Brand Affinity is a metric helping you understand how your customers perceive you. It assists in predicting customer behaviour as well as segregating the market basis customer preference. Brand aficionados display a general liking for your brand and are frequently found engaging with your business.
Let’s have a look at Brand Affinity!
Brand affinity is defined by preferences that consumers have towards brands based on their characteristics. They basically identify with your brand personality, determined by human traits. This makes them slightly, if not completely, partial to your brand and are retained them as valuable customers.
Brand Affinity is a more personalised feeling of a consumer connecting on an emotional level. They prefer products or services because they match their lifestyle and/or ideologies.
Here’s what Brand Affinity can do for your business!
You must be wondering how brand affinity can help your business succeed! For starters, it is one of the best ways to retain customers. Studies prove loyal customers to be 10x as valuable as their first purchase. You can even think in terms of your customer churn rate. Churn rate is the percentage of people who discontinue their subscriptions in a given time. Reducing the churn rate by 5% can actually increase your profits up to 125%, claimed a study as far back as 2009.
Brand Affinity works wonders when consumers positively identify with your brand. This helps drive their purchase decision, consequently boosting your sales. Brand affinity also helps spread the word about your business. Your brand aficionados would definitely want to talk about their preferences and, suggest your products and services when asked for recommendations – further expanding your customer base.
Now that you know how much success Brand Affinity can bring for your business, let us look at how to create a campaign that boosts affinity among your audience.
Now, let us see how to boost Brand Affinity for your business!
Remember to centre your marketing strategy to boost brand affinity on your consumers while designing it. It is essential for your consumers to identify with your brand message; they should be able to sync into their personalities. Here are the top three aspects to include in your campaign to boost brand affinity.
- Recognise Your Audience: The first step for any marketing campaign is to determine your audience. Identify your audience in terms of the campaign messaging. Your consumers should be those who can resonate with this vision. Approach audience research in terms of preferences, topics of discussion, current market trends and their success, and of course their basic demography. This will help you define a targeted message and drive purchase decisions.
- Go Social: Digital campaigns today are garnering more attention than your offline ones. You can imagine the tremendous potential of 136 million active social media users in the country. Look for channels frequented most by your targeted audience and the popular content genres on them. Devise your campaign content accordingly to meet consumer expectations and target them at the apt time. Continuously engaging with consumers and building a relationship over social media can prove to be highly beneficial, considering it is of the most popular mediums of communication. Additionally, you can monitor your campaigns and track the deliverables. This will help to correct any intermittent mistakes and rather explore the full potential of your strategy.
- Develop easy Purchasing Systems: Pay attention to customers’ shopping experiences if your campaign revolves around certain products and services. Create hassle-free and rapid payment structures, such as low-bandwidth web pages and secure payment getaways. This will ensure that the buying experience does not leave a bitter taste in their mouths, no matter how well your products or services are. Everyone looks for a seamless experience and it immediately builds a preference for your company.
Building and enhancing your Brand Affinity is a sure-shot way to steadily increase your profits. Start building relationships with your consumers personally as you work towards your goals this year. You will be able to increase your company’s valuation in terms of recurring purchase as well as new customers and profits.