Brand Management: Critical Factors In Brand Success

Combination of Trust and Dynamism Needed to Win Loyalty of Digitally Empowered Consumers

 

 

 

Facing universal skepticism from consumers and stiff competition from a sea of competitors, how can a brand differentiate itself to win a loyal following—or at the very least, to prove itself worthy of its customers’ time? It boils down to two essential elements: trust and

 

Twitter 6x6

Twitter 6×6 (Photo credit: Steve Woolf)

 

—the consumer’s perception that a brand has delivered on the promises of the past while simultaneously helping lead the way to a better future.

 

A new global study on “Building Brands that Matter: The Sweet Spot Between Trust and Dynamism,” explores the critical factors at play in brand success and consumer engagement. Tracking factors such as transparency, innovation, authenticity, utility, and sociability, the white paper identifies what people around the world truly value in their relationship with brands.

 

Topline findings include:

 

  • Social brands win
  • The value of “local” is tied more to actions than provenance
  • It’s no longer acceptable to operate solely in pursuit of profit
  • Consumers want to partner with brands to drive positive social and environmental change
  • Transparency is essential to trust
  • An authentic brand history is a valuable reputation boost
  • Employees can be a brand’s best advocates—or its most damaging detractors
  • Mobile consumers want seamless digital interaction

 

People today want businesses and leaders to be more socially responsible. They understand that business has to make money, but they want it to make money in the right way. They now expect businesses to have a purpose beyond just profit. Social media has created a world of radical transparency and given people the power to hold companies accountable, to reward the brands that act responsibly, and punish those that don’t. The new price of doing well is doing good.

 

The new Prosumer Report draws on findings from an online survey of 10,219 men and women in 31 countries: Argentina, Australia, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, the Dominican Republic, Finland, France, Germany, India, Italy, Japan, Kazakhstan, Kuwait, Malaysia, Mexico, Russia, Saudi Arabia, Singapore, South Africa, Spain, Taiwan, Turkey, Ukraine, the United Arab Emirates, the United Kingdom, and the United States.

 

From: Havas Worldwide

 

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