Download Identity Loyalty - The Enrollment Management Association Annual

Identity Loyalty
The Key to Creating a Brand and
Fostering Deep Connections with your
Admission Stakeholders
9 / 17 / 2015
Dr. Americus Reed, II Ph.D.
Professor: Wharton School of Business
Partner: Persona Partners LLP
Part 1:
An Introduction and example(s) of the power of Brand Associations
•
Key Point(s) – What does a “Brand” do?
Branding…
…creates a rich, consistent and clear meaning
system that defines what the brand stands for.
•
Good Branding…
…differentiates from competitors and connects
consumers to the brand creating loyalty.
•
Great Branding…
…connects in a way that consumers internalize the
brand as an expression of who they are or who
they want to be. Identity Loyalty
Part 2:
The Case for why you should re‐examine your firm’s Brand Building Strategy
WHICH ONE WOULD YOU CHOOSE?
A strong Brand makes you stronger
when its brand promise reassures you
1Park, Ji
Kyung and Deborah Roedder John (2014), “I Think I Can, I Think I Can: Brand Use, Self‐Efficacy, and Performance” Journal of Marketing Research , LI, 233‐247.
CAN YOU BELIEVE IT?
EXAMPLE from MSN Money
http://video.msn.com/
What is a brand worth?
Part 3:
Introducing the Powerful Concept of Identity Loyalty
The Typical Approach to Product (Feature) based marketing can be strengthened by putting the consumer’s identity center stage (The Why)
“….People don’t buy what you do they buy why
you do it……”1
“……The traditional question of how can I convince consumers my product has superior features is wrongheaded. It focuses on "What" and reflects a transparent attempt to sell a product. However, the question of, ‘WHY would my customers use my brand to define themselves?’ is deeper. This question reflects alignment of a consumer's identity with what the brand stands for…..”2
1Sinek, Simon “How Great Leaders Inspire Action” TED
2Reed II, Americus “Why Apple Fans Will (Almost) Always Defend Them.”
External factors are not enough. Smart brands connect to us internally through a dynamic called Identity Loyalty
Identity loyalty is when the values and ideals of the brand
are perceived by the customer to be in tune, or aligned
with their own to the extent that the brand comes to
represent the self and the self represents the brand.
Identity Loyalty manifests in 3 very distinct behaviors that signal a deeper connection and alignment with the brand
1. Customers voluntarily become willing brand
ambassadors
2. Customers are willing and do pay more despite having
more affordable options
3. Customers vehemently defend the brand
Anecdotal Evidence of Identity Loyalty
Quantitative Evidence of Identity Loyalty
Emotional Attachment with Brands Predicts Brand Loyalty and Acceptability of Price Premiums
1Thompson, Matthew, Deborah J. MacInnis
and C. Whan Park (2005), “The Ties That Bind: Measuring the Strength of Consumers' Emotional Attachments to Brands,” Journal of Consumer Psychology , 15(1), 77‐91.
Brand Attitude Strength is separate from and weaker than
Identity Loyalty in predicting Devotion Behavior
1Park C. Whan, Deborah J. MacInnis, Joseph Priester, Andreas B. Eisingerich and Dawn Iacobucci (2010), “Brand Attachment and Brand Attitude Strength: Conceptual and Empirical Differentiation of Two Critical Brand Equity Drivers” Journal of Marketing, Vol. 74 1 (November 2010), 1–17.
Relative Perceived Value of the Product is a WEAKER Switching Barrier than Customer Brand Identification—which even gets stronger over time
1Lam, Son K., Michael Ahearne, Ye Hu and Niels Schillewaert (2010), “Resistance to Brand Switching When a Radically New Brand Is Introduced: A Social Identity Theory Perspective” Journal of Marketing, Vol. 74 (November 2010), 128–146.
Conspicuous Brand usage hurts the brand only for those w low Self‐Brand Connection
Who attribute the display to impression management
1Ferraro, Rosellina, Amna Kirmani and Ted Matherly (2013), “Look at Me! Look at Me! Conspicuous
Brand Usage, Self‐Brand Connection, and Dilution” Journal of Marketing Research,
Vol. L (August 2013), 477–488.
Part 4:
The Steps to Strategically Assess your Customer’s Identity
Consumers have many Identities
•
•
•
•
The self has different components,
or identities, that are active at
specific times.
They cause us to prefer different
products and services.
Some of the identities are more
central than others (i.e. husband,
boss, student, athlete).
Other identities may be more
dominant in certain situations (i.e.
stamp collector, dancer, volunteer).
Use Clustering Methods to Create Identity Dimensions
and Connect them to Identity Loyalty and Product
Feature Preferences
When you misalign your brand identity with your customer’s identity you goof up
Part 5:
The Steps for how to Strategically Assess your Brand’s Identity
Define what the brand seeks represent
The Best Way to Diagnose your Brand’s Identity
Conduct an Identity “Audit”
• As a Brand Builder—what is your brand’s narrative?
• Is it?
– Clear
– Consistent
– Well-differentiated
• Where does your brand identity “touch” your consumers? In what aspects
and in what ways of their day to day activities?
• How often do you think about your brand as a way to help make decisions?
Part 6:
The Steps for Nurturing Identity Loyalty
Step 1: Proactively Communicate your Brand’s Identity
Step 2: Fiercely protect your Brand Identity
….Invite customers
to join in
Step 3: Be genuine and authentic
The Brand’s Identity has to have credibility
Step 4: How your audiences are responding to your brand
Do the research needed to understand your target audience
Step 5: Look for Meaningful ways to express your Brand’s Identity
Step 6: Use established and well validated tools from the literature
Identity Loyalty is the goal that we as brand managers
seek to achieve. There are no short-cuts.
Step 7: Always “be thinking” about the next phase of your Brand’s Identity and How it aligns with Your Customer’s Identity
FINAL CRITICAL TAKEAWAYS
•Collect (BIG and Small) data on your customers at every
opportunity—USE IT!
•Use real customer data to develop the brand narrative
•Repeat purchases imply but do not guarantee loyalty
•Identity Loyalty relies less on external switching costs and more on
internal switching costs (abandon values, core principles, self notion)
•Depict your customers engaging with your brand in ways that they
want to see themselves engaging with your brand (Apple, Starbucks,
Ford Trucks)
•Maintain authenticity or your efforts in Identity Loyalty will go
unrewarded
Thanks for your time
• Contact Information
Dr. Americus Reed, II
[email protected]
[email protected]
Cell: 267-225-Reed (7333)