Consumers Reward Brands with Emotional and Social Connections.
Amazon knocked the Apple iPhone off the top perch in the 15th annual Loyalty Leaders list from Brand Keys, while Facebook came from nowhere to the number three position.
Apple need not be overly concerned, however, as Apple also ranked fifth in customer loyalty for its computer products. Amazon may also have benefitted from the free fall of Borders, which dropped to dead last in 528th position.
The Brand Keys Customer Loyalty Engagement Index assesses 528 brands across 79 categories, using both telephone and face-to-face interviews with consumers.
While Brand Keys claims that its “proprietary customer-listening system” is predictive, highly accurate and close to 100% test-retest reliability, the firm does not share any details about the methodology behind this study. They also claim that the Brand Keys Loyalty Model is a leading indicator of brand and corporate profitability, though that is hard to swallow when BP shows up six places from the bottom in 523rd place. While the BP brand certainly deserves to wallow at the bottom of this list, I cannot see BP’s future profitability falling to the same level as Borders , Friendster, Bank of America and others in the bottom ten.
I would agree with the assessment by Brand Keys that “brand loyalty has always been driven by emotion” and that “consumers are looking to emotionally connect with brands that stand for something and delight them.”
The Top 100 Customer Loyalty Leaders is a mixed bag of technology, retail, social media, alcoholic beverages, and fast moving consumer goods (FMCG) brands. Interestingly, only 13 of the top 100 (though five of the top 10) would be on my personal list of brands that would receive my loyalty. How about you?