If you go out to buy a product you’d come across a vast variety of products available in the market. The retailer will offer you n number of fine quality products but as a quality seeker, you’d prefer to go with the brand. Why so? It’s because of the brand image. A brand is the symbol of faith and public trust that drives brand recognition to the next level. It takes years to establish goodwill and win a positive outlook from the audience.
For example, if we look to buy a laptop, people with a high budget will go for Apple’s Mac. There are a certain number of laptops that are good in features and equivalent to that of Mac but still, the preference is more towards the Apple brand. It is because of the brand image and the global popularity that people prefer it even if the price the brand offers is too high.
So, what basically, brand image is all about. We’ll now understand it in a brief. Brand image is actually the mindset or perception in the minds of customers based on their experience and the satisfaction level they attain with that particular brand.
However, the image can be positive and negative at the same time, but every business seeks to create an optimistic image in the marketplace. Moreover, it is often seen that in the current market scenario, more than 90% of purchase decisions are based on the brand image and it’s the brand image only that reaps extra market advantages to the business as a whole.
How does brand image help in customer retention?
Well, nowadays, everywhere businesses are in the race of bringing their brands into the limelight. However, it is not that easy. A perfect strategy is needed to establish a brand and make it everyone’s favorite.
Right Plan + Right Technique + Right Resources = Robust Brand Image
Below are some points that depict the importance of brand image in retaining the customers and earning customer loyalty.
Makes it easier to introduce a new line of products or services
An established brand will never find any kind of difficulty in introducing a new line of products or services because people already know the brand and they will rather rush to the showrooms to seek new arrivals and the reason is its ‘brand Image’.
Old customers become your brand advocates
It’s a very common but important point. The customers already using your brand will appreciate it and will tell their friends and family about it. In this way, old customers act as brand advocates for your brand and help in free marketing as well.
Strong brand identity offers price advantages
Just like discussed above, Apple offers products that are pretty high in price in comparison to other available market products. Thus, a strong brand identity plays a vital role and thereby, helps the brand to win pricing benefits at the same time.
Creates recognition in the market
This point is self-explanatory. A good brand image automatically creates a positive image for the brand in the market and thus, helps in creating positive recognition too.
Appears as an x-factor in terms of standard
It’s often seen that ‘brand is the symbol of luxury and class’. Yes, the statement fits perfectly here. People who are conscious about the standard and class in what they wear, possess or have, often prefer the brand as they want to maintain their prestige. This way brand image plays a crucial role and is very helpful in customer retention as well.
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