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Storyteller To Story: The Twilight of Online Brand Loyalty
Especially in tough economic times, the ancient business adage always applies: it is always cheaper, easier and better to keep and develop your current customers than it is to win over new ones. Loyalty, from the power of Caesar in ancient Rome to the psychological pull that drives the sales of major cola brands, is at the heart of how people act and why people stay.
For much of advertising's modern history, brand loyalty has been the holy grail. How much extra will the customer pay for a brand they know and trust? What inspires that trust, and what destroys it? These are the questions that marketers have struggled to answer for most of the last century.
Then came the Internet. The creation of a truly global and instantaneous communication medium has forced marketers to answer a new and tougher question. In a world where every brand benefit and drawback is only a few keyclicks away, and every rumor or opinion speeds around the world with a life of its own, how much control can a business really have over its brand? And if the power of brand loyalty has begun to crumble, what will replace it - and how can marketers stay ahead of the curve?
Opinions vary, of course. In the last two years, however, we at Lounge Lizard Worldwide have watched this struggle of ideas begin to bear tasty fruit. In today's ever more complex world of socially driven online narrative, today's best business minds are conjuring up new models of customer loyalty.
The Power of Like. As online services like Facebook have discovered, "like" can indeed be more powerful than love. With a single simple gesture, an online consumer can share a brand instantly with all of their friends - and their collective nod can serve as a immensely powerful platform for influencing how your brand is perceived worldwide.
On The Spot. A world of instant information is a world of right now: the chance encounter, the turning corner, the ascension of on-the-spot values. Using geolocation technology and mobile-driven social media platforms, today's most innovative marketing programs don't wait. They reach consumers where they live, and deliver services that enable them to make the most of the instant. By becoming the destination of choice when opportunity knocks, "on the spot" marketing wins loyalty in a flash.
Stream Loyalty. In a world flooded with information, the medium overtakes the message. Rumor and fact live in the same house, sleep in the same bed. Not all sources of information are useful, accurate or wanted - and for consumers starving for a way to tell the good from the bad, reliable streams of information win special loyalty bases of their own.
How informative is your business website? Can your customers rely on you for accurate, timely information that they can use? Does your social media presence give consumers a reason to keep coming back, and to value your brand as the only place to go for the straight story? Your consumers are searching for a constant flow of news, ideas, and distractions that they can enjoy and rely on - and will lavish their loyalty if you can provide it.
As traditional brand loyalty continues to fade in relevance online, building evidence leads us to an exciting conclusion: that consumer focus is shifting from authority-based value to a model based on reliable and immediate access. Our loyalty has shifted from the storyteller to the story. And to our ability to share the story with others.
For businesses eager to grow and expand their markets, this new paradigm of endless change offers tremendous opportunity. With imagination, willingness to be bold and a keen insight into what drives today's quickly evolving marketplace, your business too can transcend brand loyalty - upsetting markets, changing the rules, and turning the world on a dime.
Lounge Lizard Worldwide builds strategies that get results.
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Lounge Lizard's New Space
New York City Office
New York, NY 10013
New Space, New Faces
Lots of new and exciting things happening at Lounge Lizard, we opened an office in Tribeca last month. I am also excited to announce a new addition to our leadership team at Lounge Lizard Worldwide. Chris Fiore joins us as Director of Strategy. Chris will lead our strategy practice and will focus on partnering with our clients to understand, mold, and enhance their digital marketing strategy. This enhancement to our strategic focus will allow us to better position our clients' brands in the increasingly complex digital marketplace, e.g., social media, mobility, etc.
Chris comes to us with over 20 years of experience in strategic marketing - with the last 15 years strictly online. With experience in a broad range of industries, he has run successful digital marketing, design, and development agencies with clients worldwide.
Please feel free to reach out to Chris with any questions about how he and the team at Lounge Lizard can help you and your business.
(631) 581-1000 ext 103
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Be The Best By Offering The Best
The global economy is a mighty, awe-inspiring engine, resilient and powerful. In any economic climate, it offers tremendous opportunities for the innovative, daring and wise. Your customers want to lavish loyalty on your business, and need only to know that it is well invested - that your place in the global economy is marked by service quality, attention, and sharp insight into what truly drives your market.
We at Lounge Lizard Worldwide want to help your business find your own opportunities in the mighty engine of global business. Combining creativity, talent, technical know-how and industry insights, we build the next-generation strategies that you need to succeed powerfully in any marketplace.
Would you like more information about anything you've read in this newsletter? We would love to hear from you - give our offices a call at 1-888-444-0110 today.