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BrandingNerds Of Business (episode transcriptions)

Ep.7 [transcription] Brand loyalty: how to turn ‘customers’ into raving ‘fans’ who grow the business for you

By August 26, 2020November 20th, 2020No Comments

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Darren Moffatt (00:11):

And welcome to the Nerds of Business podcast. My name is Darren Moffatt. I’m a director at Webbuzz, the growth marketing agency. And I’m your host. We do love a party here at Nerds of Business, and yes, we’re celebrating once again, regular listeners will recall that back in episode four, Apple podcasts added us to their new and noteworthy section that expanded the reach of our show to over 55 countries around the world. Well, now we’ve hit a really auspicious milestone. Nerds of Business has cracked 10,000 downloads in just three months for a wholly independent show, not aligned to any mainstream media organization. This is pretty amazing. And it’s all because of you, our listeners, as a way to say, thanks for your support. We’re running our first promotional competition. We’ve got 10, very cool limited edition Nerds of Business t-shirts to give away. If you’d like to win one, go to webbuzz.com.au/nerds.

Darren Moffatt (01:14):

That’s webuzz.com.au/nerds. And you’ll find our social media links there. Click through to any of our social accounts. Find the post with your favorite episode and share that out to your network. With a few words on how that episode helped you crack the code to growth in your own venture. Don’t forget to tag us so we can see your share. And if you’re one of the first 10, I’ll then message you directly to organize delivery of your prize. And when you go to our socials, you’re in for a bit of a treat. We’ve posted photos of some of our nerds from season one, modeling the t-shirt design that you could win. So if you want to put a face to the voices of the guests, you’ve been hearing so far, check out the socials at webbuzz.com.au/nerds. We start today’s episode with a quick game of word association. What brand do you think of when you hear these three words, freedom, motorcycle, rebel. Here’s another clue if you’re all a certain age and you’ve already experienced the joys of midlife crisis, you might’ve brought one of their products. Yes. I’m talking about the legendary Harley Davidson motorcycle company. They’re renowned for having some of the most loyal customers in the world. But in our opening story, we take a data into the back roads of their history that might surprise you.

Darren Moffatt (02:53):

The year is 2009. The famous motorcycle business Harley Davidson sense trouble ahead.Founded in Milwaukee, Wisconsin in 1903, it’s survived two world Wars and a depression to become an iconic brand synonymous with American rebel culture. But the leadership team sends danger ahead. Their domestic customer base is aging and product sales are beginning to slow without the stimulus of new markets to keep driving sales growth, the mighty brand could become vulnerable, even eventually die. The leadership team look to the East and specifically to the rising economic powerhouse of India.

Darren Moffatt (03:41):

Recent economic growth has seen the new middle classes swell. The sub continent offers a tantalizing opportunity for Harley Davidson to expand its horizons will the intent brand loyalty is steeped in Western culture. That has been such a driver of profits for Harley Davidson transfer to the East. The key lies in the Harley’s Owner’s Group or ‘HOG’, as it’s known for short with 1 million members worldwide, it’s the biggest motorcycle club in the world. And it just so happens they already have thousands of members in India, even though the business has no presence on the ground. So in 2009, when Harley Davidson go to establish local dealerships, the community of brand loyalists who make up the Indian HOG membership begin to spread the word. By 2020 Harley Davidson has established 33 local dealerships across India. And the sub-continent is a key source of growth. And it was all possible because of the intense brand loyalty of the original Indian Harley motorcycle riders.

Darren Moffatt (05:02):

Harley Davidson is actually a rich case study in all aspects of brand marketing. The fact that you were probably able to identify them through word association, goes to their powerful brand positioning for instance, and when it comes to brand loyalty at Harley Davidson, although there are dozens of angles we could talk about, I think the most fascinating of all is it sense of tribalism? In fact, the Harley Davidson community has been described by some branding experts as a benign cult. This is defined as any group of people who are intensely devoted to a person place or thing, but where the relationship between the follower and the cult is harmless or even positive, benign cults are never destructive. They don’t harm their followers physically or mentally they’re inclusive. They welcome anyone who wants to belong, and there’s no price of admission other than simply being enthusiastic about the Apple devotees are another classic example of a benign cult.

