OPERATORS
E017: How Do You Build Brand Equity? A Deep Dive Special With The Operators.
Aug 16, 2023
Trade show booth laughter fuels brand motivation. HexClad's successful brand building and growth. TAM size and the importance of a functional product. Great brands start with superior functional improvement. Investing in functional over fashion. Consistency is key in building a brand. HexClad redefines and dominates its category. Spend less, increase sales. Starting a business in an industry with low scores. Elon Musk's strategy of buying social media network for leverage. Different opinions on brand with a few exceptions. Infer, Lomi, and embracing disagreement.
58:00
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Quick takeaways
- Developing a strong brand with excellent product functionality and appealing design can create an emotional response from customers.
- Consistency in delivering on brand promises and values is crucial for building trust and developing customer loyalty.
Deep dives
Building Brand Equity
Building a brand with strong brand equity is crucial as it provides a defensible moat. In a world where barriers to entry are low and competition is high, brand becomes the most reliable way to differentiate. Developing a brand starts with having an excellent product that serves a function and fulfills a need. Combining functional excellence with appealing design or aesthetics can create a lustful emotional response from customers. By consistently delivering on value propositions and messaging, a brand can engage and build a loyal audience. Audience and customer satisfaction measured by Net Promoter Score (NPS) are crucial indicators of brand success.
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