Value for money has been named the most important brand characteristic for building customer loyalty, chosen by 77% of respondents in a new study by leading app comparison website for small businesses, GetApp, followed by quality of products and services (64%).
Other incentives to drive customers to buy from a new brand are reviews, cited by more than half (54%) of respondents, which can help influence a purchasing decision.
The study indicates that loyal customers can themselves become advocates for a brand. The majority (79%) of survey respondents said they would recommend a brand to their family and friends to express their loyalty, promote a brand’s reputation, and help acquire new customers. Another popular way of showing loyalty to a brand is by joining a loyalty program, selected by over half of the respondents (57%).
72% of respondents said they would engage with their favourite brands by downloading their mobile app if they had one. Among those who would do so, over three quarters (76%) of respondents would like a brand’s app to have a loyalty program feature.
When sharing personal data and information with brands, most respondents (78%) would be most willing to share their email address (78%), sex/gender identity information (74%), as well as birthday and age information (72%).
More than two-thirds (67%) of survey respondents rarely stop buying from a brand if they are satisfied with the product or service. Of those customers who stopped buying from a brand during 2022, just over half (51%) said they stopped doing so because of a price increase. However, 28% did so because of a reduction in quality.
“Building a reputable brand can go a long way to secure customer loyalty for a business. Most Australian participants in our study say they express their loyalty by recommending a brand to their family and friends. The benefits of customer loyalty genuinely create brand ambassadors, who promote a brand’s reputation and acquire new customers,” GetApp Australia content analyst, Andrew Blair said.