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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.

Brand growth drivers: Here’s what the numbers say

Brand growth drivers: Here’s what the numbers say

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