Are They Thirsty for More? July 22, 2013My BusinessOff

Ever wonder how businesses like Starbucks and Disney attract hoards of loyal followers despite the struggling economy?

According to Michelle Seiler-Tucker, author of Sell Your Business for More Than It’s Worth, the key is brand loyalty.

She offers these tips for building a loyal following.

Connect with your customers.
“Today’s consumers want more than the product they are purchasing,” Seiler-Tucker tells PINK. They are looking for an experience. She suggests offering a sensory package.

“Everything should remind them of where they are right down to the look, touch, taste and smell.”

Anticipate needs.
A better alternative to giving customers what they want is being able to anticipate what they need.

“Amazon has built a business around this, offering intuitive purchasing suggestions,” notes Seiler-Tucker. “Not only does this element of the online retail site drive sales, it also enhances the user experience.”

Be consistent.
A quality product will land you customers, but brand loyalty is created by consistency.

“Make sure the product you offer consistently exceeds the expectations of your customers,” she suggests. It can be hard for customer’s to recover from a negative experience.

“Reversing a negative brand perception is even harder than building a brand from the ground up.”

During the Great Recession, Starbucks created a customer rewards program, expanded their product offerings and added free WiFi to its stores.

Today, people spend entire days there working and drinking lattes – as if there are no other coffee shops.

Bonus PINK Link: Learn more about building brand loyalty here.

How has your company increased brand loyalty?

By Sonya Washington

“Decision-making about brands … all comes down to one question: how will this make me feel?” Kim Cramer

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