Love is in the air, and the value of that love between consumers and their favorite brands is at the center of rbb Communications’ latest Breakout BrandsTM report.
As communications and marketing pros, we enjoy being matchmakers who make people fall in love with our clients. This adulation and the resulting loyalty is the bedrock of success for many brands since the cost to acquire a new customer is far higher than to keep an existing one. And what price tag does customer loyalty carry? A hefty number according to our Breakout Brands study:
- It would take more than $220,000 to bribe customers away from their favorite product
- For 43 percent of consumers surveyed, no amount of money would be enough to abandon their favorite brand
- 93 percent of this group would actually pay more for a brand where there’s an emotional connection
When talking about brand “love,” V-Day is the perfect time to discuss the purchasing habits of couples. Finances and buying decisions can often be a serious point of contention, but our survey found a surprising amount of trust between partners. The main takeaway is that 62 percent of consumers would allow a significant other to make all of their major purchase decisions for the next six months.
Keeping these findings in mind, I invite you to learn more about the emotional attachments between a brand and the customer, and also enjoy this video.