Darren Moffatt (06:02):

Is there any other way to explain the adoring crowds that line up for hours just to be the first in their peer group to purchase the latest smartphone? For instance, the important thing about benign cults is that they help feel the emotional needs of their followers in a positive way. They derive a clear, easily identifiable benefit from membership to the benign cult, but it’s the payoff to the brand itself. That’s big business. It generates an intense brand loyalty that keeps margins high and sales flowing. Now you might not aspire to be a cult leader or even the next Steve jobs, but regardless of the size of your business or the industry in which you operate some degree of brand loyalty is crucial if you want to succeed. So how can you grow brand loyalty to such an extent that customers buy from you again and again, and even become advocates for your business, to their friends and family.

Darren Moffatt (07:25):

This is nerds of business. So the problem we’re trying to solve, and the title of today’s episode is brand loyalty. How to turn customers into raving fans who grow the business for you. We’ve lined up some great guests for today’s shows, including an international food brand, a small business owner and a tech platform that has achieved a $1 billion valuation. We’ll hear from our panel of nerds in a minute. But first here’s a quick reminder that if you’re enjoying nerds of business, to please hit the subscribe button on your podcast player, it means you’ll automatically receive each new episode every fortnight, and it makes it easier for us to stay in touch when it comes to the definition of brand loyalty. It’s a pretty well understood concept that needs a little further explanation here. However, from a technical perspective, there are actually a series of steps that need to take place in the mind of the customer before they can become loyal to any brand. Rachel Bevans is from the healthy brand company. She’s one of our two branding experts for this series. She’s worked for some of the biggest brands in the world and consults to small and medium sized businesses too. I asked her how big businesses use psychology to establish brand loyalty and how it works from a technical perspective. Brand loyalty is incredibly valuable, but I think you’ve got to think about what you mean as a business by brand loyalty. And I think that’s the first

Rachel Bevans (08:56):

Thing to think about and that there are lots of levels to go through before you get to supposedly to, to brand loyalty. So you’ve actually got to get people to try the brand you’ve, they’ve got to like it. So if you’ve promised this great brand to them and it doesn’t live up to their expectations, then you’re not going to get them. They’re not on the path to loyalty. Exactly. So right at the very beginning, you need to make sure whatever you’re promising that you deliver against. Okay. So that’s sort of almost like step one. Um, and then the other thing there is to make sure you, they don’t have buyer’s remorse, um, where you go. I wish I hadn’t spent that money on that. Um, and another thing you might not another thing to stop that is, um, if you’ve bought the purchase and it might’ve been just sort of an impulse purchase , I wish I hadn’t bought that.

Rachel Bevans (09:50):

That’s fine, but you can actually, there’s actually things that you can put in place to prevent that as well. So congratulations for purchasing this product or, you know, when you make sure you put your warranty in, and there’s a nice message that comes back saying congratulations also that positive reinforcement. Yeah, exactly. So let make sure the experience delivers against the purpose and then be tell people how wonderful they are for choosing that. And that might even be, they might see another TV ad or something, which actually says that, or it might be an email that says, thanks for coming on board. You know, we’re going to treat you really well and all this sort of stuff. So, um, there’s a number, I think that all those sorts of elements come in and that’s the start. That’s really the start of the conversation.

Darren Moffatt (10:31):

Customer delight, I think is part of this, right. Um, and, uh, he’s a little circular what the device that we’re recording this podcast on is the fantastic Rodecaster. And, um, I purchased this just before Christmas and, and then they sent me in the mail. I special little accessory pack for free. And of course I was delighted, you know, it was, it was brilliant. Um, so, uh, these guys are doing a great job at building that brand loyalty through customer delight, that positive reinforcement that you’re talking about. And of course now I’m vocalizing this, you know, on a podcast. Um, and, and I guess that leads me to the next question, how important is brand loyalty to stimulate brand advocacy?

