4.6 • 1.2K Ratings
🗓️ 8 February 2021
⏱️ 59 minutes
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0:00.0 | So, Burdo, I have a bunch of emails from listeners, and I thought we would read them and answer them, what do you say? |
0:06.5 | That sounds fabulous. |
0:07.8 | Alright, this first email is from anonymous upper-tier patron about brand loyalty. They write, |
0:14.3 | what is the psychology behind brand loyalty? |
0:18.3 | Why do people stay loyal to brands like Apple when their products consistently get more and more expensive with seemingly less value, Burdo? |
0:27.5 | Why are people so into brands these days? |
0:32.5 | Well, that's an interesting thing. I don't even know that this is a these days kind of thing. People have been Coca-Cola's been around for a long time. |
0:41.5 | I think the idea of loyalty to something you like goes back time and memorial because someone would set up a shop. |
0:50.5 | It's like, oh, you haven't tried baked rolls until you go to little Johnny's over here. |
0:56.5 | And so, you're like, oh, little Johnny's. Yeah, yeah, he's up on that mountain. You see that temple? They're praying to the goddess, such and such. |
1:02.5 | Go next door. He's got this little shop there. And this is 6,000 years ago. |
1:06.5 | So, you climb the hill, you get up there, and you go taste the thing, and it was great. Now, you don't know any better because there's not like bun makers everywhere. |
1:15.5 | So, as far as you're concerned, this is the food of the gods, and then you go tell everyone. And for the rest of your life, you're like, oh, no, no, no, no. |
1:22.5 | You've never had buns until you've tried little Johnny's buns up in the near the Parthenon. |
1:27.5 | Yeah, Johnny's buns. Maybe I need to delineate for a bit of this for the discussion to be satisfying for the anonymous upper to your patron. |
1:35.5 | So, there's a difference between being loyal to something that's good. |
1:39.5 | You know, like, if your loyal is something like Johnny's buns, and they are decided to be good. |
1:45.5 | So, that's the delineation. Why would an anonymous upper to your patron is saying that people are loyal to brands, even when it's counterproductive for themselves to be loyal to that brand? Why do they do that? |
2:00.5 | Yeah, like, I think that humans don't generally like change. Humans like things they find, and if they recognize them or they feel familiar, they tend to gravitate to them. |
2:13.5 | So, look, is it true that everyone's grandma's soup is the best of all time? Is it actually true? |
2:22.5 | Or is it just that everyone's got a special affinity to the thing they know and got used to? |
2:27.5 | Right. And so, you bought that one product, or maybe your parents did, and you got used to that brand. |
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