These days it seems a lot of “fatuous” stuff gets crammed into surveys. Digital surveys seem to have made that easier.
There’s been a lot of talk recently about how brand loyalty is disappearing. I don't think that’s true. I believe lots of things in the 21st century and over the past 30 years have morphed.
A recent spate of articles have declared that brand loyalty is in jeopardy, or even -- as suggested recently in a commentary in this publication -- “on its way out.” The reality is, brand loyalty not only exists, but is a measurable, leading indicator of consumer behavior and brand profitability, and is not going away anytime soon.
Our 25th annual Brand Keys Customer Loyalty Engagement Index survey found rigors created by the 2020 marketplace produced two loyalty challenges for retailers.
I was getting ready to brag. Not about myself, but about predictive metrics. Ones that identify consumer values and expectations describing how consumers will view, compare, and buy in categories. “Buying” being critical, given branding and marketing are businesses and not hobbies. Predictive values and expectations describe what consumers truly desire, then serve as a yardstick of how well they see your brand delivering. OK, enough evangelizing. Time to brag.
COVID-19, the economy, sheltering-in and working-from-home, some things open, others closed, not to mention the politicization of, well, everything, has put extra stress on all brands. What should a brand do?
Metaphorically speaking, your North Star should lead you to activities that cause your brand to better meet – even exceed – expectations consumers hold for the drivers of engagement and loyalty in the category in which you compete.
Netflix was #1 in the Streaming Video category, so we’d pretty much presume Netflix was going to do pretty well in their category. And they did. Most recently they added more than 200 million subscribers.
Loyalty has changed but it has not vanished. It has been transmuted through changes by consumers born hotwired to the internet.
It’s that time of year when people make New Year’s resolutions. You know, those promises that go in one year and out the other.
Whether a brand survives uncertain circumstances like the pandemic comes down to how much loyalty the brand engenders with its customers.
As marketing lore has proven, an ounce of insight ultimately turns out to be a real treasure.
For the past 35 years, Brand Keys, has conducted a year-end examination of our independently-validated loyalty and engagement metrics from 100,000+ consumers who participated in our surveys.
When new brands do show up in our innovation survey it’s a big deal. A really big deal. Consumers’ views of innovation have become bigger deals these days because innovation has a very definite half-life.
Tracking indicates Black Friday shopping has decreased over the past 10 years, replaced the rest of the year, pre-pandemic, with one in three consumers reporting shopping online at least daily.
Today – market research-wise – the term “silver bullet” stands for a simple, immediate, seemingly miraculous triumph over a complicated problem – a kind of one-solution-fits-all-and-satisfies-everyone resolution. In the real world, in the real marketplace, among real consumers it rarely exists, because consumer complexity and category specificity usually impede a silver bullet’s velocity.
The Truth About How Voters See The “Ideal” President.
In this column I’m going to talk to you through D-I-Y Presidential Prognostication. Why? Because there’s a U.S. presidential election coming up. No, really. It’s been on all the news.
No one should approach the temple of marketing research with the soul of an accountant.
Brand loyalty not only exists, but is a measurable, leading-indicator of brand profitability -- my response to recent article that expressed the opinion that, aside from fixated fans, there's no such thing as brand loyalty.
Do enough advertising and consumers will eventually become aware of your brand - but awareness alone is the longest route to profitability.
Consumers are pretty much unable, and often unwilling, to articulate the kind of meaningful consumer values that allow you to get a good look down the road.
Research has shown consumer brands are – or should be – apolitical. I’m talking politics, not Corporate Social Responsibility. There’s a difference. The minute your brand takes a political stand, one group of consumers or another is going to hate you. Not sometimes. Not often. Always!
Loyalty isn’t as nebulous as you might think. But it’s also not a lot of things.
Retailing has changed dramatically over the past decade but loyalty has always been a leading-indicator of positive customer behavior toward a brand.
Consumer expectations are up again. A lot. Why should that matter to marketers? Because “expectations” are a key determinant of customer loyalty, marketing success, and brand profitability.
Chuck E Cheese Needs Some Pizza Love During The Pandemic.
Starbucks has re-opened, but you can’t enter the stores, you can’t sit down, and you certainly can’t linger. So, what’s the difference between Starbucks and a corner coffee cart or a diner pick-up?
Now that the pandemic has forced Starbucks to change its operating model, Brand Keys' Robert Passikoff wonders what's the difference between Starbucks and a corner coffee cart? Fast Casual.
According to the 2020 Customer Loyalty Engagement Index, J.C. Penney has been #8 (of 8 sector brands we track) when it came to customer loyalty for the past 4 years.
It’s an unfortunate byproduct of the COVID-19 crisis. Ill health of and the ultimate passing of brands. Business2Community, by Robert Passikoff.
The January 2020 Brand Keys Customer Loyalty Engagement Index ranked J. Crew # 19 out of 20 Retail Apparel brands they tracked for sector loyalty.
The combination of an overly-intense focus on fashion while taking their eyes off the quality-for-value portion of the equation has resulted in a mass loss of loyal customers. SME News, by Robert Passikoff.
My take - and advice - on how brands need to manage through the current coronavirus crisis is much-needed perspective right now.
The COVID-19 pandemic is bad, and it affects everybody and every brand. But this is not the time to stop supporting your brand.
Brand loyalty is growing – not shrinking. But brand loyalty drivers are also becoming more complex and harder to sustain.
By Restaurant News