Brand Awareness Isn't Everything: Why Brand Loyalty Is Decreasing

For years, brand awareness has been touted as the primary focal point of marketing. It's been said that building a brand is crucial to success and that customers patronize stores due primarily to brand loyalty. While brand loyalty is still important, its role in the business world is actually decreasing, and fewer customers are patronizing establishments based solely on the brand name.

Small Businesses Are Bigger than Ever

Small businesses play a bigger role than ever in today's economy. Millennials are composing a large chunk of the purchase power today, and Millennials greatly prefer small businesses to bigger brands. Millennials seek out small businesses for a couple of reasons. Firstly, they prefer the customized service they receive, they view smaller companies as being more ethical, and they prefer to spend their money where it counts by stimulating local economies. As the trend toward small businesses increases, the role of big brands becomes even less critical.

How to Keep Your Business Relevant

So, if brand names aren't resonating with Millennials, what specific traits are being sought after in today's economy? Millennials list a number of priorities when patronizing an establishment. According to an Adroit Digital survey, Millennials are most attracted to companies that are flexible, perceptive, and are willing to alter their business practices to conform to consumer desires. They also seek out companies that leverage social media and maintain open dialogues through social channels.

About 25 percent of respondents said they preferred establishments that contribute to charity, while 38 percent want companies to be less focused on branding and more focused on customer service. Overall, the theme of customer-centricity was prevalent. Millennials care less about established brand names and more about the relationship they can form with a business. They want their needs to be taken into consideration and they want to be viewed as more than just a dollar sign by businesses.

Marketing automation Brands don't win over customers. Excellent customer service does.

Focusing Your Energies on Customer Relations

As you seek to cater to the Millennial generation, you'll want to be focusing less of your energy on branding and more of that energy on customer relations. Great customer service starts with the right marketing strategy. You need to create a warm and welcoming marketing strategy that will draw Millennials in, rather than turning them away with cheesy, brand-centric ad pitches. By using a database management software, you can manage customer data effectively and gain crucial insights into customer behavior. This information can guide your marketing strategy and allow you to create advertisements that accommodate the goals and needs of each individual customer.

Use Database Management Software and Reconnect with Your Customers

With database management software, your business can more effectively build on your customer relations. It will help you to manage existing customer relations by automating customer outreach and follow-ups. It will also help to draw new customers in by creating targeted ad campaigns that appeal to shoppers on an individual level. With database management software, you'll make better use of your customer data, enabling you to build better customer relationships from the start.

ReachForce SmartForms helps marketers increase revenue contribution by solving some of their toughest data collection and management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like landing pages better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce SmartForms can help you improve your lead generation efforts at your own pace.

To learn more about how ReachForce SmartForms can help you optimize lead generation and improve your impact on revenue, sign up for a free trial and get a demo today.

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