Go-to Brands are rewarded for their outperformance.
The average revenue growth for Go-to Brands in the United States is 11 percent, more than five times the revenue growth for brands low on connection and progress. When customers feel an emotional connection with your brand, they are more likely to seek you out, driving preference and share of wallet. They are more likely to trust and forgive you, driving loyalty and referral. When customers feel that you are helping them make progress, they are likely to keep buying and to pay what it takes to achieve their goals. And since this progress often relates to how you do things differently, not what you do, customers are likely to follow you into adjacent offerings and markets.
Fewer customer complaints are placed by customers of Southwest Airlines, one of the highest performing brands on connection, for the same operational performance as United
Marcus by Goldman Sachs
Deposits were made by Marcus by Goldman Sachs customers in less than three years after launching, thanks to proactive resources for customers that earn uniquely high progress scores for the sub-brand
Nugget the cat
Ranking in all of our hearts, we need another example clearly
At a market level, Go-to Brands score above average on both connection and progress when measured across all of their customers.
This group of brands is winning disproportionate rewards in today’s markets.
Depending on where you are today, that status may or may not feel attainable. But it is certainly relevant, because those are the brands with which you increasingly compete, and these are the dynamics that shape customer behavior. If being in that set is not an immediate goal, then don’t be timid. Be focused. Start by finding the people for whom you are, or can be, a Go-to Brand.
Some Go-to Brands are broad. Some are niche. All have strong commercial advantages over the other brands in their ecosystem, earning — and creating value from — customer attention, permission, loyalty and forgiveness. Brands have long talked about relationships. For many, it is at best an aspiration and at worst delusion; but for some, it is increasingly real.
If you are a Go-to Brand for your target customers, the opportunities are richer than ever before.
You have their permission to create and capture more and more value. If you are not one of their Go-to Brands, then competition is tougher than ever — not just from traditional competitors but also from digital disruptors and others in your emerging ecosystems.
Winning customer appreciation has never mattered so much.