Brand switching in some ways it is almost inevitable as that is what makes competition. While one company is trying to keep customers, another is trying to lure them. Getting into the mind of a consumer is with social media has become easier with brand mentions, conversation and monitoring but it still does not penetrate enough into what makes and/or continues to make a consumer choose Brand A over Brand B. In certain instances the consumer refuses to brand switch by not even be willing to look at another choice as we all have certain brands that we will not stray from. We know from this blog that I will not stray from Heinz Ketchup, Vlasic Pickles, Diet Pepsi which of course there are more but what makes me as a consumer or any consumer not brand switch or even deeper what makes us brand switch on certain items but not others?
How to Avoid Brand Switching
1. Price. Price matter regardless if it is high or low. Is price a driving force? Or does perceived value play more of a role? Perception. Is your offering whether it be product or service best priced for the value? Does that even matter when determining price? As a company, your value has to exceed expectations so that consumers ignore price.
2. Increased Risk. What is the perceived risk of switching? For a loyal customer a lot but for those on the fence you have to create the perceived risk. As a company you *know* that you have a better product but is the competitor able to connect with the consumer to resolve or eliminate the increased risk of switching?
3. Keep the Habit. Habits are within us but when it comes to purchasing power we tend not look at it as a habit. Habits are our worst competitor as habits that can be broken; or not. Loyalists are habitual people. They buy from you because either they always have or the alternative is not an option. Habit.
4. Customer Relationship Management. How often do you talk to your customers? Good ones, a lot but what about the people who are 90-120 days out or more? Natural reaction is to send them an incentive to buy … well, what about not sending them an incentive to buy but more of a reminder that you are there and offering them a chance to buy at full price? Changes the game a bit but sending them something without an offer of discount turns into return customers as now they are “off the priority list.”
As always there are so many more ways to retain customers with great products, awareness, mentions, customer service but these are the staples. Think of the staple removers and how customers think and how you can brand your brand. As a company think of the brands that you a loyalist to and ones you switch to. Why do you switch and then look to see if there is anything inside of your offering that would sway people to switch.
How do you avoid brand switching?
photo credit: swissmiss