Purpose, authenticity and experience are some of the issues to consider to improve brand equity.
What makes a brand valuable? Millward Brown released the results of its BrandZ study , which looks at the 100 most valuable brands globally in 2016 . In the research we can find 7 lessons to take into account to build a brand and sustain its value over time:
Have a brand purpose that is unmistakable
Every brand needs to have a purpose . Accounting Directors Email Lists assume that brands are focused on making money, but they also expect them to go further. And while you can describe how they change the world, you must also describe how they improve the customer’s life .
Be an authentic brand
Never before has it been so important for a brand to be genuine and operate in line with the social context. Today’s consumers, especially those in the Millennial and Z generations, are more likely to choose a brand that aligns with their beliefs, or at least does not contradict them.
Be in the conversation of consumers
The consumers are making their voices heard in all categories, expressing their concerns and advocating for greener options. The brands need to be involved and listen to critics and fans to model the conversation transparently.
Grow the triple bottom line: economic, social and environmental
Pay attention to financial results, but don’t forget social and environmental ones. Brands must focus on the future and be consistent and constant in their actions to achieve the objectives for each of the three slopes.
Reinforce the brand experience
At a time when most products are functionally good or excellent, and all are just one click away, there is very little room for differentiation. Only purchase and use can tip the balance if they are presented to Betting Email List as memorable brand experiences .
Use consumer data in a respectful way
Consumers constantly nurture marketers with information about themselves. And while it may be good for them to know that they buy shoes a couple of times a year, they don’t like it so much that ads for these follow them for months. The consumer’s desire is for brands to use their data wisely .
Simplify the exchange of value
Paying exclusively with money for a product or service has become a singular fact. Today, consumers are also asked for their data and feedback in return. These new transactional forms have distorted the value obtained by customers, who end up giving more without receiving any additional benefit.