In today’s Business Beat, Jeff discusses the 2022 brand intimacy survey by MBLM and why it’s important to have an intimate brand.
Tune in to today’s Business Beat to learn the top 5 intimate brands:
Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.
Are you an entrepreneur with a great story to share? If so, contact us at [email protected] and we’ll feature you on an upcoming segment of the WJR Business Beat!
Good morning, Paul!
One of the most powerful things a company can achieve is to achieve a brand that’s known as an intimate brand, that being one that consumers have a really strong emotional connection to. Now, does it really matter to have an intimate brand? Well, you bet it does. In fact, the brands that proved to be the most intimate are those that consistently outperform their market sector as measured by profit, revenue and stock price.
And each year, brands are rated for their success and achieving that objective in what’s called a brand intimacy survey. That’s conducted by MBLM. They’re a company that studies the emotional science behind well-known brands. How do you determine that a brand has a strong emotional connection?
Well, here’s how you do it, according to MBLM. You focus on these six factors: one, fulfillment, the brand exceeds expectations, delivering superior service, quality, and efficacy. Two, identity that reflects an aspirational image or admired values and beliefs that resonate deeply; three, enhancement, the brand is effective at delivering its promise value. Four, ritual, a brand that becomes ingrained as a part of daily existence. Five, nostalgia. That is, does the brand create strong memories of the past, and six, indulgence, the level of gratification from what that brand provides.
So who, according to the MBLM 2022 survey has those strongly intimate brands? Well, No. 5, it’s YouTube. No. 4, Sony. No. 3, Apple. No. 2, Tesla, and coming in at No. 1, it’s Disney.
Want to make sure your brand is working for you? Well, focus on the six components that MBLM believes are those critical to achieving a strong, emotional connection leading to your company doing more business.
I’m Jeff Sloan, founder and CEO of startupnation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
