In this episode…
It costs 5x more to acquire a new customer than it does to retain an existing one. Yet the concept of “Loyalty” has become overly commercialized, and it is costing companies their customers. According to reports, the average rate of customer retention is below 20% in nearly every industry.
As companies place their efforts on outmaneuvering each other through deals and promotions, they fail to emotionally connect with consumers. In this episode, we’ll redefine the term brand loyalty to explore how brands can achieve it at scale, in a growing sea of sameness.
Be loyal to your customers, and they’ll be loyal to you.
- Explore the difference between customer and brand loyalty
- Embody authenticity and prioritize the customer experience
- Constantly measure brand sentiment to evaluate brand loyalty
- Strictly create loyalty programs that genuinely add value
- Overcome budget restrictions to invest in consumer research
- Transform your brand around shifting market preferences
- Create emotional connections to inspire lasting loyalty
Nancie Mcdonnell Ruder has more than 25 years of marketing experience. She began her career at the Leo Burnett Company and in 2002, went on to establish her own company, Noetic Consultants.
The word “noetic” is related to one’s intellect and thinking. Nancie chose this name for the company because it reflects her team’s commitment to helping clients strategically think through their challenges so that, together, they can take the actions necessary to get to the best possible outcomes
Noetic’s clients have included Samsung, PepsiCo, Nike, Marriott, Mayo Clinic and Discovery, Inc. Nancie also serves as an adjunct professor at Georgetown University, and is the creator of the Noetic Art & Science Assessment™
Resources Mentioned in this episode
This episode is produced by…
This episode is produced by Advantages, an award-winning branding and marketing agency that turns buyers into believers. They have worked with companies as far reaching as the new terminal one at JFK airport, as well-known as Jay Z, and as fun as NFL football teams, along with some of the world’s most impactful nonprofits and aspirational mid-sized businesses.
Advantages uncovers the meaning within brands and infuses it into experiences—purposeful branding, engaging events, and strategic marketing.
Explore how this agency can help infuse purpose into your brand so that you connect with the audiences that matter most to you.