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The best approach to growing a brand is not always clear but according to the latest Kantar report, brand equity is the best path moving forward. James Potter of Kantar states, "One of the distinctions...is it looks across years' worth of data...you truly can understand before, middle and after and that helps you come up with a prescription for what the right methods to drive brand growth would be". Kantar's findings suggest a three-pronged approach - predisposing more consumers to a brand, being more present in the consumer lifestyle, and exploring new spaces for growth. For a deeper dive into this, follow the link below:

The Playbook has been the key for unlocking growth at every business I’ve worked at, and it’s one of the most important things we make for our clients. It’s a comprehensive and accessible guide that outlines a clear vision and direction for your brand, rooted in the brand marketing principles of purpose, positioning and personality. It’s a rule book, essentially, and at its heart it’s all about clarity. It helps everyone in the business – from the boardroom to the warehouse – to get on the same page and understand the strategy and tactics required for the business to grow to the next level. At Gymshark, it allowed us to say no to the wrong brand partnerships and third party stockists. And at NIO Cocktails it means we have codified our attitude, and how NIO shows up, so we’re empowered to execute as long as it’s ‘excellent, innovative and inviting’. If I were to share with you the most important features your brand playbook should include, I’d say: 1. Your brand values and mission – not plucked out of thin air but principles you’re prepared for your brand to live and die by. 2. Target audience personas, focusing on demographic information, psychographics, buying patterns, pain points, and motivations. Even better, you should build in insights on how your brand solves your target audience’s problems and how it approaches different segments of the audience. 3. A solid go-to-market strategy and execution plan to align marketing, sales and product teams on the tactics that will drive growth. It clarifies how your brand differentiates itself from its competitor. I'll be sharing more on the importance of the Playbook, so stay tuned.

New research by Philip Mecredy, Malcolm Wright, Pam Feetham & Philip Stern explores how age influences the stages of the brand purchase funnel. Brand recognition follows an inverse-U shape, peaking at age 56 before declining. https://lnkd.in/ddpcpmQM

As we gear up for a brand-new year, it's crucial to lay a solid foundation for our brand strategy, especially in the world of ever-evolving markets and consumer behaviors. Plain and simple, understanding how your brand resonates is key! In collaboration with Forbes, Monigle outlines why investing in custom brand tracking could be the game-changer your business needs. It not only provides valuable insights but also aligns your strategies with market trends. Starting the year with a comprehensive understanding of how your brand is perceived can set the tone for impactful decision-making throughout the year. It's a strategic move that enables us to refine our messaging, stay relevant, and maintain a competitive edge. I highly recommend giving this a read as you kickstart your brand strategy planning for the upcoming year. It sheds light on the cost-benefit analysis of brand tracking and its potential impact on your brand's success. Let's make 2024 the year of informed and data-driven brand strategies!💡✨ https://lnkd.in/gGvECRsw #BrandStrategy #MarketingInsights #DataAnalytics #BusinessStrategy #BrandTracking #ForbesArticle #NewYearPreparation #Monigle #Healthcare #healthcarebranding

If you are reading any articles on Marketing this week, let it be this one. According to this recent report by Kantar, today's CMOs face greater challenges than ever before when it comes to driving growth, as competition and channel fragmentation continue to raise the bar on consumer engagement. Against this backdrop, it has become crucial for brands to focus on building and maintaining brand equity as a foundation for long-term success. How do you do that? Here are 3 tips: 👉Develop a brand strategy: Starting by defining your brand and communicating its unique selling propositions effectively. This includes establishing clear brand values, personality, tone of voice, and visual identity, which will help you to differentiate your brand from competitors. 👉Consistently deliver quality products or services: Every interaction with your customers is an opportunity to build brand equity, so it’s important to ensure that you consistently deliver high-quality products or services that meet or exceed customer expectations. 👉Build an emotional connection with your audience: People often make purchasing decisions based on emotions rather than logic, so creating a story around your brand, and engaging your audience's emotions through your messaging, can help to establish an emotional connection that drives brand loyalty. Read article here: https://lnkd.in/gjC3nJYJ

