So You’re a Market Leader
As a brand manager, it’s easy to become comfortable when your brand is riding high on a wave of loyalty with the market share and sales to prove it. But here’s the truth: brand loyalty isn’t a given and it isn’t easily earned either. Sometimes based on market conditions, being the market leader doesn’t always translate into true brand loyalty. Regardless, it’s certainly not something that remains static.
Brand loyalty doesn’t come about simply because your brand is out there – and I would go even further to say – if you’re the only one out there.
A brand loyal customer base is the result of constant nurturing, respect, and—most importantly—consistent evolution. Your customers may love you today, but if you don’t continue to invest in that relationship, tomorrow’s landscape could look very different.
Why Complacency is the Enemy of Loyalty
I have always maintained that brand is a living organism. It must evolve and grow. When a brand reaches a certain level of success, there’s a temptation to pull back, thinking the hard work is over. However, like brand, brand loyalty is a living, breathing thing. It needs attention, care, and—yes—respect.
Consumers want to feel valued, and part of that value comes from knowing the brand they’re committed to is committed to them… and is in constant improving and growing mode.
Ignoring the need for continuous investment and evolution sends the wrong message to your consumer base: “We’ve done enough.” Even if you are a brand staple, there are ways for your brand to become more than that. Consumers need to know that you’ve got their back… that your mission is always to serve up things that make their lives, easier, better, warmer, happier and effortless.
And if that’s not enough of an incentive to keep investing and growing, remember that no market is foolproof, you can count on market dynamics shifting, and competitors are always ready to pounce, when they see an opening to just nudge it and take a little bite out of your loyal following.
Loyalty is More Than a Transaction—It’s Validation
I’ve mentioned it before, even if your brand is a market leader, it’s not enough to simply assume that dominance guarantees loyalty. Consumers want to feel validated in their choice of brand, especially when they’ve been loyal for years. It’s about recognizing their support and providing them with reassurance that they’ve made the right decision. This means brand managers needs to continuously invest in their brand to maintain a constant relationship with their customer base.
The Investment That Keeps Giving
Consistent investment, whether in marketing, customer experience, or product innovation, is key to maintaining your brand’s place in the hearts and minds of your customers. This investment can take many forms. It can be through new product innovations or offerings, exclusive offers other than rebates or coupons. The investment must reinforce the values that drew consumers to your brand in the first place. It can take the form of usage tips, how to, DIY or entering in a fun contest, information that is authentic and true to the brand persona.
Your consumers are your best brand ambassadors, but they need to be reassured that their advocacy is well-placed.
By continuing to engage with your audience and offering them these reminders, you’re not just thanking them—you’re reinforcing the connection and giving them reasons to keep choosing you.
Showing Respect is Powerful
Staying relevant by evolving is one of the most powerful ways for a brand to show respect. It demonstrates to brand loyalists that their loyalty is being recognized and isn’t being taken for granted. Whether it’s adapting your messaging, launching new products, or updating your brand identity to better reflect today’s cultural landscape, keeping things fresh demonstrates to your customers that you’re in it for the long haul—just like they are.
At the end of the day, it all comes down to this. When a brand understands the ongoing relationship it needs to have with its consumer base, it doesn’t just keep them—it keeps growing alongside them.