- You’re right, brands create expectations. A distinct brand sets itself apart through unique value propositions, not just price. It offers an experience, a story,and an emotional connection that justifies a premium over substitutes.
- Mini boutique hotels: They differentiate by creating a party atmosphere and prioritizing sleep-on-the-go value. They target specific traveler’s who resonate with that experience.
Value of a Brand:
- Brand value goes beyond price. It includes the emotional connection, trust, and perceived superiority that differentiate your product/service. Consumers pay extra for these intangible benefits.
- “Work that matters”: This resonates with consumers seeking brands aligned with their values and making a positive impact.
Beyond Slogans, More Than Demographics:
- Slogans are memorable phrases, but authentic actions build trust and loyalty.Focus on the “work that matters” that connects with your audience’s values.
- Demographics vs. Psychographics: Traditional demographics only provide basic data. Psychographics delve deeper into values, interests, and lifestyles, creating a more holistic understanding of your audience.
- Cars and colors: While car type and color offer some insights, the internet opens doors to deeper understanding. Analyze online behavior, social media activity, and content engagement to truly grasp your audience’s values and interests.
Targeting Specific Audiences:
- Communicate clearly: Don’t be afraid to say “this is for you” or “this is not for you” based on shared values and principles. Align your brand with specific audiences who resonate with what you offer.
- Data collection: Search engines and websites collect data for personalization, not manipulation. When done well, it enhances the user experience by offering relevant content and products.
Finding Your Audience:
- Go beyond just data: Combine data analysis with qualitative research like surveys, interviews, and social media listening to understand your audience’s motivations, interests, and pain points.
- Amazon vs. bookstore: Personalized recommendations can be helpful, but offer different experiences. Striking a balance between personalization and individual exploration is key.
