So, Are You a Love Brand? Or Just a Logo?
Jan 24, 2022
Your mission and purpose constitute essentially why you exist and what you do.
But how do your customers or clients or members respond? How do you know?
What exactly is your brand equity?
This involves two components:
- brand awareness, and
- brand love.
Brand awareness is critical to your presence and effectiveness.
It is a pyramid beginning with those who are unaware of your brand and do not know you, through brand recognition where your public can recall you with some assistance, and brand recall where you are remembered unaided and then, of course, you are top of mind.
Brand love is somewhat different. It is the percentage of your target group that has bonded with you. Here the three levels are indifference, liking your product and service, and loving it.
When they like it, it is a rational response, but when they love it, it is an emotional response.
So... are you a love brand?
- Are people willing to pay more for your product and service? How do you know?
- Are they loyal? By what measures?
- Do they value their experiences with you more than your products themselves?
- Have they got a story to tell that connects them with you and with other customers?
To be clear then your brand is not your brand identity - this is simply your logo.
More important here are your mission, purpose, and values.
And the perceptions that people have based on their prior experience with you. This includes the attributes of your personality, the traits that they see in you.
It is a gut feeling about your service and product. It is the story that customers tell each other
"Your brand is what people say about you when you’re not in the room". -Jeff Bezos, of Amazon
So, what is it about your product and experiences that constitute the stories that your customers like to tell?. What do they like and not like about you?
You need to own your story but you cannot own the storytellers, your customers.
What do you want to be known for? How will you drive the narrative?
How will you assess and measure? Monitor and adjust? Use and influence?
And remember the power of simplicity!
What are your main “pain points” dealing with your brand and identity? What advice would be most helpful to you? And we always assume that you are asking for a friend!
Get in touch. We’ll address your questions and concerns in an upcoming blog post.
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