To be loved by loyal consumers, a brand needs to be perceived as premium, align with its customers’ values and beliefs, and provide consistent experiences. This is according to the 2024 True Brand Experience (TBX) report, Building Brand Love & Loyalty, by lowercase, Innocean Group’s brand experience advisory.
The TBX report by lowercase surveyed 1,000 Australians aged between 18 and 80 on their views of 25 brands across sectors including retail, automotive, tech, banking, beauty, and online delivery. Of these 25, the study identified common characteristics of the nation’s top 10 brands that are ‘bought most often’ and considered ‘favourite’ by the Australian public.
The aim was to uncover the strategies employed by these beloved brands and the secrets behind their success in cultivating brand love and loyalty.
Tesla, Dyson, and Bunnings topped the list. Brands with a focus on providing strong solutions for Australians, like Canva and MilkRun, also made the top 10, along with smaller brands such as Messina and Oatly.
Australia’s top ten favourite brands (TBX)
“The top 10 brands list looks quite different to other brand rankings because it is based on what is most important to consumers – true brand experience and their expectations from brands,” said lowercase managing director, Matt Morgan.
“Our research delivers a powerful message: consumers reward brands that consistently fulfil their promises across every interaction with unwavering trust and loyalty.”
To achieve brand love and loyalty, the TBX report determined the three most important factors were value for money, good customer service, and relevance to the respondent’s life.
Additionally, the brands possessed the following key attributes:
• Value Alignment: 88% of consumers favour businesses that resonate with their personal values, such as ‘standing for more than making money’.
• Consistent Experiences: TBX brands excel in delivering consistent and authentic experiences across all customer interactions, from marketing to post-purchase.
• Shared Beliefs: TBX brands put customer beliefs at the heart of their brand promise, making them 2.3 times more likely to resonate with customers on an emotional level.
• Customer Recommendations: Consumers are four times more likely to recommend TBX brands to friends and family, significantly boosting word-of-mouth marketing.
The study showed that price, brand distinction, personal connection, and consistency are critical factors in shaping consumer preferences and loyalty in Australia.
Price and budget were primary reasons for not classing a brand as a favourite for 35% of respondents. While favourite brands excelled in distinguishing themselves from competitors. A strong sense of familiarity with the brand was also found to be crucial, highlighting the importance of cultivating a personal connection with customers.
Moreover, 85% of respondents indicated their favourite brands had product descriptions that matched advertising promises, and 77% felt they had a clear understanding of what their favourite brands stood for. Finally, 76% of respondents highlighted the importance of a consistent look, feel, and personality in their favourite brands.
Morgan continued: “This report is a wake up call for Australian brands drowning in the noise of big data to start truly listening to their customers once more. By embracing the art of listening, brands can build meaningful two-way relationships, ensuring differentiation and consistency across all touch points.
“Despite the challenges posed by internal silos and business complexity, the data proves that leading Australian brands have found a way to streamline their operations and place the customer at the heart of their brand experience.”
See also: Innocean wins creative, media, and strategic consulting for Geotab
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Top Image: Matt Morgan & Jasmin Bedir