Rachel Bevans (11:19):

They are connected, but they’re not. Um, the only, I guess they’re not, um, cause it it’s not cause and effect per se. So if you’ve, if you’ve got your steps towards brand loyalty, so that sort of, we’ve already talked about surprise and delighting your customer when they first come on board and then continuing to do that over time. And that really is what’s building the brand loyalty, getting them to purchase and repurchase and purchase more and trade up and so forth and get all those phases towards brand loyalty. Um, at any point in that time they can start talking about you and it might even be before purchased you. Yeah. So that’s brand brand advocacy is someone who absolutely loves the brand and is shouting about it. Yeah. And so, and that might be via social media. It might be someone who often talks about your brand over barbecues or in social environments or whatever it is, that’s really brand advocacy.

Rachel Bevans (12:11):

So they are going to be, you know, there is, it is going to be related. So the more loyal customers you have, if you’ve got them, if you’re continually to giving them, um, you know, fantastic experiences that they are going to talk about and reasons to talk about your brand, like sticky messages, exciting new things that they’re going to talk about, then they’re going to be brand advocates. And some of your most loyal customers might be biggest brand loyal brand advocates. But if I go back to, um, you know, examples, I would say I’m a brand loyalist for Qantas, but I, and I’m a Brand advocate, but I actually haven’t purchased a Qantas flight for over 12 months. So you might, I would often say, yeah, they’re a great brand. I would recommend them. So that’s my advocacy piece. I would always choose them first as a, as a brand, but I’m not necessarily purchasing them at the moment because I’m not traveling so much or they wouldn’t be opportunities to travel.

Rachel Bevans (13:11):

I’ve been with other people in which case it’s another, another provider. Sure, sure. So, you know, you’ve got these different aspects to take into account. Um, other, uh, the other thing with brand loyalty is, and I’ll use the corners example again, which is they’ve got a great frequent flyer database, um, of all of these supposedly very loyal customers. A lot of them aren’t talking about the brand. So then I haven’t necessarily become brand advocates. Um, and I think, and you can also have brand advocates who are not even who are not really purchased as to your brand, so, um, or consumers of your brands. So whether that’s, um, you know, moms with their kids, like they go yet, these brands are great, but they don’t actually eat it themselves. It’s actually all for the kids. Um, or they might, you know, kids in the playground, it might be something that was really cool to talk about, but it’s not necessarily something that they’re purchasing themselves.

Darren Moffatt (14:05):

Yeah. Well, my eight year old is currently talking a lot about Tik Tok, so he wants to get on Tik Tok. It’s just, yeah, it’s a brand advocate, you know, you’re a brand advocate and today after seven episodes so far is our branding nerd. It was finally Rachel’s turn on the Nerdometer. Let’s see how she went. Uh, okay. Rachel, so you’re obviously, uh, the branding nerd, the branding specialist. Um, we’re now going to introduce you to a, a, a statement here at Nerds of Business cold

Darren Moffatt (14:43):

So when it comes to branding, um, and you know, sort of being a nerd about branding, like out of 10, what score you give yourself a solid seven. Okay. That’s great. Oh, that’s pretty nerdy. Yeah. Well look, you know, certainly in the chat today, it’s been a lot of technical nerdy stuff, so that’s a, that’s very strong, fast moving consumables, such as the food brands you find in supermarkets are perhaps the all time masters of fostering brand loyalty. Their goal is to get you to purchase the same item. Every time you go grocery shopping, ideally, without even thinking about it, they know that brand loyalty drives repeat sales, which at scale provides the volume required for profitable retail products. Pic’s peanut butter is one of the most beloved food brands in the world. Pic Picot founded this business about 13 years ago, and now turns over about $30 million per year. I spoke to Pic and asked him, how does he generate brand loyalty for his product?

Pic Picot (15:55):

Well, people try it, you know, and they like it. And, you know, w we endeavor to be a company that people are going to be happy to give their money to. And I think, and people take that to heart and they talk about it. You know, we want to be something that people talk about and, you know, and, and I’ve got my name on the jar. So I, and I love, I love meeting people and I love saying, Hey, make your peanut butter, you know, and, and that’s who I am. And it gives me this incredible opportunity opportunities to meet people and that’s who I am.

