Hey there, business owner!
How can you stand out when there’s so much noise in the market in this day and age? Take the fast fashion industry, for instance. Why should customers be loyal to one business when there’s so much choice and variety?
What is brand equity?
Besides the obvious factors like ‘price’ or ‘quality’, there’s actually this intangible value when it comes to your business – and that thing is brand equity. Brand equity has nothing to do with your product or service. It is the value derived from how your customer perceives your brand. If you’ve got this nailed, you’ve got your customers hooked. Powerful, right?
Here are the top 3 brands that I love, and why I think they do marketing right.
1. UpBank
Who are they?
UpBank is one of Australia’s neobanks backed by Bendigo & Adelaide Bank. Targeting millennials, their entire banking experience is seamless. I refuse to change banks even to get a higher interest rate simply because the service, the in-app user experience, and the online community this bank has created are impressive.
What do they do well?
UpBank offers a plethora of features, including budget trackers and automated pay splitting, alongside bright and quirky brand colours, and best of all, a super-responsive customer support team who loves seeing pictures of your dog. What’s not to like?
What really sets UpBank apart from other trendy neobanks is its Facebook community group, where customers can provide direct feedback to the UpBank team. UpBank also adds financial inspiration by gamifying the online banking experience with a personal savings scorecard game. There’s also a snazzy orange bank card to go alongside.
These guys also share a lot in common with us here at Yoghurt DIgital – they’re in love with data. UpBank offers customers a yearly snapshot of their spending habits (similar to Spotify’s Yearly Wrap). They also give out random acts of free coffee with their Perk Up initiative (hello, sign me up).
Unlike most other banks with their lack of transparency, UpBank is open and honest about everything. On their website is an easily accessible treemap showcasing their entire suite of product features & launches. Seriously, what’s not to love?
Fav marketing campaign?
Okay, you can’t cringe too hard when I mention this. Is there really a better way to reach millennials and youngins’ through any social media platform other than (I bet you already guessed it) TikTok? As one of the first-ever businesses to partner with TikTok and launch a Gamified Effect, the banks’ #UpEasyMoney Challenge gives anyone on the TikTok platform the opportunity to play a 30-second game munching as many fake coins as they can to potentially win a real $1000 cash prize. The campaign generated 25 million views and 250+ relevant pieces of user-generated content. Talk about Wowza.
Key takeaways?
Let’s be real, banking and bank accounts aren’t fun, especially for UpBank’s target market – millennials. But somehow, UpBank has transformed the entire experience and perception of banking by instilling trust & confidence within their customers. Not only did they create a community, they really took the time to think about what their consumers care about and how to make their lives easier. Your business can go a long way by putting your customer first, creatively engaging with them and listening to their feedback.
2. Unyoked
Who are they?
Unyoked offers a travel experience like no other. With several tiny houses all over Australia (mainly in the middle of nowhere), the appeal is to leave all your worries behind, get back in touch with nature so you can enjoy the peace and quiet away from that busy city life. And by all accounts, it’s working. Their cabins are fully booked out for months, showcasing the popularity of the experience.
What do they do well?
Don’t get me wrong; I love my job. But there’s something about ‘escaping the 9-5’ and ‘leaving your worries behind’ or ‘detoxing from the noisy world’ that’s much more appealing to me than the same old ‘book a trip now’ call to action you see on every travel website.
Unyoked has completely changed the game regarding going on roadies with a responsive customer support team and a spiciness level rating for each tiny house. Harnessing a sensational brand ethos centred around a philosophy rather than services, they’ve turned it into their own branded ritual. Each tiny house listed on their website has a unique backstory, plus your very own Unyoked playlist. Talk about personalisation.
They also have innovative partnerships with brands such as Koala, so you know exactly who’s giving you a great night’s sleep. Unyoked even partnered up with famous Sydney Italian restaurant Ragazzi to create chef-approved meals right from the comfort of your own cabin.
Throughout the experience, there were books, an excellent old little stereo and a ‘field guide’ telling you to go hug a tree and smell nature. Can life get any better?
Fav marketing campaign?
There’s nothing like a good ol’ marketing campaign that involves celebs. SO it’s no wonder why Unyoked did exactly that by launching a cabin designed by the one and only Matthew McConaughey called the Reserve (alright, alright, alright).
It’s not just for his glitz and glamour, though. McConaughey is the creative director of Wild Turkey’s With Thanks campaign — a global initiative supporting people and organisations committed to preserving wildlife. The partnership received crazy PR from Man Of Many, Concrete Playground, MamaMia and more. And for those who want to experience the cabin, all bookings include a bottle of Longbranch, McConaughey’s unique bourbon. I’m surprised you’re still reading this article and not busy booking your McConaughey experience with Unyoked.
Key takeaways?
Having a philosophy behind your business that resonates with your audience is more potent than simply selling a product or service for the sake of it! Find your individual why, and you will better connect with your customers, allowing you to provide them with exceptional value and even better solutions to their problems.
3. Chilly’s Bottles
Who are they?
Reusable water bottles – no big deal, you can get them from anywhere, right? Not after you’ve shopped with Chilly’s! With a Chilly’s water bottle, you can choose from hundreds of different variations, all with beautiful designs. There’s even the choice for some added personalisation too.
What do they do well?
Chilly’s isn’t just an online store that sells bottles and lunch boxes. They’re on a mission to overcome plastic pollution with their CSR initiatives. Every Chilly’s purchase of a Refill branded bottle means a £10 donation to the Refill, or every purchase of their Sea Fill collection grants a 10% donation to City to Sea (I am obsessed!). Not only that, they support artists all over the world who design the bottles, such as Will The Artist, who created the Sea Fill collection. Plus, their website has an absolutely outstanding user interface. The flow, the visuals and the way you can browse through the website are some of the best UXC designs I have come across.
Fav marketing campaign?
Although it’s not as fancy as playing a game or giving out free bourbon, Chilly’s did something more imaginative. Instead of manually managing their Google Smart Shopping campaigns to promote their products, Chilly’s made the transition to Bidnamic instead. See, the issue with Smart Shopping is that you don’t have much information about what the user typed into Google to make that purchase, which is a super valuable piece of data. By switching to Bidnamic, Chilly’s increased visibility throughout the customer journey and used the new information to retarget their customers more successfully. How good!
Key takeaways?
How does your business make the world a better place? Finding a way to solve the world’s biggest problems and tying your solutions close to your products is a powerful way to resonate with your audience and make them feel good about shopping with you. Also, data is the new oil.
Placing Your Customers Needs First
Ultimately, there’s a lot of noise out there in the market, especially in the digital space. Keeping your customers happy and engaged is more crucial than ever. And while paid media can play a significant role in attracting new customers, the power of your brand and the experience you provide them can make or break the relationship. Place your customers’ needs first, and you’ll get closer to hitting the jackpot.