Monday, October 4, 2010

Brand Loyalty - Be A Savvy Switcher!

A shopper’s commitment to purchasing a specific brand repeatedly is called brand loyalty.  As an example, you love Crest toothpaste, it’s the only paste you’ll use and you’re even willing to spend more money out of pocket to keep your medicine cabinet stocked with it. You are a hard-core loyal.  It’s great that you’ve found a product that works for you, but it likely is not the only product that could work for you.

Smart shoppers are actually switchers or loyalty shifters! Switchers are willing to try new products and brands on a frequent basis because they are deal seekers. I teach shoppers that when cutting out coupons, they should cut out any coupon for any product, regardless of brand; that if the product were free, cheap or a family favorite they would use. This mindset changes the coupons shoppers choose to save and organize, because when something’s free most consumers will choose to use the product. That means when Colgate or Aquafresh goes on sale and after coupons is free or $0.25 bargain hunters will scoop up the savings.  It may not be their preferred brand, but it is dentist recommended, full of fluoride and gets the job done, all for less money. 

Being a savvy switcher doesn’t necessarily mean that you can’t ever buy Crest or think it cleans and refreshes better than any other brand. It just means that you don’t pay full price for a product that will go on sale. Until it goes on sale again in your price point — the point at which a price is low enough that you’re willing to buy a product — you should be willing to try alternate, yet efficient, brands to fill in the sales stretch. And you never know, you may find that in trying a new brand you’ll have a new family favorite (as long as you’re still willing to switch)!

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