Why Most Brands Deserve To Fail
In the overwhelming mix of products and brands why should you buy one over another?
When we evaluate the choices we have as customers, whether as consumers or businesses, we often realize there are only a handful of winning brands that stand out, that give us compelling reasons to buy from them. Most brands survive because they are competing on price alone, becoming commodities in the market. To be more successful they have to take a stronger position that differentiates. Successful brands need to stand out and connect to the customer.
Not all products and brands can be category leaders. You can't compete for a position that is unattainable, but you can carve out a distinctive niche in the market that speaks to the needs of customers.
Creating a brand environment where customers know they matter is key to growing customer loyalty. Build a strong and consistently engaging experience with customers, reflecting their voice and communicating back to them --- this has an enormous impact on brand recognition and loyalty, turning customers into brand champions.
Why does Trader Joe's do so well and have some of the highest margins in the grocery category? Why is Apple so profitable, while other computer makers have very small margins and are struggling to survive? There are 5 distinctive factors that need to be considered in creating a leadership role.
- Define and do what your competitors are not doing.
- Go after your customers, not your competition.
- Build campaigns that define why you're unique.
- Always position your brand in terms of value, not price.
- Know your niche and what your customers love: enroll them!
Building these relationships will build success because your customers need to know their brand reflects who they are, does not talk down to them and reminds them that they've made the right choice.
Good customer relations are not enough, according to Sandra Howard, Director of Advertising for Southwest Airlines. Creating passionate customer relationships is the goal. Although price is a consideration, the key to successful long-term brand-loyal customers is engagement, real value for the customer, and offering a practical solution that works. When you think of Apple, Southwest, Trader Joe's, UPS, it's all about the brand relationship and experience that is consistent and connected to customers.
Building The Brand Connection
Having Value Comes From Connecting with Customers
The key to building a strong brand presence online is applying the same consistent branding as in other channels, focusing your brand on the customers who most value you. A small company launching a new product or service can gain quick recognition when they follow these simple strategies that focus on unique brand value and a clear connection to their customers.
|