Summary
- Your brand is more valuable when you create a strong identity. Look at brands like Nike, which sell $20 shoes for $200. They don't just sell shoes, they sell the feeling of achievement.
- Making an emotional connection with your customers is important. For example, Apple sells $400 phones for over $1,000 because they sell innovation, not just a phone.
- Customers often buy based on their feelings and the stories they hear. Starbucks charges more than $5 for a cup of coffee that costs 50 cents to make because they sell an experience, not just coffee.
- Consistency in delivering your brand experience is key. People come to Disney for a magical experience and often pay more because of that consistent magic.
- Your goal should be to own a feeling, not just a product. Tesla sells the idea of the future, which is more appealing than just selling cars.
- Focus on selling dreams rather than just selling products, and your brand value could skyrocket.
Video
How To Take Action
I would suggest starting by defining your brand's identity. Think about what feeling or dream your product or service can own. Like how Nike sells achievement and Disney sells magic, find what dream your business can offer. This will make your brand more valuable in the eyes of your customers.
A good way to create an emotional connection is to share stories that resonate with your audience. People are moved by stories more than just product features. Consider writing a blog, sharing testimonials, or crafting marketing messages that highlight the journey or the emotions tied to using your product.
Try delivering a consistent experience every time. If you can, make a checklist of the key elements that make your service or product unique, and ensure each interaction with customers includes those elements. Just like people expect magic from Disney, your customers should know what they can expect from your brand every time they interact with it.
Lastly, focus on selling dreams. When talking about your product, emphasize how it will make the customer feel or how it will improve their life. Instead of talking about specifications or technical details, paint a picture of what life will look like after choosing your brand. This can be as easy as updating the language on your website or the tone of your social media posts to reflect the dream you're selling.
Full Transcript
your brand is worth 10x more with these secrets let's look at some popular brands Nike they sell $20 shoes for $200 Apple they sell $400 phones for over 1,000 bucks Starbucks they sell 50 Cent coffees for5 plus dollars so what do these Brands know that other companies don't brand value beats product cost emotions Drive purchasing stories sells better than features experience outweighs price the secret formula is create a powerful identity build emotional connection deliver consistent experience and own a feeling not just a product here are some real examples that prove this Nike they own achievement Apple they own Innovation Disney they own magic and Tesla owns the future stop selling products start selling dreams
