Chapter 6 – The Power of Trademarks in Modern Marketing
It all comes down the Know, Like, Trust model or our preference:
Visibility – Being Seen
Credibility – Building Trust
Profitability – Levering Trust to gain revenue
Think about your last few impulse purchases.
Was it from somebody new or a brand you already trust?
The likelihood is that it’s the later because you trust people you have already purchased from (PROVIDED THE EXPERIENCE WAS GOOD).
Building a sense of community among your fans and customers is a great way to fostering long-term loyalty. A helpful exercise could be to put yourself in your customers’ shoes and understand their motivations and desires.
Do you know who does this brilliantly?
Starbucks
Starbucks engages its customers by offering a range of branded merchandise, such as reusable cups, mugs, and tumblers.
Special edition items and seasonal collections create excitement and encourage repeat purchases. Every season a new product is released, and loyal Starbucks fans purchase these items as soon as they see them.
In fact, some of them specifically go into the store to buy these items and then buy a coffee since they are already in the store! A coffeeshop selling coffee as its secondary product!
Building and strengthening relationships between your brand and your customers takes time, engaging your customers with branded products, creating limited-edition or better still exclusive goods or services, helps foster a sense of belonging.
It’s more than just what customers think of your brand, but it’s about how your brand makes them feel.
Questions about this
How does a brand build customer loyalty?
By earning trust over time. A simple model is visibility, credibility and profitability: being seen, building trust, then using that trust to gain revenue. Customers tend to buy again from brands they already trust, provided the experience was good. Building a sense of community and understanding customers’ motivations and desires helps foster long-term loyalty.
Answered by Saad Ashraf, Marketing ManagerHow does Starbucks use branded merchandise to build loyalty?
Starbucks offers branded merchandise such as reusable cups, mugs and tumblers, with special editions and seasonal collections that create excitement and encourage repeat purchases. Some loyal fans go into a store specifically to buy the new items and then buy a coffee while they are there. Limited-edition or exclusive products help customers feel a sense of belonging to the brand.
Answered by Saad Ashraf, Marketing Manager
