Love builds brands. What builds love?
Brands need love. In fact, the ones with loyal fans saw an 191% increase in value growth in the past decade. Brand love is manifested in powerful ways: from camping out for the new iPhone to wearing and even tattooing logos onto our skin.
Love is what takes a brand from good to great, from awareness to affinity, from buyers to followers. That's why we, at Oath, study brand love.
In a study we carried out in late 2017, we took a global sample size of 150,000 consumers across 13 markets, and looked at how data can be used to better understand and nurture the intangible.
The 6 drivers of brand love and Hong Kong’s finding
Human love requires Intimacy, Passion and Commitment while Brand Love requires Emotional Connection, Function and Bonding. Brand Love has a functional element to it which makes it distinct from human love.
For industries and generations, we found that brand love is driven by 6 brand behaviours. In general, brands that Exceed Needs, Build Trust and Set Trends reap love in Hong Kong. (Percentage in bracket indicates the Hong Kong findings)
Exceed Needs (26%) - do something no other brand does, or do it better; and give consumers what they want before they ask.
Build Trust (19%) - get personal with customized experiences that build a foundation of trust.
Set Trends (17%) - disrupt, innovate and keep consumers excited about what’s next.
Share Values (14%) - establish core beliefs, then act on them to make the world better.
Respect Consumers (14%) - consistently demonstrate fairness and reliability; and engage with consumers in meaningful, personalized ways.
Elevate Experiences (10%) - key to brand loyalty; make every interaction more creative, thoughtful, and impactful.
Men in Hong Kong exhibit slightly more love for brands that Elevate Experiences and Respect Consumers.
Women in Hong Kong lean towards ones that Exceed Needs and Build Trust.
Among different age groups,
Younger Generation tends to love brands that can be Trend-Setters and provide Exceed Needs.
Matured Segment prefers ones with Share Values and Respect Consumers.
Base on the varying industries in Hong Kong, some industries are more unique.
Retail brands that Exceeds Needs and Builds Trust gets more brand love.
Communication Sector should aim to be Trend-Setters that offer Elevated Experiences.
Health & Beauty brands should work towards Being Trust and Share Values.
Apparel brands that Respect Customers reap more love.
Automotive labels that provide Elevated Experiences gain the most followers.
How to build brands people love with Oath
With a fundamental understanding of why consumers love brands and the 6 brand behaviours, marketers can align their strategies in a way that builds on each driver of love. There are 5 things marketers can do and for each of them, Oath provides concrete solutions to help your brand sustain, standout and continuously brand your brand.
1. Outperform and overdeliver
We, as consumers, follow our hearts, but only to a point. So, before building on the consumers emotions, a brand has to fulfill that functional base. In other words: do you bring the best in quality, performance and design?
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People want to be seen using brands that share their values. And, while they want brands to care about issues, they don't need you to get into political. Globally, on average, 67% expect public support for equality and diversity, but only 32% care which political party you support.
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3. Rethink, reinvent, repeat
You don’t have to be in an innovation-obsessed industry for consumers to expect you to set trends. In fact, setting trends is more important for news and media brands than for any other industry. Consumers are willing to go out of their way for–and forgive–brands that innovate in order to elevate experiences.
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There's no love without trust. Consumers confirmed they trust brands they can count on and feel understood by. So get personal. Even one mobile touchpoint makes consumers 67% more likely to trust your brand to use their personal data.
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All 6 drivers of brand love apply no matter who you ask, but each generation has a favourite.
Millennials worship innovation and memorable moments–their love is most influenced by setting trends and elevating experiences. For love from Boomers & GenX, top up on sharing your consumer's values and showing them respect. The 35+ set prioritized shared values 21% more, and respect 38% more, than Millennials did. Talk to each group on their terms to get more brand love from all.
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For more information, please visit www.oath.com/hk/advertising/brand-love/.
For advertising inquiry, please Contact Us.
Source: Oath, Brand Love Index Global Study, 2017; Oath, Flurry Global Internal Data, 2016