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S3-E9. Brand Loyalty: What does it take to build?
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We love the product-We love the service-We love the company
or
We love the company-we love the product or service it produces.
or
something in-between...
All of us at least cherish that one product or service where we will get into a conversation with our friends and acquaintances, share our thoughts, experiences and also defend them in case we believe that the person on the other side is sharing which is not in sync with & that is called word of mouth.
Check out:
Royal Enfield - a brand that was revived from death or near bankruptcy as the owners of the motorcycles connected with its legacy, craved for its experience and look at how the One Ride & Himalayan Odyssey is making its mark.
Lego - We played with lego bricks as kids, and loved & cherished them, the 75 yr old company was bought back to life as it tapped into the community of its fans.
Check out what scientists at CERN did https://home.cern/news/news/experiments/using-lego-study-building-blocks-universe & https://home.cern/news/news/experiments/build-your-own-tiny-lego-lhc
Welcome to Season 3 of the Be Empactful Podcast. In this episode, we have Mr. Abhishek Sagar, AVP Growth at Amura, a MarTech company where we discuss what it takes to build Brand Loyalty.
A sexual awareness brand increased its revenue from Rs. 6 Cr. ARR to Rs. 12 Cr ARR, as they felt connected to the brand and were purchasing the product even if there were alternatives available in the market.
An Electric Vehicle company invested in its vendors, subcontractors & stakeholders who amplified the word of mouth in a way where the end customers started talking about them as they were part of the experience & the loyalty clubs, they attended the one-day workshop along with Try Before You Buy programs.
A retail brand from the Middle East, Phygital - Physical + Digital aspect, the experience was unified that customer acquisition on e-commerce platform through anchor cohorts of products.
All these and some more examples with the takeaways:
- Brand Loyalty is different from repeated buying - Check why they are buying; is it just cheaper or they are loyal to the brand - Brand Loyalty is earned and it drives long-term revenues for the companies.
- Build Brand Loyalty, one single communication across all the platforms, that ties back to goal original memberships, communication videos & formats, core things that people remember when they are not seeing ads of these brands.
- Word of Mouth is a free advertisement tool, why not build a community of fans purposefully, everybody contributing to the growth flight.
Our listeners who want to connect with Abhishek & Amura Tech, check out the website: https://www.amuratech.com/
Abhishek's LinkedIn: http://linkedin.com/in/abhishek-sagar-96660826
So, let us know what you think leadership is all about and how easy or difficult is it to be a Leader in the business world. Reach out to us if you want to discuss, just share a thought or even a cup of coffee.
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