EBSCO Publishing has just released a new book summary. The strength of any brand depends on its emotional connection with the purchaser. This emotional connection is very similar to a romantic relationship and carries with it the same investments and risks. In order to romance a brand, the seller must generate a meaningful customer experience that generates broad brand loyalty, talk value, and consumer advocacy. This approach to marketing embraces the primal power of deep, personal psychology with the profitability of global sales. In Romancing the Brand, Tim Halloran helps marketers bring about greater intimacy between their products and consumers.
Tim Halloran offers readers the following advice:
· “Romancing the brand” is a method for understanding how and why consumers bond in long-term, personal relationships with products. Emotional concerns are as important in marketing as economic interests. The brand-consumer relationship is analogous to a love relationship between two people.
· The first step in romancing the brand is to identify the “one thing” that makes a given brand special. To find a product’s specialness it is necessary to dig deeply into all aspects of the product, including its competitors. Deep knowledge of a brand enables a more precise understanding of its consumer base.
· Psychographic marketing enables an understanding of consumer attitudes, passions, and beliefs. Knowing a consumer base helps marketers identify distinctive consumers who “click” with their brands. Buyers select products, and products should also choose their buyers.
· Communication strategies for marketers should follow the example of how people communicate in a romantic relationship. Honesty, personalization, and an emotional connection with the buyer are the best ways to promote evangelists—
· The brand-customer relationship can be kept fresh through innovation. Forms of innovation include repackaging, new communication, changing locations, and new products. Boredom and ruts are serious threats to any relationship. Radical innovation is needed in cases of serious stagnation.
· A brand crisis or brand collapse can be turned around by determining the exact nature of the problem, forming an action plan, remaining transparent to the customer, leveraging the crisis, and consistently prioritizing the brand-customer relationship.
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