Brand loyalty is dead, says WE Buchan’s general manager

Brand loyalty is dead and the focus for marketers in the finance industry should be on making sure customers want to hear from finance brands again, WE Buchan’s national general manager, Gemma Hudson, has told a room of marketers.

Speaking at Mumbrella’s Finance Marketing Summit, Hudson said: “This idea of brand loyalty as we’ve long played around with is certainly quite dead and it’s actually no longer about loyalty.

Hudson and Ryan explained why brand positioning is dead

“The question that we need to ask ourselves as marketers is what are we going to do to make sure that our customer wants to hear from us tomorrow regardless of what we do today.”

Hudson said unsurprisingly brands are loved one day and shamed the next and should focus on making sure their customers still want to hear from them regardless of their day-to-day actions.

WE Buchan’s national general manager added businesses shouldn’t be “stuck in stone” instead they should have flexibility as well as consistency in delivering what the customer needs and wants.

“That is what stability is these days. It is not all about the heritage and it is not all about the innovation, it is about the balance of those two things together.

Drawing on WE Buchan’s Brands in Motion study, the national GM of the PR agency said customers want to know brands are pushing boundaries and moving forward.

“Brands who are seen as cutting edge are more likely to be seen as loved which talks to brands and how they’re acting with their customers.

“They were more likely to be seen as having a positive impact or positive experience and also if you are seen as cutting you are more likely to be seen as having social impact in the world.”


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