 |
| WellnessPulse |
"A brand is a promise. A good brand is a promise kept."
—Muhtar Kent, former CEO, The Coca-Cola Company
What are your favorite brands?
The three most popular consumer brands, based on public approval and consumer tracking in America, are Dawn dishwashing liquid, Band-Aid, and M&M's. When measured by overall corporate financial worth and global brand value rather than consumer polling, technology giants Apple, Microsoft, and Google dominate the top spots globally.
What's a brand?
Andrew Dobbie, founder of a branding agency, says, "A brand is the unique perception, feeling, and reputation that a customer has when they think of a company, product, or service."
A better way to understand a brand is to think of it as another term for your reputation.
A YouTube interview with brand designer Rocky Roark suggests that three components of a brand are perception, or what people say about a business when no one from the company is in the room; the visuals- logos, colors, fonts, and slogans that help people recognize the brand quickly but are not the brand; and each experience or interaction, from customer service and product quality to advertising and website design, which shapes the overall brand.
A better way to understand a brand is to think of it as another term for your reputation.
When does a brand get underway? On day one.
Shifting loyalties
Customer and loyalty retention platform Growave reports that loyalty changes when a company, collectively, or any of its employees in physical or remote locations individually, fails to meet expectations, offers less value than competitors, or loses trust. This includes AI voice bots that are supposed to be assisting with customer care.
Rising costs and inflation make shoppers focus on price, deals, and overall value rather than emotional ties to a favorite label.
Zeta Global Platforms says that a silent shift in brand loyalty is quietly transforming the retail landscape. "Consumers, particularly millennials and Gen Z, are moving away from long-established brand allegiances, driven by changing expectations around value, personalization, and convenience."
Even the cola wars are getting caught in this transition. Diet is out; Zero Sugar is in.
Both Diet and Zero Sugar are calorie-free, artificially sweetened imitations of their sugary counterparts, Bloomberg News says. "Yet the latter's branding resonates more with younger, well-ness-minded consumers, who shun sugar but don't vibe with calorie counting or diet culture."
The word "diet" is from a different era. "For a lot of younger consumers, it's radioactive," said Kevin Ryan, chief executive officer of Malachite Strategy and Research.
Zero-sugar sodas are a small but growing part of U.S. soft drink sales. Last year they accounted for 52% of the category's sales growth, according to Circana data. Sales of both Pepsi and Coke Zero Sugar are up; sales of full-sugar Pepsi and Coke are declining, while Diet Coke is up slightly.
Bloomberg says that Keurig Dr. Pepper had no Zero Sugar offering in 2020. Now it has more than 40. Our favorite is Zero Sugar A&W Cream Soda, which is also caffeine-free.
Keep your promises
Here's a change assessment from Zeta Global Platforms:
"Historically, brand loyalty was built on trust, familiarity, and consistent quality. Consumers often stuck with the same brand for years, influenced by family traditions, regional availability, or limited choice. This was especially true before Amazon.
Adding social media and artificial intelligence to the marketing mix brings powerful influencers into the picture ...
"Today's consumers, especially younger generations, are showing less loyalty and are more open to experimenting with new products, companies, and experiences."
Adding social media and artificial intelligence to the marketing mix brings powerful influencers into the picture, one that's without historical precedent.
Under these circumstances, the best stance is to recognize and prepare for major generational change — customers and employees. For many, the differences are a present reality. McKinsey & Company spotlights small- and medium-sized family-owned businesses. "These Main Street businesses face the greatest disruption because of retirement and succession voids."
As AI becomes less costly and readily available, and good help is harder to find, there will be a strong incentive to move in that direction, liabilities and all.
However, in certain areas where responsiveness and empathy matter, a human connection remains superior.
More importantly, guard your enterprise's brand as you guard your life. And encourage colleagues to do the same.
Classical Greek philosopher Socrates, writing in the 5th Century BCE, observed: "The way to gain a good reputation is to endeavor to be what you desire to appear."
Strategist.com
© Bredholt & Co.