https://lnkd.in/eCAKaWmk CMOs have to ensure their strategies are geared toward #growth. Yet, in an age of intense competition & channel #fragmentation, the best approach isn’t always clear. The key to unlocking the way forward could be brand equity. Kantar’s “Blueprint For Brand Growth” report broke the data into 2 parts: attitudinal & purchase. The attitudinal bucket included 5.4 billion data points and encompassed 21,000 brands, 540 categories and 54 markets. The purchase bucket included 1.1 billion data points and encompassed 20,000 brands, 100 categories and 25 markets. Data was collected over 10 years. The findings suggest a 3 pronged approach when it comes to brand growth: predisposing more consumers to a brand, being more present in the consumer lifecycle and exploring new spaces for growth. Finding meaning (and difference) Market #penetration remains at the heart of #brand growth, per the research. However, reaching more target consumers is easier said than done. With more options available to consumers than ever before, making a brand stand out is key. Meaningful differentiation pays off even more, with 5 times the market penetration today than those who have not meaningfully differentiated themselves. Meaningful #differentiation boils down to building stronger emotional & functional connections with consumers. Building this difference can help predispose consumers to a brand, thus increasing purchase intent. Brands which consumers are more predisposed to have 9 times higher volume shares of the market, 2 times higher price paid and 4 times the likelihood of value share, or making more money than the competition from a product. “Being meaningful is actually addressing your consumer…if you’re meaningful to the right consumers, the right buyers, that’s going to set you up for success,” said Potter. One of the key ways brands can build meaningful differentiation is by being present across all of the places where buying choices are being made. Those who are consistently present attracted 7 times the number of buyers than brands that are present at just half of purchasing occasions. Taking up space One of the easiest ways to reach out to new consumers is by expanding into new markets. Another way is finding additional uses for existing products. Brands that are able to find new uses for their products have twice the chance for growth compared to other brands, per the research. Additionally, those who increase uses for a brand by 10% are able to drive 17% growth. BRAND GROWTH 17% Increase in growth for a brand finding 10% more use cases, however, pushing into new spaces takes both time and effort. Proven methods include meaningful & differentiating innovation, expanded distribution and communication.

Brands must embrace purpose-driven initiatives authentically, ensuring their actions align with their core values and resonate with their target audience to avoid undermining the brand equity they seek to build. Brand Council member and Marketing Specialist, Alexandra Ungureanu highlights the distinction between brand value and brand equity, and how brands that focus on building brand equity thrive. Below are a couple of tips : ➡️ Connect with consumers on a deep level to foster trust. ➡️ Prioritize brand equity to build lasting relationships that stand the test of time. ➡️ Pursue purpose with clear alignment to brand value. Read the blog to learn more: https://lnkd.in/gwU4Ntp5 #CanadianMarketing #CMACouncils #BrandValue #BrandEquity #Innovation #ThoughtLeadership #Marketing

If you are reading any articles on Marketing this week, let it be this one. According to this recent report by Kantar, today's CMOs face greater challenges than ever before when it comes to driving growth, as competition and channel fragmentation continue to raise the bar on consumer engagement. Against this backdrop, it has become crucial for brands to focus on building and maintaining brand equity as a foundation for long-term success. How do you do that? Here are 3 tips: 👉Develop a brand strategy: Starting by defining your brand and communicating its unique selling propositions effectively. This includes establishing clear brand values, personality, tone of voice, and visual identity, which will help you to differentiate your brand from competitors. 👉Consistently deliver quality products or services: Every interaction with your customers is an opportunity to build brand equity, so it’s important to ensure that you consistently deliver high-quality products or services that meet or exceed customer expectations. 👉Build an emotional connection with your audience: People often make purchasing decisions based on emotions rather than logic, so creating a story around your brand, and engaging your audience's emotions through your messaging, can help to establish an emotional connection that drives brand loyalty. Read article here: https://lnkd.in/eCAKaWmk

Brand growth remains a top priority! A recent article highlights the significance of brand growth in today’s competitive market and provides compelling data to support this focus. Key takeaways from the article include: - Growth Imperative: Despite economic uncertainties, brands continue to prioritize growth. This focus is driven by the need to stay competitive, attract new customers, and increase market share. - Investment in Marketing: Companies are investing in marketing strategies that drive brand growth. This includes increasing ad spend, leveraging digital channels, and exploring new marketing technologies. - Performance Metrics: The article cites various performance metrics that underscore the importance of growth. Brands that prioritize growth strategies tend to see higher customer acquisition rates, improved brand awareness, and increased sales. - Consumer Trends: Changing consumer behaviors also highlight the need for growth. As consumers become more discerning and expectations rise, brands must continuously evolve and expand to meet these demands. - Data-Driven Insights: Brands are increasingly relying on data-driven insights to inform their growth strategies. This includes analyzing market trends, customer preferences, and competitive dynamics to make informed decisions. - Long-Term Success: The emphasis on growth is not just about immediate gains but also long-term success. Sustainable growth strategies help brands build resilience, adapt to market changes, and maintain relevance over time. As a marketer, I recognize the critical role that growth plays in brand success. Investing in robust growth strategies is essential for staying ahead in today’s fast-paced market. Check out the full article - https://lnkd.in/eAhv5wpP #brand #brandgrowth #trends #data

Brand-building in a a digital and global universe creates tension between brand authenticity, local relevance and marketing efficiencies. Digge Zetterberg, VP of Marketing at Frontify explains: “A brand is a collective impression of a product or company, shaped with every touchpoint." And there are now soooo many touchpoints. According to Frontify, there has been a 458% increase over the last few years. Marketers need to manage brands globally, clarifying the key elements of the brand which must remain true no matter where in the world you are, so that it shows up consistently. Marketers also need to drive interest locally. Segmentation work should be done or validated locally with brand strategy updated accordingly, keeping in mind global elements. And lastly, there should be a system for similar markets to share assets - staying true to the market and the brand. How does your company manage these tensions? So many companies change their approaches every few years. It is a constant struggle for sure. #BrandBuilding #MarketingIndustry #Branding