031 | What you can learn from a brand that went from being a commodity to a cult brand
Why you’ve got to listen to this episode:
Becoming a commodity is a dangerous thing for any organization even if you have high demand for your products or services. Being a commodity means you don’t have a brand and an emotional connection with your audience. This means that given a choice, your audience would easily choose another product or service. One that carries meaning and represents their values, and the life story they want to have.
This episode tells the story of a brand that although at a time dominated the market, was at risk of becoming extinct. This company didn’t take the time to build a brand. Instead it was just pushing a product.
Remarkably, this company was able to achieve what very few can, they went from a commodity to what many call a cult brand.
This story is a great example of the importance of investing in your brand, not just your products or services.
Who can benefit from listening in:
This episode is useful for anyone who is building a company or has a product or service. Regardless if you are experiencing success or not, this episode will make you think and re-examine how you’re talking about your organization or product and service.
Are you taking the time to build a brand, to create an emotional connection with your audience? Are you a meaningful brand or are you just pushing your product or service? Given a choice, will your audience continue to pick you? If you make a mistake, will your audience stand by you? Are you becoming part of your audience stories or are you just a means to an end?
Key takeaways from this episode:
- You’re selling a story and it’s never be more important to know which one.
- People don’t want to buy something, they want to buy into something.
- Branding is about emotion. It’s about making your audience feel a certain way.
- Buying is no longer about getting things you need but rather creating or reinforcing a set of beliefs and lifestyle.
- Brands create emotional deeper connections. These connections are critical at decision making times.
- Brands have meaning to their audiences, well beyond the practical use of their products or services.
- Brands represent the life your audience wants or strives for.
Links to resources mentioned in this episode
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