TELEVUTION

Some brands are cultural phenomenona. They serve not just as the counduit to a product or service, but fulfill a deeper, greater need that customers have, one that satisfies a more intangible yearning. In the book Trading Up: The New American Luxury, Neil Fiske and Micheal Silverstein conducted a survey of “New Luxury” buying habits, and categorized those intagibles into:

• Taking Care Of Me: Goods that make them feel better about themselves immediately.
• Connecting: Things that make them feel more attractive, connected, and foster a sense of belonging.
• Questing: Experiences that make the consumer feel like they’re venturing out, and pushing personal boundaries.
• Individual Style: Goods and services that provide self-expression and signaling.

Loyalty initiatives by companies that provide these intangibles can’t afford to follow the traditional mold of rewards, points and unrelated merchandise.  It’s vital that they focus on extending the overall brand experience into their loyalty services and benefits. I call this moving from Transactional Loyalty to Relationship-based Loyalty.