By, Christine Johns
Generosity. It’s a win-win strategy. It’s the dynamic that occurs when one person gives selflessly to another, based on a mutual understanding of the relationship. Both parties benefit from the affinity which results, and hopefully, a lasting bond of trust is formed.
Who doesn’t love the thought of everybody winning? When it comes to your brand, you can’t afford to be insular and self-absorbed, especially in an age where loyalty and outcomes are the primary drivers of your audience.
Consider these statistics:
- 56% of consumers said receiving a personalized incentive would improve consideration of the brand
- Personalization is a higher priority for driving loyalty for Generation K (54%) and Millennials (52%), than it is for Generation X (48%) and Baby Boomers (40%)
- Value for money is a more important loyalty driver for Baby Boomers (70%) and Generation X (70%) than it is for Millennials (65%) and Generation K (61%)
- While general purchases are driven by price (81%), quality (80%) and convenience (55%), loyalty is about likeability (86%) and trust (83%)
The ever-shifting nature of consumer sentiment suggests that loyalty is instinctive and driven by emotion. Your audience connects positively with your brand when they can share personal values and the experiences created from that connection.
So how can you infuse the spirit of generosity into your brand in a way that delights your clients/customers and adds value to their lives?
- Consider giving away free (and valuable) content. This risk-free approach is one of the easiest ways to be generous, especially for people who are just learning about your brand. For example, I’m writing this blog post because I believe this is a topic that creates a pinch-point for some of you, and I’m motivated by a sincere desire to help. You can create any number of resources to engage your audience and foster interaction. Just make sure it’s something they care about!
- Go the extra mile. It’s tempting to offer promotions and discounts off your product or service, but you run the risk of losing respect and possibly a purchase. Why not try to enhance your offer by adding value? Add a little extra “something special” or “just because” to an already great product or service, and you may find your prospect base growing.
- Give back. No, you can’t save the world, but you can impact your corner of the world by making your values tangible for your clients and customers, who are looking for a genuine social commitment. It can be as simple as asking staff to volunteer to aid a family in need, or donating proceeds to a local charity. These efforts will not go unnoticed as you seek to building a lasting bond with the people who matter to your business.
Becoming a more generous brand connects you emotionally to your client/customer base. When people feel good about the power of giving, they will feel good about your brand. This creates positive PR and can increase commitment among your employees. Now that’s a win-win!