We don't like to admit it all the time, but buying is a very emotional process.
Imagine walking into a clothing store and picking up a plain white t-shirt. It's made of cotton, costs a few dollars in materials, and likely has a relatively low manufacturing cost. Let's say it's $9.
Now, imagine that same $9 t-shirt with a Nike symbol emblazoned across the chest. Suddenly, the price tag is significantly higher at $35. And people are excited to buy it and wear it that day. So, what changed? The cotton is the same, and the manufacturing process is unchanged, yet the perceived value of the t-shirt is now exponentially higher. And we emotionally connect and want it.
This is the power of branding—the ability to transform a basic commodity into a coveted item that commands a premium price.
So what can make your logo as powerful as a Nike logo? It's simple. Branding. But if it's so simple when you place your logo on a shirt, why doesn't the price skyrocket? Well, do you have a history of telling stories that connect with people's passions, pain points, and aspirations like Nike?
When you think of Nike, do you think of a shirt or do you think of a multitude of athletes, stories, and history in sports? If you don't just think of the product, you are buying into the brand. If you only think of the product, the brand isn't strong enough yet to command a higher price point.
Take a moment to think about your favorite brands. What do they make you feel? Chances are, they've managed to create emotional connections with you. Before you ever bought that product, you probably watched a commercial about it that told a story, you saw your favorite athlete wearing it and you wanted to be like them, or you were influenced in some way to feel connected with it. This might make you say, but isn't that just marketing?
Well, it's a mix of marketing and branding. Before marketing ever happened, a team sat in a room and wrote down what they wanted you to feel. How the commercials should look, what emotions would be evoked, and then they came up with a commercial and set it at a time that you would probably watch it.
And it probably didn't happen just one time. Maybe you saw a commercial one day after the Super Bowl, then you saw an ad online, and then one of your favorite athletes posted they were going to a competition and in the photo, the main sponsor was that same company. The process happened again and again until you trusted and felt a sense of belonging with that company, its products, the events it helped support, and the feelings surrounding those products. It became an extension of who you are or who you want to be.
Whether it's the nostalgic feeling you get from sipping on a certain soda or the sense of adventure associated with a particular outdoor gear brand, strong brands are incredible at evoking emotions that keep customers coming back for more because it's an expression of who they are. And many times that is with providing value and intentional storytelling to ideal customers. This infuses your products with your brand's values, personality, and story, creating powerful connections.
In today's crowded marketplace, standing out from the competition is more important than ever. People have choices. And usually, the price will be the first thing that separates what people choose. The next is reviews from other people because it establishes trust. But if you have a strong brand, that at each touch point is consistent, you can be people's first choice because they've already formed an opinion about you and feel trust built based on what you encourage them to feel, and that is powerful. And more than powerful, it's profitable.
So, sounds simple right? Well, simple enough to understand, but can be a little harder in execution. But you can do this. Show up for your customers not only intellectually, but also emotionally help them feel less alone in this world, and watch your profit margins rise and rise.
