Last weekend I spent the day in Chichester, ostensibly to start my Christmas shopping; but truth be told looking for cosy but indulgent lounge wear. I spent a happy half an hour checking out one of my favourite brands, Mint Velvet, whose winter marketing campaign I love.
As I rifled through the cashmere jumpers and lace backed camis, this got me wondering why I was prepared to pay premium prices for items I could easily get in other shops for less. The answer was brand. Mint Velvet has created a brand that speaks to me and my aspirations. Here’s why.
How has The White Company turned its brand into one that customers love, trust, and respect? This was the question I asked myself as I was buying a number of their products over the weekend. The secret is brand admiration when “brand admirers” become loyal customers and brand advocates.
If you think about the qualities that are foundational to every successful relationship, there are three: trust, love and respect.
You’ve got a cold, so you ask someone to pass you the Kleenex. You want to vacuum your carpets so you get the Hoover out. If you want to search for something online, you Google it. Why do we use the brand name rather than the product description? Because their brand strategies have been so effective that we use the actual brand name, not just the name of the product they sell.
In response to the recession, brand loyalty has been steadily declining, with shoppers saying that they won’t necessarily return to ‘big name brands’ once the economy is stronger. They have developed what’s called a ‘recession mindset.’ Nowadays, shoppers will often bypass the idea of brand loyalty if the product is available at a lower price somewhere else.