Marketers know the importance of maintaining brand loyalty and trust, but it’s becoming harder to keep their audiences engaged and loyal. With the prevalence of fake news, growing distrust in governments, and the rise of alternative facts, it’s no surprise that customers are looking for a simpler way to identify who they can trust.
Data, analytics, and PR are the tools needed to build trust, but most brands have become distracted from their core competencies. Their marketing campaigns and communications, focusing more on broadening reach than gaining loyalty, leave consumers feeling angry and hopeless.
Improving brand loyalty and trust
Eduardo Sonoda: Executives should take a more forward-thinking approach in dealing with social issues. By collaborating with different industries, celebrities, nonprofits, etc., brands can benefit from changing public opinion. This is exactly what several brands did this year by taking stances on tough social issues like gun control, immigration, and DACA. Companies like Walmart, Coca Cola, Patagonia, and Under Armour saw increased sales because they displayed an investment in people’s opinions. As the most crucial marketing tool, though, the power to instill fear is quickly becoming a thing of the past, and the power of persuasion is growing by the day.
Why did the pandemic affect marketers?
Before the pandemic, many consumers believed the corporate executives’ words, including those from brand representatives and celebrities. Companies had big advertising budgets, and executives didn’t want to lose this revenue.
You might argue that this meant the experts were right about the true value of marketing. However, before, the reputation of a brand can actually be measured by the strength of their brand reputation. Eduardo Sonoda: Consumers don’t simply trust a company when it has a big advertising budget. They will trust a brand when its brand voice is consistent with its values and is authentic.
Consumer-Brand Relationships
While marketing and branding have long been viewed as separate areas, these are no longer mutually exclusive. Your marketing strategy should help create a good brand experience. They also hold more of a relationship with your brand. Eduardo Sonoda: As these consumer-brand relationships develop, a trusted brand increases consumer loyalty, and the more loyal a brand becomes, the more effective its marketing strategy becomes.