What is Brand Loyalty?
Brand loyalty is a type of emotional tie that consumers have for with a brand that leads them to continue to purchase, recommend, and stay with a brand over time. There are brand loyalty equations that some brands use to calculate the level of loyalty they have from one consumer or overall. This can be a combitnation of customer lifetime value, customer churn, and share of wallet, or other varying metrics that a brand determines as relevant. Companies will utilize brand loyalty to drive additinoal purchases with current products and across other products and brands in their family.