THE TWO-STEP PLAN FOR LIFELONG CUSTOMER LOYALTY
Thanksgiving was one week ago in the US, perhaps the least sexy of holidays. Love was on my mind, however, as all the plans for the meal start to fall into place. That’s because I’d completed my shopping early, which was … a pleasure. I live in the south, and I have a deep and loyal devotion to my local Publix grocery store.
For the uninitiated, that’s quite literally their slogan – “Publix: Where Shopping is a Pleasure”. And it actually is, which is a phenomenon I can’t readily explain. It is certainly not the fanciest option in our region, nor is it the best bargain. There is a magic equation that exists, a way of bringing life to your brand – for the logophiles in the room, an anthropomorphism – that allows for a true bond between company and customer. At TechSparq, we call this “The Living Brand”.
I Am Worthy
There is an intangible element here about value. Perhaps, as Ernest Ross deftly identifies in this Forbes article, it’s more so about value vs. worth. While I do not have the patience for coupons, I am not one to spend more money than I need to. That having been said, grocery shopping is a non-starter for me.
How is that possible? I could save money shopping elsewhere, but it doesn’t matter to me. I value you my time and I value my money. To maximize both, I know where I’m shopping. This is in every way what The Living Brand is all about.
You See My Soul
Who do you trust and why? For me, it’s the people that really know me. Creating that kind of connection with your customers is money in the bank.
56% of customers stay loyal to brands that “get them”
What could that kind of grassroots trust mean to your brand? We know that increasing customer retention by a mere 5% can lead to an increase in profits of as much as 80%. (For more on how to drill down into the data, read my previous post.) It absolutely matters that your customer know you, trust you, and stay loyal to you.
