We often think of brand value in financial terms. But that value, I would venture to suggest, is actually a result of a broader initiative that brands need to think about in these busy times: finding ways to be valuable in the lives of those who buy from them.
Some time back, I looked at what it took to get a brand promise right. In this post, I want to examine the converse: when (consumers feel that) brands have not lived up to what they said they would deliver. What happens to generate customer disappointment?
Have we become so pre-occupied with the niceties of brand that we’ve forgotten the reason they exist?
In 2000, an article in Wireless called into question whether machines were quite the panacea we hoped they were. It was possible, said the author, that this dependence on machines was not going to a good place.
Why do consumers keep brands in their lives? Relevance.
Marketers love patterns. But repetition is not always the most reliable metric for loyalty. What makes your brand attractive?
Consumers look for products and brands that are relevant to their needs. Self evident. But the ways in which they make those choices are much more complex than quality or availability because they are so much more human.
Differentiation is acknowledged by most as the goal that every marketer should be seeking. But the enthusiasm for the pursuit masks a common misunderstanding – in the context of brand strategy, different and difference are not one and the same.
It’s increasingly easy to be a brand that people talk about in glowing terms, part of a sector that appears to be booming, and yet on a downward slide financially.
If your brand is taken over by another company or your company takes over other brands, either as a stand-alone buy or as part of a broader merger and acquisition, what aspects of your current brand should stay as they are and what might you look to change?