Stickiness is a word to describe customer loyalty—how likely your customers are to “stick” with your brand.
Stickiness is as dynamic as the forces around it including economic uncertainty, brand integrity and personalities. When the economy tanks, big brands (Toyota, GM, and Lehman Brothers) falter, and people have lost or are afraid of losing their jobs, stickiness is going to fluctuate, also.
Some people will shut down out of fear or a sense of being overwhelmed. They will blindly follow those brands that have not blatantly failed them on their brand promise. They will avoid like the plague those that have been publicly flogged.
Other people will become brand skeptics or cynics, and re-evaluate every transaction they are engaged in. These people are as “un-sticky” as they can be.
And many other people will fall somewhere in the middle of this spectrum.
How can you take advantage of this fluctuation?
- Realize that you can’t take your loyal customers, much less your other customers, for granted. You have to live up to your brand promise for all your customers. And you probably need to strengthen your brand promise.
- There are probably some customer segments out there that will be more open to your offer than they were before. Make sure you are exploring customer markets you thought you were shut out of before.
- People that wouldn’t have even considered switching are probably proactively shopping. Make sure you are visible to them—where and how are they shopping?
- You may be able to get more meetings and sales presentations, but it might be harder to win them. Focus on your value proposition and your sales presentations.