
As a consumer, how much does brand loyalty drive your buying decisions? Are you willing to pay extra/drive further/wait longer just to do business with a company you trust?
Personally, I think it`s extremely important - at least from my point of view as a consumer. If I have a positive experience with a certain company, I am very likely to consider them as my first option in the future. Often I will pass up a better deal or a more convenient option just because of brand preference.
For example, I owned a Sharp television set that worked like a charm for over a decade. When it was time for a new one I only gave a very cursory consideration to all other brands; and ended up buying another Sharp mainly because of the label. My last 3 cars were all Toyotas, most likely the next one will be a Toyota as well. 90% of the clothes I own are produced by the same handful of brands. If I need to make a purchase online, I will first first look on Amazon.com - and only look at other websites if Amazon doesn`t have what I`m looking for.
On the other hand, a negative experience will usually make me avoid the company by any means - I am rarely swayed by the promises of improvement. But if I have a negative experience with a company that I already consider a "quality brand," I am much more forgiving towards them than a company that I`m dealing with for the first time.
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