The Key to Brand Loyalty

How can brands build brand loyalty and retain customers in today’s ever changing marketplace? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights in The Business Times – Singapore.

Many brand owners use loyalty programmes as a method to retain their customers and keep them from switching to other brands. However, the huge range of loyalty programmes in today’s marketplace can confuse customers.

Leon highlighted that developing compelling and non-substitutable new products, and then defending that space against “copycats” through vigilant monitoring of the competitive landscape, is the best key to customer loyalty.

Brand owners could also make use of behavioural data from existing customers to optimise pricing and promotions.

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