The Club You Can Buy Into: The Hidden Power of Iconic Brands

Transcend, go beyond the norm, to be remembered and favored by history. Some people achieve this, some brands too; they mean much more than just a name. They evoke feelings, memories, and ways of life. These iconic brands are the ones that stand out. Their names are more than just labels. "Louis Vuitton" isn't just a name; it's a status statement.

With a great cultural influence, intense emotional connections, and a lasting impact in their industry, these iconic brands create a powerful and enduring legacy in the market. Why is this important? Because it allows them to leverage their brand equity to drive revenue in ways that the brand of milk you buy at the supermarket could never.

But the question is, what are these companies selling? Do they have a secret formula that no other competitor could ever imitate? What are they offering you? 

Let's continue to explore the subject with Louis Vuitton as an example. This French company offers products that are undoubtedly exceptional in quality, superior craftsmanship, and design, but what really makes them different is the brand's historical association with luxury, status, and exclusivity - something consumers are well aware of-. All of this has been achieved by a consistent and carefully developed brand image, identity, and communication.

We all are social beings with a programmed desire to form part of something bigger than us, but we are all different; not all of us want to join the same Thursday night book club; we want to be part of what's relevant for us. When a customer buys from a particular retailer, or more over, a specific brand, they are purchasing, in reality, the ticket pass of being part of the club they want to join. They're buying into a lifestyle, a sense of community, or a sense of belonging.

When you buy from Louis Vuitton, you are not merely exchanging money for a product but buying into a promise. One that goes beyond the physical product to include status and identity, which are highly valued in some cultures. For example, MoneyWeek reported that 92% of Japanese women own Louis Vuitton handbags. Unlike companies that offer only A (product/service) for B (money), iconic brands offer much more elements that add perceived value to the exchange.

As marketers, we must ask ourselves: Is our product or service there to just fulfill a need, or does it offer something more? Can we create a brand that stands out, making it into something meaningful and of higher value? By understanding what the target audience looks for, we can craft compelling storytelling that, through consistent communications, can transform our brand from a mere product on the shelf into a cultural icon.

If your brand isn't telling a story that resonates greatly with your audience on an emotional level, you're leaving considerable value on the table. You should elevate your brand from a simple product to a symbol of the values and attributes your target audience aims for; the end of year financial statement will thank you. -Gianmarco Chiesa-

Source X: https://x.com/LouisVuitton/status/1594020176319873024

The ideas and perspectives expressed in this article are my own and do not necessarily reflect the views of any organization or entity with which I am affiliated.All brand names, logos, and trademarks mentioned in this blog are the property of their respective owners. This blog is not affiliated with, endorsed by, or sponsored by any of the brands mentioned. Any opinions expressed are my own and do not reflect the views or opinions of the brand owners.