Educational stories can provide customers with a significant amount of value by teaching them something new. Marketers often use tutorials, quizzes, interviews with experts and instructional stories to develop educational content customers can engage with. Providing your customers with valuable and educational content can help you increase their brand loyalty over time.
14. Customer brand storytelling
Using customer stories is one of the most effective brand storytelling methods because it illustrates how a company's products or services can provide real value to consumers. Marketers may share how their products or services helped a customer overcome a challenge or incorporate testimonials from fans who love their brand.
20. The Role of Brands. Explain from customer and firm perspective.
Brands create value for the consumer in many ways. Both in individual and social contexts, spanning functional and hedonic benefits. This ranges from acting as a simple identifier to contributing to and helping to build an identity of the self.
At their most primitive role, brands tell the consumer what he or she is buying. That is, they allow customers to identify and recognize products when they see them. This also allows consumers to repeat purchases that satisfied them in the past.
2 Brands reduce perceived risk
Building on the previous point, brands also reduce perceived risk in transactions. They do this by simplifying consumption choices and establishing trust.
In this sense, brands are not only signals of identification but also a reputation. A reputation made up of both individual experiences and societal consensuses that acts as a shortcut to decision making.
3 Brands are a source of self-identity
Brands are symbols of meaning that are co-created by companies, consumers and communities over time. These meanings are in a constant flux and can express different things to different people.
Apple, for example, may stand for innovation and creativity, Patagonia for responsibility, Soundboks for rebelism and Prada for prestige.
4 Brands fulfill aspirations
On that note, brands also help consumers distinguish who they want to be and where they want to go. In this case, brands are intertwined with individual goals and longings. They help to paint the picture of the ideal-self.
How brands create value is of course not siloed off as the structure of this article may suggest. When any of the above brand roles for the consumer create value, it is to the benefit of both the consumer and the company. That being said, there are functions on the corporate end that are not as explicit outside of the organization.
Strong brands generate profit. This is the number one role of the brand; to generate profit. It is the single most important value creation of brands. If there is no profit, there is no enjoying any other benefits generated by the brand. Neither on the consumer-side nor on the company-side.
2 Brands eliminate risk
Strong brands eliminate risk.
There are effectively two functions of advertising: direct sales and brand building. Direct sales (also known as direct-response, brand activation and performance marketing) are linear. It’s effectively a gas pedal that returns revenue at a certain ratio compared to your hypothetical gas, i.e., the advertising spend. No gas, no sales. Quite a risky situation.
3 Brands are legal instruments
Just as brands act as identifiers for consumers, they are a legal instrument for organizations. That is, in addition to providing visual distinctiveness, brands also designate legal ownership and protect against emulation and other infringements to intellectual properties from copycats.
The brand itself is not a legal term. The legal mechanism is rather embedded to it through its trademarks, copyrights and patents
4 Brands attract and retain talent
Brands don’t exclusively address consumers, they speak to a wide audience of stakeholders. One of which are the people that live and breathe the brand: employees
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