A blog by Wharton professors claimed brand loyalty is dead. Ubereats has blamed lack of brand loyalty for its poor results.
Is brand loyalty really dead? If not, what else could be going on?
I claim it’s really about who your target audience is.
Some consumers crave change and novelty. Others don’t. If your consumers are novelty seekers, your brand’s loyalty will be low, so it must continually reinvent itself to keep your customers. But that’s difficult, because your customers are always seeking the latest thing.
On the other hand, if your consumers crave consistency (the definition of what a brand should provide), they will be loyal.
So who is your target? Are they the fickle novelty seekers or the loyalists?
For more about brand loyalty, see my book Marketing Landmines: The Next Generation of Emotional Branding, available on Amazon. Or email me to schedule a presentation.