Why do we, as consumers, pay $250 for headphones versus $90 because they are Apple or BOSE?
Or why do we pay thousands for designers clothes made by brand names such as Louis V and Gucci when we can get perfectly well fitted clothes for under 50 bucks that do the exact same job?
Why do we pay $80,000 for a Mercedes Benz, when a Toyota Prius can do the exact same job and get us from A to B?
I mean, if you think about it, there is no logic in these decisions we make, none at all.
So what is it?
Why do we pay so much more for these things?
Well, it’s the power of branding, and more specifically the story these brands tell us.
Mercedes Benz does a truly amazing job of telling the story of luxury and driving excellence.
When we drive a Mercedes it makes us feel a certain way, it says something about it.
It tells a story.
And here is where it gets even more powerful.
The brands that understand the story that their consumers want to tell themselves are the ones who are most successful.
Let me explain.
Steve Jobs understood the world view that people wanted to be a part of something unique, different, edgy and cool.
He told the story of Apple, but structured in a way that would enable consumers to tell their own story through the Apple brand.
So how can we use this in our branding and marketing?
Understand your consumer world view, and the story they want to be part of.
In your product/service align your messaging with the story they want to be part of.
What is the story of your brand?
And why would they want to be part of it?
Once you understand this, you can begin to create movements and tribes.
The concept is the same everywhere whether it is politicians, music artists, religious leaders or business.
When you understand the power of story telling and do it right you go from just advertising to building a brand.
And that’s where the long term gain really is.
Hope you found this useful and cool!