Once, it was easy to build brand trust. You used mass media to establish profile and credibility, you became a “household name” and that was pretty much it. No longer of course. The splintering of channels, new levels of transparency and increasing expectations from customers have made just ‘being’ a trusted brand almost impossible. Trust is now far from a given.
In uneasy times, the most powerful thing a brand can do is to define its place, value and opinions in the world. That way, everyone knows where they stand.
Brands drive attention and income off awareness, but they derive their real value from their ability to shift and sustain longer term sentiment.
As some of you know, I’m working with Pete Canalichio on a new book about how brands can rethink their growth strategies. Together we’ve been studying how and where many of the world’s most successful brands partner up to reach consumers, how they grow engagement with their brands by expanding their market sector reach, and what that means for business models. On Thursday evening, I’ll be sharing my thoughts on how the strategies of global brands can be applied to businesses of all sizes looking for growth and profitability in today’s super-competitive environments. Building Brands in the Connective Economy Level 2, 318 Lambton Quay, Wellington Thursday 13 October 5:00-7:00pm Admission is free, but please register at Future of Business. Hope to see you there.
Can the same brand take two quite different positions? Yes. And no.
It’s tempting when your brand is trending to believe that the hard work is done. In point of fact, it may just be beginning.
It’s not always easy to spot that your brand is falling out of favour with consumers, especially if, on the face of it, things look healthy.
Why do consumers keep brands in their lives? Relevance.
Marketers love patterns. But repetition is not always the most reliable metric for brand loyalty. What makes your brand attractive?
Consumers look for products and brands that are relevant to their needs. Self evident. But the ways in which they make those choices are much more complex than quality or availability because they are so much more human.