Study shows: These six factors transform brands into love brands
Brand loyalty is essential to a brand’s success: it makes people wait in line for hours outside a store, always choose the same label when shopping, and proudly wear logos on their T-shirts. The latest Oath study evaluates this phenomenon and identifies the six success factors for brands. The most important one: Brands must exceed consumer expectations to spark their love.
Building a successful brand today is more complex than ever. Various aspects play a role here - but above all, love for a brand is crucial. But how does such enthusiasm actually arise among consumers? And what factors help companies to develop brand love in a targeted manner in order to increase sales in the long term? As part of a global study, Oath and the market research company Kantar surveyed 159,600 people, 20,400 of whom were in Germany.
The results (for the German market) produce the following ranking of brand love factors that inspire consumers:
1. exceed expectations:
What a product can do and whether it meets expectations is the most important factor across all sectors: 32% of respondents value a brand for offering them more than expected. Another decisive factor is whether the products are convincing in terms of performance, design and quality.
2. build trust:
One in five consumers (21 percent) wants to be able to rely on the brand's promises and expects transparency and open communication.
3. innovation and trendsetting:
Brands convince German consumers when they set trends: 20 percent are inspired by brands and enthusiastic about innovations.
4. appreciation for the customer:
In order to be valued and understood as a customer, 10 percent expect a brand to address them personally and in a way that is relevant to them.
5. shared values:
Recognizing themselves in the long-term values of the brand and experiencing the brand offering as a valuable contribution to personal issues is decisive for 9 percent of German consumers.
6. create brand experiences:
Almost one in ten (8 percent) expect their favorite brand to stand out from the competition with special brand experiences.
With the help of these six factors, Oath will in future offer its customers the opportunity to determine a brand's so-called Brand Love Index. "Our new index helps our partners around the world to adapt their brand strategies in order to win over consumers in the long term and deliver what they really want," says Markus Frank, Managing Director DACH at Oath. "The index not only helps to assess brand love, it also ensures that a brand's marketing campaigns and messages drive awareness and purchase intent."
The most successful Love Brands in Germany
In Germany, Lufthansa, DHL and Ikea are among the top love brands. While Lufthansa stands out among consumers for its reliability, DHL exceeds customer expectations and thus creates trust. Swedish furniture retailer Ikea impressed the study participants when it came to "trendsetting". The company achieved the highest score here when it comes to creating special experiences for consumers.
