Creating a Brand Pyramid
The brand pyramid is a useful tool when you’re creating your company’s initial or ongoing marketing strategy. A company’s primary goal should be to get customers to the highest possible level of the pyramid for maximum loyalty and profit.
Brand Pyramids outline the following stages that customers go through when building loyalty to a brand, product or company service:
Presence and Relevance (levels 1 and 2) lay the initial groundwork for building awareness for your brand and company. At these levels, there is no emotional attachment to your brand. Your marketing materials should simply focus on price and value.
Price is one of the most important factors in these levels. If a customer is in this stage, they may not try your product if the price is too high. At the same time, if the price is too low, the customer’s perceived value of your product and service may also be low. Having the right price is crucial to getting customers inside the door of your business.
In level three, Performance, it is important to show that your brand is of higher value than your competitors. In this stage of your marketing, you should be emphasizing benefits of your product vs. their actual features.
In the final two levels, Advantage and Bonding, you must communicate additional advantages to your brand that will keep your customers coming back for more. It is in these stages that your customers finally have some emotional attachment to your brand.
In turn, your marketing efforts should look to capitalize on these emotions. The more excited and attached to the brand customers get, the more likely they are to recommend it to their family, friends and professional circles. This is ultimately why businesses who have a personal connection with their customers tend to be so successful.
To find out more information about creating and building your own brand pyramid strategy, check out: heartifb.com.