In the News
Brand or get branded
Many business owners think they “don’t need a brand.” This is unfortunate because they have a brand whether they’re aware of it or not!
Your brand is people’s gut reaction to hte experience you offer. If you just focus on getting by, people aren’t likely to be loyal to you and will wander over to your competitors.
If you can provide a compelling brand experience, you build a base of fans who evolve in “brand evangelists”—those who go out and actively promote your business as the cat’s pajamas.
How to get started?
- Make two lists. One contains words that describes your company’s current personality; the other describes the company you want to be. Note the differences and devise a game plan to close the gap.
- Review your marketing materials. Do your logo, website, brochure, business card, and blog all work together to create a cohesive look that reflects your brand experience? If not, it’s time to redesign
- Get your employees on board. As we noted in our March issue, great brands are built from within.
This month’s winner: Drake Spaeth!
Our VisoVerbo champ wins a digital print featuring this one-of-a-kind design. Have a favorite quote or saying? Send it in! If your quote is chosen, you’ll receive a digital print of your custom design suitable for framing! Check out your competition here.
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Are customers like lab rats?
In experiments during the 1930s, researchers found that animals tended to work harder as they got closer to a reward. This phenonmenon is known as the ungainly named “goal gradient hypothesis.” New findings show that the same concept applies to customer loyalty programs.
Research at Columbia and Fordham Universities found that consumers in a coffee loyalty program bought coffee more frequently the closer they got toward earning a free cup of java. Another study found that Internet users who received reward certificates for rating songs rated more songs and visited the website more often as they neared their goal.
Customers in loyalty programs speed up their product consumption as they get closer to getting their reward. Experiment with your offers to help improve your uptake.
Source: The Goal Gradient Hypothesis Resurrected