Brands have a habit of focusing too much on product and not enough on experience. I see this happening a lot with fashion. Fashion brands used to create collections of products and then advertise and market around a lifestyle. That doesn’t work anymore. Consumers want experiences. They want something unique and special that adds value to their life.
Restaurants have learned this. Go to Dig Inn or Sweetgreens and you are part of an experience. A great experience lets you become part of a community. It allows you to interact, make your own choices, be a part of the process, and feel good telling friends and colleagues about your what you’ve done. If it weren’t an experience with good product, people wouldn’t stand in line for half their lunch break to get some quality food.
Brands need to come to the realization that truthfully no one cares about their products. Consumers care about the experience. How do you make it interesting for your consumers to connect with you? How do you make them feel engaged with what you are doing, thinking, creating, and producing? Are they part of the process? Would they stand in line for your products because they are excited to tell friends and colleagues about what they’ve gained from you?
Brands that are focused on product and not creating an experience for their consumers are racing to the bottom with price. Let’s be crystal clear–discounts and promotions are not an experience, and consumers aren’t transactions. Brands have to move beyond creating a lifestyle to creating an experience. Your brand is only as good as the experience you give your fans.