Zain Raj in his new book, Brand Rituals: How Successful Brands Bond with Customers for Life, proposes that companies can drive business and longevity in the marketplace by building bonds with customers. Raj calls this a Brand Ritual:
A deep, abiding relationship that customers build with brands – which becomes an integral part of their lives.
He outlines a four stage approach to a Brand Ritual:
- Get the initial transaction with a New Value Equation
- Magnify consumer attraction by being digital at the core
- Build connections with relevant innovations and experiences
- Create a bond by aligning on core values