No brand has the right to exist.
Just because a brand’s been around for some time, it has no special privileges. It has to earn that right, by creating value for customers.
And it’s no good to have created value 10 years ago. It has to be still creating value today, tomorrow, next week, next year, and so on.
The basis of creating value almost always comes down to being useful.
Can you provide something that will help make my life better? Help me make better use of my time or money? Open up a better experience?
Apple of course is a great example of this. It has created products and services that are simple and intuitive to use, and are just very useful.
In a different way, so too is Starbucks. As well as a great cup of coffee, how many times have you used their “third” place?
Of course, it also has to be affordable to be of value.
I was brought up with the idea that value was largely a function of quality and price. Today though, it’s more a trade off of usefulness and price.
Does this brand help me enough, to be worth spending my hard-earned cash?
I don't know how many people I've heard say how useful Wholefoods could be to them, with its healthier products, but they just can't afford to shop there.
And today, it’s pretty much a given that any brand has to be reliable. It’s of little use to a busy life if it can’t be depended on, day-in, day-out.
In many ways, usefulness and reliability are today's definition of quality.
Be useful, affordable, and reliable…and you’ll create value for customers.
You'll earn your right to exist.
Such are Loyal Brands...