Perhaps it should...
As I was taking my car through the local car wash the other day, my mind started to wander (what else is there to do as you inch your way up to pay). What I noticed was a surprising number of bumper stickers on each of the cars in line.
Taking note that day,and the past few days since, I found that only certain brands and companies possess a consumer allegiance strong enough to be considered a “Bumper Brand” – that is, a Brand that people care about enough to defile their second largest personal investment (their car) with a permanent sticker on the back.
Now, if you pay attention to this curious phenomenon you will observe that most stickers are for college alma maters, music groups, sports teams or political candidates.
However, you may also note that a few, select consumer brands have broken into this glorified circle of emotional connection brands.
Some of the top “Bumper Brands” include Nike, Apple, and even the Disney characters. And, as you study these brands, you will note that in addition to having strong consumer affinity in common – they are also brands that possess higher than average profit margins in their sector.
For several years, I led one of these “Bumper Brands” on a global basis – Hot Wheels. Of course, that brand had a natural alignment with car culture, but I would also suggest there were other common attributes that Hot Wheels shared which made it a strong “Bumper Brand” when many of it’s key competitors were not.
So, what are some of the key attributes that make one Brand command such a loyal following, while other bigger, or more established brands in the same category, do not.
Let’s explore 5 key strategies you can immediately implement to increase the likelihood of your brand becoming a “Bumper Brand,” and therefore delivering higher than average profit margins.
1) Create the Connection: It’s easier to create an emotional connection with your fans, when they have a personal history with you (e.g. sports brands). However, there are several strategies that you can use to create a strong emotional bond between your brand and its most fervent fans. For example, Monster energy drinks has done a tremendous job leveraging its association with extreme sports to make people care about the Monster brand.
2) Refresh Religiously: This is one of the key components of music brands as they constantly tour and put out new albums. Most brands have a certain cadence to their business, and therefore a consistent calendar of new product introductions. In addition to this however, you can leverage social media to let your fans create a dialogue around and about your brand. For example, check out what Coke is doing on Facebook (http://www.facebook.com/cocacola).
3) Be the Best: Do what you do better than anyone else. People put Air Jordan stickers on their vehicles years after Michael retired because he was recognized as the best at what he does. This also requires you to decide what NOT to do. Apple is a great example here as their company tagline for some time was “Be Different.” You may not appeal to everyone with this strategy, but those who choose to align with you will do so with more passion.
4) Stand for Something: I’m not sure political candidates can serve as an example here, but clearly political parties do. Or, think about the band U2, and the political movements they stand for. Their commitment to values has led to a legion of fans that support the band around the globe in record numbers.
5) Be a Do-Gooder: If you dig deep into your company DNA, and understand clearly what your unique selling proposition is, there is a high chance that you are doing something good for the world. Put a laser focus on this aspect of your business, and see the business results it can deliver. Consider Southwest Airlines (one of the world’s most profitable airlines, which posted a profit for over 35 years in a row) and its core belief that they exist to “Democratize the Skies.” If they were to go away tomorrow, many fans would miss them for this “good” they bring to society.
While this is not meant to be an exhaustive list of how to make your Brand shine, it should give you some good thought-starters around ways to connect your brand with it’s fans more closely.
If you do it right, you will soon be “driving” record sales and profits – and who knows, perhaps in a couple years your website can be selling bumper stickers that turn your most loyal consumers into advertising “vehicles” on a daily basis!
