sell your values first and products second
Roy Spence, is the author of the best-selling book, ‘It’s Not What You Sell – It’s What You Stand For’. In his book, Spence postulates, and indeed substantiates his view, that the values of a business are more important than the qualities of the products they sell.
I would argue that the values of a business are, in fact, a part of the product they are selling and, indeed, an increasingly important part. Consider the following research findings:
• 43% of consumers have changed brands due to a lack of trust
• 56% of consumers respond positively when a brand ‘gets’ them
• 37% of consumers show loyalty to brands that actively support shared causes
• 65% of consumers are attracted to a brand they believe cares
• 79% of gen z would engage with a brand that could help them make a difference
• 89% of consumers are loyal to brands they believe share their values
The fact is, research demonstrates time and again that brand loyalty is very much about values. In fact, it is often more about values than product qualities. Indeed, research suggests that once a match of values is established, a process of rationalisation and justification occurs. This results in increasing satisfaction with the product, almost regardless of its qualities.
Of course, the values that are important will vary from target market to target market, and understanding the values of the primary target market is central to effective branding. This is a tenet of marketing and branding well understood by Apple, Zara, Ikea and other great brands.
Sell your values first and products second
Sources of core statistics – HBR, ACCES, CONSUMER TERMOMETER, ACCENTURE, ICSC, CMO
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D. John Carlson – Adviser and Speaker – 0402 273 350 or firstname.lastname@example.org .