Entrepreneurial brand equity is paramount for sustainable growth across all sectors of our global economy.
All cogs (including image, perceived quality, awareness and association) that lead to this achievement must be refined so as to be above the rest in this global competitive business environment where customers are now having a perfect knowledge of the market and products/services for them to decide which brand to buy or not.
Remembering that loyalty is not by serendipity, an entrepreneur should work and build it in the eyes, heart and mind of the customer.
If we have previously missed this setting for longevity let’s do now through revisiting entrepreneurial branding for loyalty.
The relationship between a consumer’s commitment to a particular brand and their preference for that brand above others in the same product category is called brand loyalty.
It reveals a consumer’s regular purchase behaviours and positive opinions of the brand, which gauge the consumer’s loyalty to the company.
Several factors contribute to brand loyalty, such as the quality of the product, the level of satisfaction experienced by customers, the perception of the brand, and emotional bonds.
Customers are more likely to remain loyal to the same brand over time when they develop a sense of loyalty, mainly when alternatives compete with the brand.
- Business opinion: Brand export
- Local authorities struggling
- Schweppes plans to expand solar facilities countrywide
- Chaplin Moyo spearheads corporate pastoral services
Keep Reading
It is common for this devotion to result in long-term ties between the brand and its customers, promoting the company’s long-term financial success.
To simplify the concept, think of two global brands Coca, Coca-Cola & Pepsi-Cola; if one is to be realistic and logically analyse the brands, they taste the same.
In reality, if you are blindfolded and test the two from unmarked (unbranded) containers, our taste buds as human beings will need to be more complex to separate the two.
Purchase and repeat purchases are influenced by the levels of brand loyalty from one brand to another.
Further, loyalty is a substantial edge in gaining competitive advantage as it is challenging to replicate at competitor levels, as it speaks to a relationship rather than product or service features — competition cannot replicate loyalty or imitate it in any way since relationships are built on a foundation of trust.
In this week’s instalment, we, therefore, look at the foundational issues critical for brand loyalty management and how African entrepreneurs, small to medium entrepreneurs (SMEs), can manage and harness the processes of brand loyalty.
We, therefore, zoom in on the 10 key elements of how to manage brand loyalty for African entrepreneurs to reap the rewards of the same as noted below:
Superior products and services: consistently deliver top-notch products or services. Meeting or surpassing customer expectations encourages repeat business and trust.
This gives a customer a reason to believe and stand out in the crowds when using the brand.
It’s like supporting a sports team; the more the team delivers, the more the supporters come out to show off the product based on its strength.
Continual branding: Ensure that your packaging, message, colours, and logos are recognisable and consistent throughout the brand’s touchpoints. Consistency may help build a strong and cohesive brand identity.
Excellent customer service: Provide exceptional customer service to ensure a positive experience and promptly resolve issues.
A satisfied customer is more likely to remain loyal. The satisfied and loyal customer is the best salesperson of the brand through word of mouth, both online and offline.
Emotional bond: Use narrative, brand values, and experiences to establish emotional bonds with the brand audience.
Clients who are emotionally committed are more likely to develop enduring loyalty. As noted in the introductory stages of the article, at one point in the customer’s journey, logic is overcome by emotional decisions, which is the state of loyalty itself.
When trust is established, even when mistakes happen, there is room to engage and remain in the same relationship.
Every one of us has a story of disappointment by his/her brand of choice, yet loyalty did not trigger a ‘divorce’. Yet there are limits!
Loyalty programmes: Establish loyalty programs that provide customers with savings on repeat purchases.
Examples include discounts, first access, or points that can be applied to future purchases.
This requires an integration with technology, which allows for ease of access to platforms and accrual of points that are meaningful to the clients.
This is big in the airline business. When you reach certain points, you are upgraded or Hotels and leisure resorts.
Customisation: Make use of data to give clients a more unique experience. Tailor offers recommendations, and advertising to each person’s preferences and habits.
However, there is a need to be cautious and draw the line between using data for customisation and intrusion into the clients’ privacy, which can lead to catastrophic ends if the brand is not careful.
Creating communities: Create a feeling of community around your business. Engage with your customers on social media, in fora, or at events to foster a sense of community and shared identity. As Africans, we are strong in communities. As the going says, “It takes a community to raise a child”.
This is different from the Western value systems that promote individualism.
This strategic focal area builds heavily on the contextual realities of Africa and tallies with the values of ubuntu — you are because I am!”
Creativity: Stay innovative and adapt to your client’s changing needs. Brands continuously developing and offering new, practical products or services will likely keep consumers.
In our engagements with business through our consultancy services, we always ask our clients, “Do you have something new for your clients? Give them something to show off with!”
Openness: Be forthright and truthful about your business's values, practices, and shortcomings.
Sincere communication builds trust, and trust is a prerequisite for brand loyalty.
The brand's value system is what you are selling to your stakeholders; it’s the soul of the brand, and if you consistently communicate it, you build strong bonds that are difficult to break.
Social accountability: Demonstrate your dedication to social and environmental responsibility.
Customers are increasingly appreciating businesses that have a positive social impact. This builds a brand rooted in purpose, propelling it forward sustainably.
Next week, we take this concept further and tackle it from the perspective of changing technology and how it will be related to in the future under the topic: The Band Loyalty and Artificial Intelligence!
Till then, think, eat, sleep and dream branding!
*Dr Farai Chigora is a businessman and academic. He is a Senior Lecturer at the Africa University’s College of Management and Business Sciences. Chigora is also a global business modelling practitioner. His doctoral research focused on Business Administration (Destination Marketing and Branding Major, Ukzn, SA). He is into agribusiness and consults for many companies in Zimbabwe and Africa. He writes in his personal capacity and can be contacted for feedback and business at fariechigora@gmail.com, www.fachip.co.zw, WhatsApp mobile: +263772886871.
*Dr Tabani Moyo is an extra-ordinary researcher with the University of North West, South Africa’s Social Transformation School. His holds Doctorate in Business Administration (Research focus on new media and corporate reputation management, UKZN), chartered marketer, fellow CIM, communications and reputation management expert based in Harare. He can be contacted at moyojz@gmail.com @TabaniMoyo (X)
