This, like many famous sayings, this is a slight misquote, Kevin Costner actually said “if you build it, he will come”, referring to the famous baseball legend “Shoeless” Joe Jackson. However, the sentiment remains the same and is a good metaphor for the approach businesses should take when creating a brand.
First need to identify who your ideal customer would be, and then build the brand so that those customers can identify with it. The ultimate goal, if I can mix my sporting metaphors, is for your customers to become advocates of your brand, a fiercely loyal tribe, who will recommend your brand to others and buy anything your brand produces.
Customers loyal to the brand buy more products and services for more money. Studies have shown that 50% of customers are willing to pay up to a 25% premium before switching brands, and that the most loyal 10% of customers can account for 50% of revenue.
So when you come to build your brand, make sure you are creating a space that your customers will want to come to.