Build Brand Trust and Loyalty
Building brand trust and maintaining loyalty to that brand is crucial to the long-term success of nearly every type of business. Customers must believe that your product or service will consistently deliver high standards. There are several aspects of building trust and brand loyalty that you need to understand to create and expand a successful business.
Why Do Brand Trust and Loyalty Matter?
Brand trust matters because it means you have a solid base of customers who will always buy products from you. This will protect your business against new competitors and lower-priced competition. Well-known examples of brand loyalty are Apple and Nike. People will stand in line for hours to buy the newest smartphone or a pair of shoes that costs $225. Both Apple and Nike have expertly nurtured these “brand best friends.”
According to Forbes, building brand loyalty is more difficult than ever due to the ease with which consumers can search for discounts online. This same factor makes creating brand trust more important than ever. From the earliest stages of a startup, developing customers’ trust should be a priority.
What Shapes Customer Loyalty?
Building customer loyalty is something that takes time, effort and conscious planning. You can develop a customer’s loyalty in several different ways.
- Provide Value and Quality. The first step to building a solid customer base is to consistently provide a service or product that is high quality.
- Always Be Transparent. Transparency can take many forms, one of which is access. The Guardian points out that the company Naked Wines provides an online platform that allows customers to interact directly with the winemakers.
- Focus on Your Best Customers. Shopify explains that focusing on your primary customers means understanding not only who they are but also what’s important to them and how to reach them. Do your best customers spend a lot of time on social media or is it better to reach them through TV or radio?
- Continually Engage Those Customers. Once you know who your primary customers are and how to reach them, it’s imperative to listen to their needs. Giving them special perks such as loyalty programs can make them feel welcomed and personally valued by your company.
How Can a Retailer Build Brand Trust?
It’s important to focus on finding a solution for each customer’s specific needs. This goes further than just focusing on the next sale. Arranging your retail space is a way to connect with the customer and tell the story of your product. Consistent color schemes and the appropriate lighting are essential to promoting your brand through retail display. Displays that are arranged throughout a business with customers in mind can act as “retail theater.” These types of displays should be set up in a purposeful pattern to be part of product storytelling throughout the store.
This also means engaging all the senses. Racks, display stands and retail store fixtures need to be attractive and engaging. Playing the right music can also have an enormous impact on what and how much customers purchase. Even the scent that permeates a store can affect buying habits.
How Can Retailers Maintain Customer Loyalty?
If brand trust is tarnished or broken, it can be very difficult to rebuild, and the results can be devastating. It’s important to keep connecting to your customers in new ways. According to Entrepreneur, pop-up events can provide your customers with fun and fresh ways to stay connected to your business. These events are normally located in high-traffic areas and often during busy times, such as the holidays.
SPC Retail can help you arrange your selling space with the needs of your customer in mind. They can create promotional displays using affordable fixtures that are durable, versatile and great for the environment. They work with both small and large businesses. Contact SPC Retail for more information.