Speakman Wisdom

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How many brands are you really loyal to? When the time comes to replace your car is it automatically another Ford, another BMW or another VW you choose? When you head off for your weekly shop is it a regular visit to the same Tesco, or ASDA or Waitrose? And when it’s time to book your holiday is it Thomson, Thomas Cook or your local independent you turn to for advice and help?

Loyalty is funny concept. In my experience there are precious few things that people are categorically and consistently loyal to; sports teams, political parties, religions, family and country. After that it seems to me it’s mostly all about convenience, habit and laziness. I’m exceptionally loyal to the post office shop in my village for the sole reason that it’s a two minute walk from my front door. When I do a big shop I know that ASDA is a little bit nearer than Tesco and probably cheaper, but I’m just in the habit of shopping at Tesco - it’s familiar and I know where everything is. I even head to the same area of the car park each time I visit.

When I consider the brands I’ve been most loyal to, in the main it boils down to laziness. Hands up if your current account is still with the same bank you joined when you left school – mine is. Not changed your energy supplier since you moved house? Me neither. I’m not sure this even counts as loyalty, it’s just inertia.

There do though seem to be a couple of reasons why some people consistently stick with their chosen brands. The first is a lot to do with vanity. It’s about the badge on the bonnet, the label on the t-shirt, the apple on the phone. I drive a Porsche, I wear Ray Bans and a Gucci T-shirt, and I make sure my Calvin Klein pants can be seen above my belt. None of which is true, obviously, but for a certain type of fashionista (fashion victim) it’s exactly this type of brand association that keeps them loyal.

The second reason people stay loyal is much deeper and more stable because it’s built on an unwritten contract which goes roughly like this: ‘I (the customer) recognise that you (the merchant) have done more than just sell me a product. You have genuinely added value to this transaction. You have spent time with me, understood my needs and tailored the right product accordingly. I will repay your individual attention with my loyalty.’

There’s something in our makeup that drives us to reward those who help us most.

The best quote I’ve ever heard from someone in travel came from David Speakman who founded Travel Counsellors. He said ‘If customers come to you for price, they will leave you for price.’ In other words, loyalty built on price alone isn’t loyalty at all. Only by building a trusted relationship with customers can we expect them to stick with us.

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