Building Block # 1 - Establish Loyalty
No matter what market niche you occupy, your company faces saturated competition and the threat of parity products. What’s going to help you gain a competitive advantage and avoid endless price wars? The establishment of customer loyalty will insure stability and growth of market share. It takes time to cultivate legitimate loyalty; it cannot be derived from a single advertising campaign on TV. Rather, it takes an integrated approach to create customer allegiance.One important aspect of the marketing mix that is not given due credit is promotion (the others are product, price and place). Your company can gift interactive promotional products, like logoed stress balls, imprinted pens or branded USB products as gifts with purchase or direct-mail incentives. With these types of hands-on products, you implant consumer touch-points that are activated upon their everyday use. They give your company name increased visibility in the consumer’s surroundings, contributing to increased recall and recognition. And all good marketers know that brand familiarity leads to brand loyalty. It is consumer nature to be attracted to the name we know and trust most.
