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A strong brand can mean the difference between winning or losing a sale, commanding a premium price or selling at a discount. While this has been proven time and time again through research, many executives (perhaps you?) still question brand value, especially at budget time.

Building brand value requires a long-term commitment and consistent investments in intangibles like relationships and awareness. Because influence, affinity, and defense can seem ethereal, it’s easier to allocate scarce financial resources to new equipment, facilities, hiring, or technology.

Brand love is not something you can easily touch, hold, or measure, but it pays dividends nonetheless. Brand influence can set your business apart from a host of competitors. The more passionate customers are about your brand, the greater the difference in value between your business and others.

If you’re not sure how to tell when customers love your brand, here are 5 telltale signs:

5 signs of love for the brand

Your most passionate brand advocates…

  1. Tell all their friends about you. They are vocal ambassadors for your brand, spreading the word because they want their friends and associates to share in the great experience of doing business with your company. Think about the last time you had a great meal at a new restaurant or played a spectacular golf course. Did you keep it to yourself or did you share it?

  2. You want more of a good thing. When people trust your brand and enjoy the customer experience, they look forward to the opportunity to connect again and again. Customers eagerly anticipate the introduction of new products and services, like fans lining up to buy the latest Apple product or the release of a new game.

  3. Overlook your flaws. Every relationship has flaws and it is inevitable that eventually there will be misunderstandings or miscommunication. This could spell the end of a customer relationship for companies with weak brands or bad reputations. When you have a passionate following, small mistakes or missteps are forgiven. In fact, if you recover well, they will love you even more.

  4. We look forward to a future together. Just like lifelong fans of professional sports teams, customers who love and trust a brand anticipate a long-term relationship. Even if they don’t know what’s coming next, they have faith that, from season to season or version to version, you will deliver on your commitment to meet their needs and expectations.

  5. Make sacrifices to be with you. Engaged brand advocates seem bought into your company as an investment. They will save their money and give up other things to do business with you, even if it costs more. They don’t mind stretching themselves a bit to realize the benefits, and advise others to do the same.

All of these things point to some real bottom line benefits. You they can measure brand equity when it translates into:

  • Reduced customer churn
  • Shorter sales cycles and more efficient forecasts
  • Premium prices and improved margins
  • Increased customer lifetime value
  • Waiting lists for new product launches
  • Improved marketing ROI

I could add so many more items to this list, but instead, I’ll challenge you to think for yourself. How does having a powerful and cohesive brand improve your business? Do you enjoy the benefits of passionate customer advocates?

By admin

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