What is love? It’s a word that can be used flippantly, other times it’s one of the hardest to say. Aside from friends & family, most of us have objects or possessions that we also say we ‘love’. Usually something that we enjoy using, looking at or experiencing.
But what about brands? Can you really love a brand? Or is it just a fickle term for something making life easier, or that little bit better. It's something business has a deep interest in, & that’s not surprising when you realise the commercial value love can bring.
According to Forbes, emotionally bonded brands generate three times more word-of-mouth coverage, while KPMG Forrester states that loved brands grow nearly 3x faster. Love creates loyalty, leading people to pay 86% more and make repeat purchases.
The 'love-brand' concept emerged from the advertising industry in 2005 when Kevin Roberts, former CEO of Saatchi & Saatchi, developed a brand ranking based on consumer respect and love. Since then, an industry has formed around measuring and reporting on brands' success in winning customers' hearts.
Savanta's BrandVue's 2023 Most Loved Brands report crowned Amazon as the No.1 brand for making customers' lives easier, with Aldi UK joining the top 10 for consistently low prices.
Talkwalker's most recent Love Brands Report found sustainability key to consumers in 2022. ASICS Corporation were ranked No. 1 generating love through collaborations & sponsorship.
NetBase Quid® 2023 Global Love List ranks Spotify as the top loved brand, with consumers across the board valuing authenticity, innovation, and social responsibility equally.
But lets focus now on #Automotive. Sure Cosmetics & Luxury Appeal brands excel because they are used every day. They can be shown off & shared online. But why do Automotive brands score so much lower?
BrandVue rated Automobili Lamborghini S.p.A. #72, Rolls-Royce #79, Porsche Cars GB Ltd #81 in the UK. TalkerWalker globally rated Chevrolet #28, Mercedes-Benz AG Benz #33, Alfa Romeo #36, Volkswagen #37 and Hyundai Motor UK #43. Netbase rated Ferrari at #2, Porsche Leipzig GmbH at #18, BMW Group at #37 across all regions.
As someone fanatical about automotive, I’ve seen the love that exists amongst enthusiasts with the factory supported clubs (still a bit male dominated) but I’ve also been amazed by how uninterested at a ‘business level’ many other brands have been in the past.
So I was delighted to experience brand love in person at Le Mans Classic. We happened upon Alfa Romeo’s second #TribeDays event. Wow! We were welcomed to true brand hospitality amongst passionate fans from all over the world.
Oh, & great pizza & expresso too!
This is a brand that truly understands love. Whether in the UK inspiring #Alfisti with a new younger Alfa Romeo Owners Club UK & Ireland called #Ragazzi, its #F1 motorsport or this global initiative to encourage more to join the ‘Tribe’ by offering incredible brand events.
Thank you, Alfa Romeo, the love is real.
At We Are Acuity we’ve huge experience of helping global and national brands build local brand love. If you are an ambitious bricks & mortar brand looking at getting a competitive edge, and need some marketing support on how to maintain your brand, activate it at local level and engage your outlets in your campaigns, get in touch with We Are Acuity today for a FREE marketing audit by clicking HERE.
Or if you'd like to read more about Local Marketing have a look at our blog page "Local Thinking': https://www.weareacuity.com/local-thinking-our-blog