Darren Moffatt (16:35):

I think, sorry. I was just going to say that, you know, something that really struck me, uh, in the research for this chat is that you’re, that you’re the humility of the company and yourself is, is, is really stands out. There’s a lot of humility, uh, coming off the company and watching the videos and how you interact and the fact that you’re so gracious and you’re thinking customers like that’s obviously real. And that’s, that is unusual. That stands out. How often do you see a founder of a company saying thank you to their customers so often. And so, and, and so with such authenticity, um, and I think the other thing that’s really popping out that might explain, or have, you know, be a contributing factor to your success is the storytelling. So people can talk about your brand because there’s lots of stuff around it to talk about. It’s not just, you know, it’s not just a jar of peanut butter, it’s a whole, whole bunch of other stories and things attached to it.

Pic Picot (17:33):

Yeah. Yeah. So it is, it is, it is fun. And you realize that, you know, you can build a story about, so, I mean, we did a big toaster tour. We went from North Capitol bluff on the big toaster, which has a big Airstream toasting at the top and towed it around with an old holden Ute. And as I was traveling, I thought, God, we’re not meeting a lot of people there. Weren’t great hordes waiting at all the supermarkets and stuff. And we turned up instead of doing peanut butter on toast, but I thought it doesn’t really matter too much because we can tell a story about it later. And there are a few people in the country yet. Yeah. I saw you. I mean, I saw your caravan going through Napier and that just that’s enough of that. You know, and, and the story, the story can be built up later. We’ve got a few photos from there and that sort of stuff. So, you know, you can build the legend around the story later on, as long as you have it there, as long as you’ve made something, he don’t need to get, you know, heaps of TV crews watching and filming it while you’re doing it or anything, you just need to have done it. And to have a little bit of something about it, and people love that,

Darren Moffatt (18:38):

Oh, they love it. And going right back to the early version of your site that I found on the way back machine

Pic Picot (18:44):

I’d love to, and I’ll get that off you at the end of this. Yeah.

Darren Moffatt (18:47):

I’ll share it with you. And, and what, uh, the thing that really jumped out at me, I just loved was that the story that you had a headline or a piece on the website about the peanut butter that killed Elvis, do you remember that there was something some crack about, you know, was obviously a bit of a long, tall story, but that was on an early version of your site. And it’s very similar to the, you know, the other content that you still have on the current version of the site. Uh, and I just thought like, that’s makes the business stand out. That’s something that people can talk about, have a laugh about, and that’s really distinguishing it from the big conglomerates. You know, they’re not doing that stuff. They’re not having fun.

Pic Picot (19:30):

Yeah, yeah, no, it is. And I, and also, you know, I mean, I used to, I get very bored when people would say, Oh, what’s your question’s a year. Is it smooth or crunchy? Whatever. I always been a crunchy guy and I’ve been, you know, I would, you know, sort of half joking and say, well, you know, the crunchy is really nice. The slows is rubbish. Don’t bother eating it. And that sort of surprise people, you know, although once we started making the slugs, you know, the snack thing, okay, 30 grams of snacks, squeeze it in your mouth. And we might, we can only make that with smooth. Then that actually converted me. So that’s got me enthusiastic about smooth Peanut Butter but it didn’t happen until we started making these slugs. But I don’t think a lot of people would, you know, the marketing, if you are a marketing guy and you were saying, this is rubbish, you know, this product’s rubbish, don’t worry about this. You know, you to get terribly, probably get sad, but they can’t sack me.

Darren Moffatt (20:24):

Yeah. Who needs a marketing guy anyway, but how does this translate to a smaller business for this? I turned back to our branding expert, Rachel Bevans.

Rachel Bevans (20:33):

So I think the one key thing I would say about brand about brand loyalty and about those kinds of frequent frequent flyer programs or whatever they are, is actually these days is building a database of customers. Yeah. So that enables you to talk directly to your customers. And that’s one of the biggest benefits or yeah. Um, it is very time consuming. Um, but I think in today’s day and age, where we’re going increasingly, um, technology really technology is integrated and it’s all about user experience online as well, to offline and having a seamless experience between the two is that you kind of need to know who the customer is to be doing that. So actually having a customer database really helps you do that. And it also helps you talk to them and keep them in the fold.

