If your business is not a brand, it is a commodity.
There are hundreds of people who are selling exactly what you are selling. So why should anyone buy from you?
That’s the real question you should be asking yourself right now.
When you go out to buy a packet of salt, sugar, or some veggies, you don’t care what brand you are buying. You just pick, pay, and go.
There is no loyalty towards any brand
There is no word-of-moth.
There is no connection.
Hence, there is no brand value.
But when you buy a mobile phone, shoes, or a car, you don’t just pick, pay, and go. You research. A lot.
And when you do decide to pick one brand, and if that brand manages to
fulfill over-deliver your set expectations and make you fill as if you belong, then,
You tend to stick with the brand for longer.
You share it with everyone and everywhere possible.
You feel like a part of the community who use that brand.
Hence, there is a brand.
As Seth says, “A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer (whether it’s a business, a buyer, a voter or a donor) doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.”
In simple terms,
Business is about belonging. It’s about community. It’s about relationship & trust.
Whenever a person buys your product, they need to feel like they are a part of your brand.
Think about companies like, Harvey Davidson, Apple, Vans, Toms, Converse, Zappos, Nike, Linux. Each one of them have one thing in common – a sense of belongingness.
Their customers and users don’t just buy from them because they NEED their product. They buy from them because they think they are a part of a community who uses the brand.
So are you running a brand or a commodity?