Many brands spend a lot of time thinking about loyalty. So much so, in fact, that the people who manage these brands have invented a new word – “loyalize.”
By “loyalty” they mean the rate at which their consumers continue to buy their brand. This is all about them. It’s all about what the people are doing for the brand.
I think it’s time for a new brand loyalty. The loyalty of the brand to the consumer. I think it’s time that brand managers constantly ask themselves how loyal they are to their consumers. What they are doing to earn repeat business. How they reward the loyalty of their consuming public.
The one-way street is being closed down. If brands want people to be loyal to them, they will have to do a much better job of earning it. The more brands think about what they can do for others, the more they will benefit from the love and loyalty of consumers.
Yes, a brand is an asset on a balance sheet. But for marketers, that is just not the right way to think about a brand. It’s much better to think of a brand as a service you offer the consumer rather than an entitlement you have.
{ 2 comments… read them below or add one }
Totally agree. It’s frustrating to see brands trying to force consumers to view them as they want to be seen, vs. following a natural path of what consumers want the brand to become. Brand marketers should absolutely be a major force in guiding, influencing and shaping how consumers experience the brand but too many are just ignoring their customers. Pull those fingers out of those ears!
BTW those made up marketing words like “loyalize” crack me up.
As always Matt – right on!