Darren Moffatt (21:16):

Yeah. And to that point, there are some interesting plays in the sort of food retailing space, like in cafes and restaurants. Now there are some apps, um, one that Springs to mind is one called hi, you, uh, where, you know, you, it used to be called beat the queue, you know, and it solved a problem, um, where cafes would have these regular people that would come in and buy coffee every morning, but they wouldn’t know anything about them. They will know to barely know their name and so on. And now think by getting people onto these apps, they’ve got their data and they’re then able to build a database. And there’s a lot of value in that. So would you say broadly that the smaller businesses, uh, in terms of, you know, to sort of grow that brand loyalty, ultimately it’s about getting data and building a database, would that be right?

Rachel Bevans (22:08):

I think that’s a big aspect too, is what was really understanding your consumer and being able to talk to them and your customer and being able to talk to them more easily. Um, uh, particularly if you’re in a very crowded market, if you’ve got a method of getting of communicating to them, that having to do massive outdoor as a smaller business, you don’t necessarily have the money for, um, big outdoor and you can’t afford to be lost in an outdoor environment. So it might be that, um, so generally by having that database, by building a database of people that you can talk to regularly, send them staff, get them involved, community, continually communicate to them what it is that you’re about what you stand for. Um, and, you know, really, I guess, have a place for the brand in their lives, whatever that might be. Um, and I think that’s really beneficial.

Darren Moffatt (23:06):

So you can see that effective database management is essential. If you want to grow brand loyalty. In my experience, consulting to businesses at web buzz, the growth marketing agency, this is where many small business owners fall down. One entrepreneur who had passed the test with flying colors is Victoria Coster. Victoria is the founder of Credit Fix Solutions. One of the leading credit repair providers in Australia. She’s been on the show before. You might recall her from episode five on how to grow brand awareness. I asked her what she’s done to build brand loyalty, particularly in the B2B part of her small business.

Victoria Coster (23:46):

I suppose it’s just keeping your messaging the same and, and really, you know, just, just make sure that everywhere within your business, that messaging is consistent. You know, if I, if I’m going to tell you that I’m not going to charge you, and then, you know, you speak to one of my BDMs and she says, well, actually it’s 400 bucks up front, but we’ll refund you. Um, you’re going to lose trust. Um, but my message has just always been the same. And that goes from the top, top down all the way down to, to, you know, um, you know, the scenarios team who are getting the leads in the business development managers, um, the staff that we have in administration who do an amazing job. Um, but also we have a mantra here is to be warm and fuzzy. So wherever we go, it’s, we’re here to help you.

Victoria Coster (24:36):

We’re here to help your business. And we never ask for sales. Um, we never have, we, we, we are offering coffees, we’re offering workshops where we’re at, um, their events, you know, where our referral partners are. And I mean, at the moment, we’ve got everyone on the phone, on the phones, just calling our brokers and just saying, Hey, you, okay. Um, how is everything, you know, um, are you all right, you know, given 2020 and what it’s panned out to be like so far, and they really appreciate that. And yeah, okay. The BDMs might be doing 20 calls a day, but you know, our focus is, is to have meaningful conversations and they are, and then everyday from that, we’re getting in four or five credit reports, um, that we can work on. So yeah, we were just very, very nice caring people. It’s not, we’re just not salesy. And that just comes from me because that’s my personality. I hate selling. I’ve never, never been in sales. I was before this, I was in home loans and I was in processing and always happy to be pine the computer. Um, you know, before that I did some firework, but I was behind the bar. Right. So, you know,

Darren Moffatt (25:42):

I like, I personally liked being in front of the bar. That’s I do, I do some of my best work in front of the bar. Um, okay. Anyone who’s launched a tech startup or worked in e-commerce will know that brand loyalty works a little differently in the online space. This is especially apparent in what they call SAAS businesses or “software as a service businesses”. I spoke to dr. Rob Newman, the CEO of online mapping platform NEARMAP NEARMAP is listed on the ASX 200 and has achieved a $1 billion valuation as a provider of mapping services to SMEs. Rob also been on the show before and listen to what he’s got to say about how a tech company goes about growing brand loyalty. And your model is a SAAS model. Um, their value proposition is very compelling and because it’s a subscription model, um, you know, if the subscriber is deriving value, they could just going to stick on that subscription. So in a sense, it’s a little easier in many cases for SAAS models to foster brand loyalty, but what specific measures have you done to promote that and try and, you know, um, really make those customers sticky, maybe upselling, cross sell, sell them into other products and so on.

