In the current climate, consumers are thinking more carefully about brand allegiance than ever before, so it’s important that brands set up to protect themselves from losing market share. Here are 6 steps to help ensure your brand stays on top:
1. Decide internally your brand is an ‘essential buy’ – the brand needs to add value to a consumer’s life and deliver satisfaction on an ongoing basis
2. Communicate why people can’t live without your brand – this needs to be a mix of both functional and emotional elements
3. Create a historical context for your brand – play up the heritage to make consumers feel comforted
4. Develop an innovation tool – innovation gets peoples interest and adds value
5. Emphasise relevance in the current market – brands need to change what they say in order to resonate with consumers in the current market
6. Build a meaningful relationship – brands need consumers to feel part of the brand and share in both its public and financial success
Marketing Week 05.03