Increasing your customer numbers might seem like the ideal goal but how many customers do you have that really love your brand? We mean really love it. We look beyond the numbers and explore the multiple benefits of quality over quantity, and how to make your customers love you.
Let’s start with profitability.
Profitability often comes from repeat purchases and higher margins. Passionate customers are not only willing to pay a premium for something they truly love, but they will also keep coming back to you. In contrast, those who are lukewarm are more likely to be swayed by competitors’ offers and promotions, so it’s a constant battle to acquire new customers just to maintain the same revenue levels.
During the cost of living crisis we have seen many consumers swapping their brands for own label, yet it doesn’t apply to all purchase decisions. And it is those brands where there is a deeper emotional connection that benefit. Their consumers remain loyal and committed, providing stability – and avoiding endless promotions and a race to the bottom.
Brand advocates of course also do a lot of your marketing for you – word of mouth is strong. These consumers love to extol the virtues of your brand whether you’re a bank, a loo roll or jar of beans. Not only will they respond to your marketing efforts but they’ll also be recommending, sharing on social media and essentially acting as a referral service for your brand.
So, it seems that customers who love your brand really do drive profitability, which surely is a better metric. However, if we look at some brands that have strong advocates it becomes evident that not everyone is a fan. And this is the point really.
There are big brands like Guinness, Marmite (who play brilliantly on the love hate relationship) and McDonalds. There is recognition that they’re not for everyone, and that’s ok. In fact, they’d probably lose some of their appeal if everyone liked them.
If we look at smaller, challenger brands, they often create differentiation and stand out (they are challengers after all) and in doing so get themselves noticed – strong brand advocates follow.
When banks such as Monzo and Starling launched nearly 10 years ago there was excitement and buzz around the brands. Yet many dismissed them and the very idea that anyone would choose a bank with no bricks and mortar branch (despite first direct being top of customer service charts for many years before!). Yet, their early customers were keen to talk about the brand, their experience and show off their bright coral or aqua card. Prior to that most people didn’t discuss who they banked with, certainly didn’t recommend them and why on earth would you show someone your bank card?! But here were groups of people staring in awe at these brightly coloured pieces of plastic and what they represented; excited and wanting to know more. And their customers had plenty to say.
If we weren’t used to talking about our choice of bank then we certainly weren’t used to talking about our choice of toilet roll. That was until ‘Who Gives a Crap’ came along. It’s recycled toilet paper that also donates 50% of profits to help build toilets and improve sanitation in the developing world. It’s toilet paper with real purpose, as well as fun. The brightly coloured, yet recyclable wrappers, ensure they get noticed in bathrooms everywhere – which in turn creates awareness and a talking point.
Within food and drink, we see the Bold Bean co. elevating the humble bean, a product that was previously pretty dull and boring, to something exciting, tasty and premium. They even state that they want people to be obsessed with them! Obsessed! Recipes are being shared and they’re being picked up and championed by chefs and Influencers alike.
Regardless of sector, creating differentiation, and trying to please a more niche audience can have real benefits. You do not have to try and please everyone, and there’s almost a sense of pride in the fact that you’re not for everyone. By being focused and performing really well in one area you become distinct and memorable. And you create a band of powerful, passionate brand advocates.
Challenge Assumptions. Talk to Hummingbird Insights