Rob Newman (27:05):

Yeah. You know, I think there’s, you’ve kind of touched on one of the two sides of this. So one of them is providing value that goes deeper into the customer’s workflow. So, you know, as you can tell, if you provide a kind of a aerial image, um, you know, they can look at it, but if somebody provided the same service, is it easy to swap from our service to another service? Right. Um, so providing extra value content throughout 3D content throughout our similar medical generation of roof geometries, artificially derived, um, AI attributes through our near map on open solar solutions, providing specific solution for a specific industry, getting deeper into the customer’s workflow and providing more and more value just means it’s harder and harder for them to say, Hey, you know what, I’m going to move to something and something else. Right? So continuing their product journey towards deeper integration into a customer’s workflow makes sense. Now that’s a B2B story. Of course, right. The second piece is customer experience, right? So even if there is an equivalent offering, um, you know, understanding, uh, customer NPS, what there are detractors where the difference in detractors are, if there are detractors, um, you know, we have a very high customer NPS and our users absolutely love that part because

Darren Moffatt (28:18):

I’ll just cut in with the nerdy factor there again, are you really nerding out here, Rob? We love it here at Nerds of Business. That’s what it’s all about. So unpack the, the, that term, the customer NPS that you just explained.

Rob Newman (28:30):

Yeah. Customer, net, promoter score. Most people would have seen it, which is, you know, if you’re filling any survey, give me a score on zero to 10 as to how likely you are to refer me to somebody else. Right. And basically NPS is scored. If you get a, not if it’s the user, because you’re a nine or a 10, you get a plus one, if you get a, I think it’s a six, seven, eight, you get a zero. And if it’s lower than that, you basically get a minus one. So all of those detractors, the people that give you kind of six or less than a police go down below zero, all those people that are positive, pull your score up. Um, so if you have a zero, it means he’s got as many promoters of your services to tractors. If you have a score of 50 or above, you’re a fantastic business, right.

Rob Newman (29:10):

So we focus on that and that gives us then, um, an indication of, okay, how do our customers feel about us? And we have a great NPS between what is it at the moment? We don’t actually probably talk about it, but it’s, it’s way up there with the best SAS companies cleverly. And we’ve put in place dedicated customer experience team who makes sure that, um, that we are doing the right way of doing right by our customers and where there are issues we go back to. Okay. Why is there an issue here? Is this something in how we

Rob Newman (29:42):

Treat our customers is how we deliver our product to our customers. So we can then again, address those issues. So look, you know, as, as the business grows and we have over 10,000 customers globally, um, well over a hundred thousand uses on a monthly basis. Um, you know, you can’t go, as we talked about before to see the color of the eyes of every one of your users and customers. So you need tools like a net promoter score to give you that insight and then use the language from the, um, open text commentary to kind of say, you know what? We probably need to improve the ease of integration into this particular tool. Or we probably need to, um, you know, provide an extra tool here to make it easier, or make actually easier to access or something like that. Those are the things. So, yeah, that’s, that’s the, um, that’s the second part of it.

Darren Moffatt (31:05):

So the problem we set out to solve in this episode was brand loyalty. How to turn customers into raving fans who grow the business for you. Our branding expert, Rachel from the healthy brand company has revealed how brand loyalty works from a technical perspective and why it’s so important for every business. Um, we’ve also heard, and we’ve also heard some real life stories from our entrepreneur guests pick Pico at Pic’s peanut butter and Victoria Costa from credit fixed solutions, as well as dr. Robin Newman from near Matt. I hope their wisdom and insight have given you ideas to crack the code to growth in your own business for me. However, there are several important takeaways from this episode. Firstly, you need to step your customers through all the necessary prerequisites before they can become loyal to your brand. As we heard from Rachel, the first shit as we heard from Rachel, they first need to be aware of your brand.

