"A brand is a reason to choose."
I love this quote by Cheryl Burgess because every day we make brand choices - some conscious, some subconscious. Do you give your customers a reason to choose?
What is it that makes someone buy a more expensive version of a seemingly mundane product or service over a cheaper brand?
Take tins of beans for example, why does anyone buy a name brand over the home-brand?
Reputation? Perceived quality? Maybe they don't want someone to see they have the cheapest option in their shopping cart. Can tins of beans be linked to status?
Absolutely.
But this blog isn't all about beans, I promise. My point is that every purchase we make is connected to a value and satisfies a need. That may be as simple as a basic, fundamental need to be fed, in which case we'd all be buying the home-brand. But in reality, there are often hundreds of brands selling very similar products and services at varying price points.
That's because consumers satisfy different needs with different things, at different times. Physiological, safety, belonging, esteem and self-actualisation needs (according to Psychologist, Abraham Maslow's Hierarchy of Needs). Believe it or not, a tin of beans may serve more than just a physiological need.
What drives the decision of which option to buy, comes down to branding...
It's the position your brand has in any given market that makes you first choice for your customers, and positioning stems from your values and alignment of those values with your customers.
Whatever you stand for, be it quality, fair trade, health and wellbeing etc, you can use your values to differentiate and position your brand in the minds of your customers.
So, whether you sell tins of beans or something worthy of more consideration, getting clear on your brand values is the first step to a successful brand strategy.
I'm currently working on a new free virtual summit on exactly this topic, called Values-Led Ventures. I'm planning it now and reaching out to value-led leaders in sales, marketing, business design and leadership.
I'd love to hear from you if there's a topic you'd like me to cover or a speaker you'd like to see featured. Send me an email if you have a brand question you want answered or any ideas that could help other small, values-led businesses.