“I love you.” These are three of the sweetest words – to a brand. Why? Because the data shows brands benefit greatly when consumers love them, compared to when people merely like them. The benefits aren’t purely for loyalty’s sake either – there are real financial benefits to moving customers from like to love.
People love brands for a variety of reasons, including:
- What the brand stands for.
- They provide fond memories.
- They fit/reflect needs, style and tastes.
- They become a part of life you can’t live without.
- They don’t try to make you love them.
FleishmanHillard surveyed more than 200 consumers to better understand the benefits of loving brands:
1. How important are each of the following factors toward moving you from simply liking a brand to loving a brand?
Consumers value brands that understand them and whose values align with their own as very important traits for moving from like to love. Interestingly, celebrity endorsement is only valued by 25 percent.
2. Which of the following have you ever done for a brand you love?
Over half of respondents pay more for brands they love, and they’ll delay a purchase in order to wait for a product from a brand they love – especially relevant to mobile manufacturers when competing models are seemingly released throughout the course of the year.
Nearly 9 out of 10 respondents are more likely to recommend brands they love over brands they like. Also, there is no better friend to have during a time of crisis, as more than 75 percent will defend a loved brand during that time.
More than half (55 percent) would pay at least 25 percent more for a brand they love.