Consumers, now more than ever, are expecting greater satiation, rewards and experiences from brands in exchange for loyalty. A Forrester Research study isolates four key values and what creates the strongest draw for consumers.
- Credibility: Pride is the emotion that tops the list here. Consumers are looking for brands that they can not only engage with, but be proud of. They are looking for brands that reference their values and what they aspire to. When consumers are proud of a brand and its associations, they are more likely to recommend it to their social circle.
- Leadership: Brands that lead by example, especially when it comes to societal contributions, are said to reap the most rewards, especially in terms of pricing. Consumers are willing to pay a premium if it means their money is contributing to a good cause.
- Uniqueness: When it comes to differentiation and uniqueness brands should focus as much on experience as they do on their identities. Unique and memorable experiences are said to create strong ties to brands and are more engaging than a static identity.
- Relevance: Be relevant and provide value in consumers’ everyday lives. Become as indispensable as their daily cup of coffee by solving real needs in delightful and unexpected ways and becoming part of their lifestyle.