Building Your Bond - not Brand.

HOW STRIVING FOR BRAND INTIMACY OVER BRAND LOYALTY IS BETTER FOR BUSINESS.

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Establishing and nurturing client relationships is no longer a “nice-to-have” option for your business - it is becoming an expectation from the consumer.

While building brand loyalty is nothing new - it turns out that striving for brand intimacy seems to be much more fruitful for business these days. A recent study by a New York City-based agency, MBLM, found that people will pay more for brands that they feel emotionally close to.

I believe that the current shift in consumer values, along with the ease of starting a business, combined with the power of social media has started to level out the playing field in the fight against David and Goliath. Yes, big corporations tend to have more money, team, and collective energy to put towards fostering these intimate relationships, however, I think it’s the small businesses who have the upper hand.

Using their size as their advantage, small businesses are nimble and can adjust to the ever-increasing speed of the market quickly, while also having direct access to their community. They don't have to jump through the red tape to have a genuine conversation with their customers and they can test new ideas before investing or launching in them.

It was in “The 4-Hour Workweek”, where Tim Ferriss talked about how the most successful published books are no longer written by an author hidden away in a cabin, only to reappear when the entire novel was finished. The chances of a book doing well increase exponentially if the audience is a part of the process. Share a little, test ideas, and go back to the drawing board. Share a little, test ideas, and go back again. Small businesses can do this too if they keep the relationship with their audience top of mind. Before making any huge changes or big investments, share a little, test ideas, and go back to the drawing board. This is all very general and the work involved will look different depending on what stage of business you are in.

While my biggest takeaway from this study was that brands of all sizes can score highly and compete on a level playing field - it’s also extremely important to know your consumer and their motivations. I will dive a bit deeper into the study below, offer examples and tips on how to get started with your client relationships.

The 6 Archetypes of Intimacy

The study surveyed 3,000 consumers about their relationships with 100 brands across 10 industries. It goes into the effects of the pandemic, details regarding the scoring system as well as the “stages of intimacy". The study found 6 common patterns that were consistently present, in part or in whole, among intimate brands that identify the nature of ultimate brand relationships.

I have broken down the 6 common patterns below to help share a few examples for you as you think about how to cultivate your own customer relationships.

Sophie Downs does a great job analyzing the study in this article with Inc. While my biggest takeaway from this study was that brands of all sizes can score highly, another great takeaway is that there is no “right” approach to this.

If you don’t know where to start, think of your brand as a relationship rather than a logo. Start to take into consideration the emotional motivations that are linked with the buying behaviors of your customers/clients. Go back through your customer journey and evaluate the touchpoints that you have in place and ask the question:

How does this foster the kind of client relationship I want to have?

If you feel like you have more questions or are interested in learning more about understanding your audience, click here to continue the conversation.

All the Best,

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