Additional research in Harvard Business Review a few months ago takes us deeper. This report addressed some marketing myths:
“Customers want to have relationships with our brand.” They found “no” in the research, that is not true. 77% of customers do not want to have a relationship with our brand. In fact, 87% of customers shop around, there’s almost no brand loyalty today.
Now, here’s where it’s where it gets interesting. Of the factors that these researchers looked at, in terms of brand loyalty, there was only one factor, just one, that could be associated with brand loyalty. That is “shared meaning.”
Now what does that mean? Shared meaning would say that your values as a brand align with the values of your consumers. That is the only thing that drives loyalty today.Read more...