What Makes Customers Love Their Favorite Brands?

There’s a reason consumers fall for brands like Starbucks and Virgin, and it’s not what older companies might think. While brands like these may not always offer the best products available, they have something that many others lack: brand transparency.

Companies like these are able to create authentic brands that bring a human component to the corporate world. The rise of social media has exacerbated the desire from consumers to connect with the brands they love on a more personal level. In the age of texting and Twitter, customers are increasingly looking for companies that have defined the “why."

How can companies with strong products leverage the “why” power and bulk up their brands?

One way is by pairing a recognizable face with the brand. Many online celebrities, such as Vine persona Jerome Jarre, are able to charge a great deal of money simply by endorsing the brands they love. Famed businessman Richard Branson has leveraged his personal brand in order to bolster the success of his companies, such as Virgin Mobile. Companies that have a personable and recognizable face to accompany their product can connect with consumers on a more personal level.

Firms looking to strengthen their brand should also worry less about advertising their features. Often many products in a category offer relatively similar features, and it is a backstory rather than the hypothetical “20 percent more” that consumers crave.

Finally, companies that want to really wow consumers and make their brand stand out need to be willing to take daring risks. A company that takes a daring risk and succeeds can expect instant good publicity. For example, the company Buffer has wowed consumers by making their income reports and salary information public. While not all companies need to follow this “open book” policy, taking greater risks can surprise and thrill customers and often win over loyal fans.  

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Nick Banks

Nick created Front Street Commercial Real Estate Group in 2002 and spent the first eight years developing and acquiring office and retail projects in South Florida as well as North Central Florida. In 2010 the focus of the firm was shifted to primarily serve third party clients and perform brokerage, property management and mortgage banking functions. Nick has personally developed and acquired nearly 200,000 square feet of office and retail properties in markets throughout Florida. Prior to founding Front Street, Nick was the Director of Finance and Dispositions for Stiles Corporation in Fort Lauderdale where he financed and sold over $500 million in commercial real estate. Before joining Stiles, Nick was an Associate Director at GE Capital Real Estate where he sourced over $200 million in financing throughout Florida. Nick is a graduate of the University of Florida with a degree in Finance and a concentration in Real Estate. He serves as a board member and current vice-chair for the United Way of North Central Florida where he also chairs the Development Committee. Nick is actively involved with the Gainesville Area Chamber of Commerce where he serves as a board member and committee member for the Council for Economic Outreach. He is also a recent graduate of Leadership Gainesville which is a year long leadership program hosted by the Chamber. He is a member of Grace United Methodist Church where he has served as finance chair and as a member of the leadership council. Nick serves as an advisory board member of the University of Florida Bergstrom Center for Real Estate Studies. Nick was recently named chair of the Gainesville committee for the North Florida chapter of Urban Land Institute (ULI). He is a licensed real estate broker in the State of Florida and is a long time member of the International Council of Shopping Centers.

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