POSTED 15 Jul 2019 - 11:33

How might businesses build brand loyalty and keep customers in today's marketplace?

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What can they do to make their brand resonate with customers?

Top Response

Mario Singh, CEO, Fullerton Markets

I'm a big believer in two factors to keep customers in today's marketplace - speed and service. When these two factors are missing, customers will easily knock on your competitors' doors - whether it's because of pull factors such as "better value for money" and "convenience" or push factors...


Anders Liss, Country Manager, Scania Singapore
15 Jul 2019 - 11:41

In business-to-business marketing, customers take the longer view for their purchase decisions, compared to consumers. The organisation should thus gain a deep understanding of what makes perfect business sense to these B2B customers.
What long-term benefits do they need?

The branding effort should not be done in isolation. Development work should ensure, firstly, that the product delivers the exact promises that address the customers' needs. These promises are embodied in the brand and constantly reinforced in the ongoing customer experience, which includes all the after-sales touch points.

The B2B brand is not about instant gratification. Take a longer-term view, and the brand differentiation becomes more distinct. Get it right, and you build customer loyalty.

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Azman Jaafar, Managing Partner, RHTLaw Taylor Wessing LLP
15 Jul 2019 - 11:40

In the legal services sector, the personal branding of star lawyers can play a big part in retaining clients. However, the long-term solution to building brand loyalty must extend beyond the individual and focus on the firm's overall value and unique selling proposition.

We believe that the firm's ability to address the client's needs comprehensively carries far more weight towards retaining clients than promoting common attributes shared by many.
Having a regional ecosystem of professional services to deliver the right solutions for clients and complement the firm's legal services builds a unique brand that keeps clients coming back.

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Motohiko Uno, President, Fujitsu Asia Pte Ltd
15 Jul 2019 - 11:40

As more products and services increasingly become commoditised and are competing for attention, customers today are using their own inner filters to make informed choices.

Winning and keeping them will not be solely dependent on brand recognition, or years of brand investment and loyalty anymore.

As a technology brand, we need to transform fast enough to keep up with and stay ahead of customers' needs, be accessible and deliver satisfaction.

Engaging customers to recognise, resonate and be emotionally connected with a brand's true purpose and vision will be as close to loyalty as we can expect in today's society.

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Mario Singh, CEO, Fullerton Markets
15 Jul 2019 - 11:40

I'm a big believer in two factors to keep customers in today's marketplace - speed and service. When these two factors are missing, customers will easily knock on your competitors' doors - whether it's because of pull factors such as "better value for money" and "convenience" or push factors such as "dissatisfaction and disappointment".

In our company, we measure speed by ensuring that the time taken to complete processes decrease over time. We measure service through the 3Ps: service must be proactive, present and personal. When speed and service are present in any company, the chances of customer retention and brand loyalty increase significantly. In fact, as a bonus, I've also noticed that speed and service build goodwill and tolerance with customers on days when we do slip up.

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Ivy Lai, Country Manager, Philips Singapore
15 Jul 2019 - 11:39

Key to brand loyalty is knowing what consumers want and offering them products and services that meet their evolving demands. By speaking with consumers and analysing their behaviours, we then design our products and solutions around data-driven knowledge and trends. We believe that brand loyalty is built on enabling empowered consumers who are taking a more active role in their own health and well-being with meaningful innovation, people-centric designs and trusted brand quality.

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Sudhir Agarwal, Chief Executive Officer, Everise
15 Jul 2019 - 11:39

In today's experience-led economy, people don't just buy products; they buy experiences. In order for brands to build loyalty, they need to be able to tap on technology to create quality customer experiences. For example, companies can now look to artificial intelligence (AI) to better understand their customer support, while ensuring highly trained employees are physically onsite to offer that human touch. With the integration of technology, companies can efficiently scale high quality customer experience (CX) to improve customer satisfaction and ultimately retain brand loyalty.

Martin Alintuck, MD, South East Asia , Ruder Finn Asia
15 Jul 2019 - 11:38

Six key points:

1) Deliver what you promise - it is the quickest way to ensure brand loyalty.

2) Purchase decisions are made for rational and emotional reasons. Remember that, and pay attention to both.

3) In today's world, consumers want brands to stand for something, not just be about selling them something.

4) If you make mistakes, own them, be 100 per cent open and honest, and make sure they don't happen again.

5) Be authentic in how you speak to and interact with your customers and potential customers.

6) Play the "long game:" loyalty isn't built overnight.

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Benjamin Low, VP, Sales, Asia Pacific Milestone Systems
15 Jul 2019 - 11:38

It is not just consumers who are readily switching brands. For businesses, being the biggest or best known in a particular field does not hold the weight it used to. Like regular consumers, companies want greater choice of products and services - and easy ways of finding them. In the consumer space, this has been achieved by e-commerce sites, ride hailing and food delivery apps, which have used the platform model to connect buyers to more sellers/service providers than could possibly have been imagined a few years ago. In the business context, Milestone Systems has similarly created a platform which connects buyers and sellers of related products and services, demonstrating that the platform model can be harnessed by traditional industries. All businesses therefore have the opportunity to innovate their way to improved brand loyalty.

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