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16 2013

What REALLY Builds Brand Loyalty? Surprise…

Syndicated from: Kelly McCormick

What really builds brand loyalty? Surprise… it’s not what you might think. Many social media experts, marketers and businesses have been led to believe that loyal followers turn into loyal customers. Wrong! “Engagement” — interacting as much as possible with (customers) and building relationships doesn’t hold on to customers. Are you kidding me?! Nope. So what really builds brand loyalty? What really builds brand loyalty? Surprise…your shared values turn followers into ongoing customers. What is a shared value? The Harvard Business Review says that “A shared value is a belief that both the brand and consumer have about a brand’s higher purpose or broad philosophy” Can you give me some examples of shared values? •   Patagonia, outdoor clothing and gear retailer, has a commitment to the environment and social responsibility. •   Pedigree Dog Food’s shared value is a belief that every dog deserves a loving home. •   Harley Davidson’s goal is “to fulfill dreams through the experience of motorcycling.” How do I figure out what my company stands for? Here’s how to identify what’s at the core of your business: Ask yourself, “What do I/we believe in?” and “What makes my/our products, services and business standout?” Where should I promote my company values? Your website is a great place to communicate values. •   Virgin Airlines has an entire page outlining their cultures and values. Including this one, “Our customers are at the heart of everything we do.” Tag-lines can also include your values. •   A few years ago, I did some work for former supermodel turned entrepreneur Kathy Ireland. She and her team made sure that I was aware of the company values defined in the tagline, “…finding solutions for families, especially busy Moms.” Customers of the Kathy Ireland brand are very loyal. According to Forbes magazine, in 2011 “her company sold an astounding $2 billion worth of licensed products at retail.” Your values can be also listed in your mission statement, on-line profiles and business cards. The sky is the limit. It’s your turn… Please share your business values, comments or questions below. Hi, I’m Kelly McCormick, a Business Growth and Marketing Strategist. I help entrepreneurs & companies to identify opportunities for growth. Plus, I develop targeted branding, marketing & sales strategies. Let me help you too!

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