For companies smart enough, and lucky enough, to sustain a strong brand — that brand is a gold mine. For a great brand, customers will drive the extra mile, pay the extra dollar, and refuse to consider lower-priced “me too” offers from competitors.
But what is it that commands this kind of loyalty? The answer is simple: customers are loyal to great brands because those brands deliver great experiences. As it gets harder and harder for companies to stand out through unique product features or technology, strong brands consistently provide distinctive, high-quality customer interactions that low-cost competitors cannot easily duplicate.… Read the rest