Darren Moffatt (32:10):

They need to try it and engage with it and they actually need to like it. You then need to make it easy for them to keep buying from you. So you actually have to do a lot of the basics we’ve covered in previous episodes of this series, before you can hope to inspire any brand loyalty in your customers. Secondly, developing a relationship with your customers is important for a retail product like Pic’s peanut butter. This might be through social media or advertising campaigns, but for a service business, it might be something as simple as a schedule of regular client phone calls, creating an experience of customer delight should be high on your priority list. Finally, effective database management is essential for brand loyalty. As I mentioned earlier in the episode, this is where smaller businesses often fall down. If you don’t build and maintain a contact database of your past present and future customers, it’s much harder to communicate any loyalty scheme or promotional offers to them.

Darren Moffatt (33:12):

So be sure to invest in a CRM and email marketing, as we heard in the Harley Davidson story at the top of the episode, brand loyalty is so powerful. It can even help brands break into a new market with a completely different culture, but it’s clear that brand loyalty is earned and not given it demands a commitment to deliver on your value proposition consistently over time. You might think that sounds like a lot of effort, but remember it’s always easier and cheaper to sell more products to an existing customer than to acquire a new one. Not to mention the higher margins are good brands command for their products. And if you’re still not sold, consider this your existing customers are your best potential source of free advertising. Brand advocacy is perhaps the ultimate payoff for developing a loyal customer base. So if you want to turn your customers into raving fans who help you grow the business by spreading word of mouth, give them the tools they need to tell your story. And that all start with a feeling of affinity and loyalty to your brand. We’re coming to the end. But before we go, it’s time for our regular segment nerd under pressure where a guest has to share one killer hack or tip they recommend for you. Our listeners let’s find out who is our nerd under pressure today. Okay. Pick, um, we now come to a special segment of ours called

Pic Picot (34:46):

Right?

Darren Moffatt (34:48):

It’s all, it’s a bit spooky, spooky. This is where we have a bit of fun. And um, we put to you, um, a request for, for one killer tip around, you know, something that, uh, can add a lot of value to our listeners. And today today’s killer hack that we’d like to ask you about is, uh, brand loyalty. Um, what is one great tip you could give to entrepreneurs for growing brand loyalty? And I’ll give you five seconds thinking time now.

Pic Picot (35:19):

Oh my goodness.

Darren Moffatt (35:24):

Yep. You’re on

Pic Picot (35:26):

Enthusiasm is unstoppable. You know, if your enthusiasm, as soon as people ask you about your product, you’ll make other people enthusiastic – people want to be part of anything that’s sharing enthusiasm. People want to be passionate about it no matter what it is. And so if you’re not enthusiastic about what you’re doing, go and do something else.

Darren Moffatt (35:47):

So thanks for listening to the seventh episode of Nerds of Business. If you’ve enjoyed it, please leave a review on Apple, Spotify, Google, or wherever you listen to your podcasts. It helps us climb up the ranks and become more visible to other people. Just like you remember, we want to help as many entrepreneurs and business owners as possible. If you’ve got a question or some feedback we’d love to hear from you, you can engage with us at webbuzz.com.au/nerds. That’s webbuzz.com.au/nerds. So feel free to reach out and say hello. And don’t forget to enter our competition this week. I want to thank all of our guests and the team at Webbuzz for helping me put this show together. We’ll be back in two weeks with our next episode, which is a big one. It’s the B2B branding special until then. I’m your host, Darren Moffatt. And I look forward to nerding out with you next time. Bye for now.

Darren Moffatt

Darren Moffatt

Darren Moffatt is an award-winning entrepreneur & Director of Strategy & Content at growth marketing agency, Webbuzz. An experienced digital strategist, he is an in-demand public speaker on the topic of digital disruption and online marketing, and regularly features in the Australian media.

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