Customer value is one of the most talked about aspects of marketing today, but many senior decision makers are hard pushed to articulate how exactly their business is creating meaningful customer value and how that tangibly contributes to their business being more valuable and competitive. Even if they can put that into words, a powerful customer value proposition itself is really just the start. Harder still is maintaining customer value over the longer term. Here’s why.
Small brands are edgy, attuned and preferred. That seems to be a common sentiment right now. But there is nothing to suggest that any of this makes it easy to win as a small brand today.
Brands drive attention and income off awareness, but they derive their real value from their ability to shift and sustain longer term sentiment.
It’s happened to Doc Martins, Burberry and others over the years: groups turned their brand into a symbol of something the brand itself did not believe or endorse.
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?
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.
It’s not always easy to spot that your brand is falling out of favour with consumers, especially if, on the face of it, things look healthy.
Why do consumers keep brands in their lives? Relevance.
Marketers love patterns. But repetition is not always the most reliable metric for brand loyalty. What makes your brand attractive?
Perhaps it’s inevitable. At some stage, a brand is going to do something to upset customers and prospects. That’s the price companies pay for trading in an era of greater and greater transparency. The key question is: when something does go wrong, will your brand be forgiven?