How do I measure Brand Loyalty? In the past few days I have had one co-worker ask me this question, listened to a webinar from Kobie (a loyalty marketing company) that related to this topic and now this morning I ran across this.
Here is some quick Brand Loyalty 101:
Before we even attempt to do this, let it be known that every marketing department will define loyalty differently. The key here is to actually define brand loyalty by setting goals and objectives, and then building a strategy and plan that achieves them. That said, it is my contention that Brand Loyalty can be measured at any point in the engagement continuum past Acquisition.
First let’s define the customer engagement continuum: A typical journey from Acquisition into some defined, measured and monitored state of Growth that becomes qualified, quantified and then defined as Retention which then leads to clear and measured brand Advocacy behaviors.
Starting with the given that any and all consumer touch points will be Omnichannel and taking the engagement continuum into account, we should measure all these behaviors to prove loyalty:
+ On-going Purchase Behaviors
+ Engagement Behaviors
+ Defined Retention Behaviors
+ Social Behaviors
+ Charitable or Social Conscious Behaviors
The given metrics and KPIs range from simple RFM to Net Promoter (NPS) to Referrals to LTV metrics, each defined by individual marketing departments. Set as many of these as you like and abut them against the goals and objectives that you’ve defined as Brand Loyalty and voila: you have measurement.
Regardless, the key here is that Brand Loyalty can indeed be measured… once it is defined. It’s as simple as pulling pertinent analytics from each of the hurdles of the engagement continuum then aligning them to your Brand Loyalty goals and objectives.
- Brand loyalty and compulsive buying (shopwiseshopaholic.wordpress.com)
- Brand Loyalty (analysingbrandloyalty.wordpress.com)
- Instagram – An Easy Tool for Building Brand Loyalty (dainmcquarrie.com)