Like Minds. Brand lesson #2: Loyalty

One of the great benefits of the Like Minds conference is the fact that they use every opportunity to add value to your attendance. A great example is the Lunch Time Talks; you get to spend lunch time with someone who knows an awful lot about a specific subject. At the October event I took the opportunity to have lunch with Robert Clay.

Robert helps businesses to be market leaders in their sector, and lets face it, what business-owner wouldn't appreciate some expert advice on how to achieve that? The lesson Robert shared with us over lunch was this:

There are three ways to grow a business:
• Get more new customers
• Get existing customers to buy more often
• Get existing customers to buy higher value products or services

A great lesson for any business to take on board, but from a brand perspective it's really fascinating. A lot of people struggle to understand, or articulate, the value of brand to a business. Robert Clay gave us three. Your brand is integral to each of those strategies listed above, and arguably any decent brand communication strategy should really be working on all three.

But I just want to look briefly at the last two - how to nurture loyalty in existing customers - because that's the key to influence their behaviour. Loyalty is the result of developing strong relationships with your customers, relationships built on trust and honesty. If you deliver what you promise to your customers, they will be loyal to you, because they trust you.

At the heart of this relationship is the personality of your business - your brand - the culture and values that your promise to your customers is built on. For your personality to add maximum value to your business it should tell your customers four things:
• Who you are
Typically through your visual identity (logo, colours etc.)
• What you do
Not the products and services you offer, but the benefit of them to your customer
• How you do it
The way you deliver the benefits. Often reflected in your values.
• Where you are going
If they buy from you, how will make their life/business better? Where will you take them?

If you can achieve this, you're well on your way to developing a loyal customer base. And a loyal customer base will give you the opportunity to put Robert's strategies into practice, and realise the value of brand to your business.

If you'd like to learn more about your brand and how it could help to grow your business, you might be interested in the free seminar's we're running in December and January. If you'd prefer to have a chat call 01392 248107 or email jonathan@alderandalder.co.uk