When Havas published their research results back in 2013 that indicated that the majority of people worldwide wouldn’t care if 73% of brands disappeared tomorrow I wonder how many of us were really surprised.
We all would like to think that our much pampered bands are” loved” and wanted by consumers, but how many of us know we are in the 27%?
Furthermore, when you also consider that in Millward Browns BrandZ survey the average of the top 100 brands has declined from 84 years in 2006 to 64 in 2012, then staying fresh and relevant is all the more critical for our brands.
Never fear Big Data is here to power your marketing strategies, I hear so many people say. But then 82% of people worldwide believe that companies collect too much data about their customers, so what influence do they have?
Whilst digital data analysis is brilliant for insight into past behaviour and clues to the future we don’t all have the computing power of a Google or Amazon so we all can’t become algorithm driven, even if we wanted to.
So for the rest of us mere branding mortals the way to not only survival but thrival is to keep your eye on your bull’s-eye target consumer, understand their deepest motivations for buying your brand and not your competitors’ and give them a brand experience that is unique and exciting. So much so that they want to repeat it, recommend it through the myriad of channels they control and put it into their 27% box.
Without a constant refreshment of insights our brands are already suffering from levels of brand erosion hitherto unknown to the conventional marketing world.
Such is the inverted nature of brand loyalty in our world. Understanding this is not just about Big Data it is about the qualitative nature of human beings behaviour so don’t forget to find your insight from the world of your consumer and not just your internalised data.
After all too much inside, subjective thinking and analysis is great news for this brands looking to steal your consumers and market position.
Stay in the 27%, stay deeply connected to customers, bring real innovation into your brand experience in order to inspire them and don’t just them something that is easy for you to provide today – they may not be with you tomorrow.