HOW MODERN TRENDS ARE INFLUENCING MARKETING STRATEGIES?

HOW MODERN TRENDS ARE INFLUENCING MARKETING STRATEGIES?

Howard Schultz is a renowned transformative leader. He transformed over a period of four decades the famous American coffee beverage brand STARBUCKS into a highly respected and recognized brand.

When asked about the secret of a brand’s greatness, he said, “In an ever-changing society, the most enduring and powerful brands are those that are built from heart. They are real and also sustainable. Their foundations are strong as they are built with the strength of the human spirit, not an ad campaign. The companies that last are those that are truly authentic.”

That’s Authenticity’s power. In today’s chaotic world that’s increasingly digital, authenticity has become a necessity, not an option for brands. More consumers today are seeking out only those businesses that are authentic at their core.

Now the question is how authenticity helps in branding?

Audiences today are smart. They are quick to make out when a brand is not genuine. They are also quick to disengage from a brand that does not feel genuine to them 

How important being genuine matters more than ever can be gauged from the following stats.

• 90 percent consumers’ put authenticity first when deciding which brands to select. 
• 90 percent millennials say brand authenticity means a lot to them.

The stats clearly reveal how authenticity is more important than ever for people Consumers are willing to engage only with those brands that not just offers quality products/services but also stands for something purposeful that they can connect with.

WHY IT MATTERS MORE THAN EVER?

Constructing an authentic brand requires sound understanding of customer requirements. It is a task that demands patience and time. As a long-term process, it involves constant adaption to changing trends to stay relevant.

For your brand to stay relevant, it should be authentic which requires a foundation in place.

Branding authenticity matters and why it is so, the following aspects tell the same.

DEFINES YOUR BRAND IDENTITY

When deciding what brands they will lend their support, 90 percent according to the latest Gustavson Brand Trust Study say authenticity is critical to deciding which brands to support. The same study confirms Millennial’s and Gen Z support only those brands that are not only authentic but also supports their values.

Brand identity however is not just about visually pleasing logo or a clever catchy tagline. It is more about an authentic and cohesive brand that syncs with customers and sets your business from the crowd.

For that, authenticity should 

• Ensure a clear brand purpose. It should be clubbed with a set of core values that gets the audiences behind. Brand purpose speaks about what your brand is about, what it stands for, and what it can offer its customers. While defining it, it should align with your brand values as well as the aspirations of your target-audience.
• Reinforce brand purpose with clear messaging. Just having a purpose won’t exactly define a brand. It should also have clear messaging that reflects your brand’s personality and resonates with your target-audience. It should additionally also stay consistent across all touch-points as they help to build trust.
• Builds Visual Appeal that creates a good first impression and helps your brand stand out from the crowd. Visual appeal includes your logo, color palette, typography, and overall design elements. To stay memorable it should align with your brand’s personality as well as values while pandering to the emotions it’s looking to evoke. 

The right foundation laid will serve as an inspiration for all of your branding efforts.

REACH THE RIGHT AUDIENCE 

It’s important to target the right audience. That is, the audience most likely to buy them. Let us say you’re peddling fashion design clothing. Your brand campaign should only target fashion-focused people with the capacity to buy your clothing. 

To know who your target-audience is, identify

• What are the audience demographics and psychographics?
• What is the audience age profile? Are they married and if so, do they have children? If they have, how old they are?
• What the audience is most likely to buy?
• What is the audience income and educational levels?
• What are the audience’s preferences and pain points?

Knowing who your target-audience will help 

• Better focus your marketing budget. This will ensure there is no extravagant wastage or spending that serves no purpose.
• Generate better leads. You stand to get quality leads which will drive better sales.
• Analyze your marketing efforts results. This can be done by comparing data analytics and varied marketing elements with A/B testing; and analyzing the results.
• Personalize brand message to the audience’s specific needs and expectations.  

The insights gathered will help to purposefully connect your brand with their unique needs and preferences.

FOSTER TRUST AMONG AUDIENCE

A brand that’s authentic goes a long way in building trust with your target-audience. 

To build and consolidate trust, your brand also needs to

• Be transparent maintaining consistency at all touch-points. Studies have repeatedly disclosed how customers are more likely to trust a brand that maintains the same values all through, without deviating from it. To know if a brand can be trusted, look at its website. It should be well-designed with all of the essentials in place. Then, look whether they’re using quality communication customer service tools. Brands that do them are more likely to deliver on and stick to its promises.
• Be customer-focused. This is critical to building lasting brand loyalty. A brand that’s customer-focused is more likely to be trusted by customers. According to a study report, 81 percent consumers say trust in a brand is vital for getting them to make informed purchase decisions.

When your brand is open about its values and processes, it will be seen as a brand that’s truly authentic with a credible image. When people are convinced about the brand’s integrity and intentions, they’re more likely to become a part of a loyal customer base

STAND IN A DIFFERENT ORBIT FROM COMPETITION

Like your brand, there will be similar like brands in the marketplace. Consumers in such a scenario, will find it difficult to distinguish the good from the bad. 

Your brand to stand out from the crowd should ideally have a unique personality and identity. This will make it authentic. When the brand is seen as authentic, it tends to attract customers easily and foster a genuine connect with the audience. At the same time, it also retains existing ones comfortably. A good example herein is of a company called The Dollar Shave. It stood out in a sea of several men’s grooming products because it projected a picture of authenticity and consistency through all its marketing efforts. This enabled people to be aware of it more than its rivals. 

When your brand differentiates itself from competition, it 

• Makes it more relatable to the people.
• Sparks curiosity among people. When people get curious they’re more likely to buy your products/services and stay loyal to your brand.

An Accenture study reveals that 63 percent consumers’ worldwide prefer to purchase their needs from companies that reflects their own beliefs and values.

By staying true to its purpose and values, brands will be seen as truly authentic. When they’re seen as authentic, it becomes easier for them to put itself in a different league from rivals. This will attract more consumers thus giving it a competitive edge in a competitive marketplace.

ELEVATE BRAND REPUTAION 

A healthy brand reputation is essential. It will give your brand a competitive edge in a tough marketplace. It will also tell how your market think and feel about your company and whether they’re likely to invest in your offerings or not. In short, reputation can make or break your company’s standing in people’s eye.

For a healthy reputation, your brand should be seen as authentic. This means it should

• Stay true to its values and mission. 
• Project an image that’s genuine and purpose-driven.
• Provide on a consistent basis high-quality products/services.

A healthy reputation will speak highly about your brand’s credibility, status, and offerings, all of which are closely linked to branding. The higher the standards maintained by your brand, the more will its reputation improve. People will come to trust your brand instantly without hesitation. 

POWER FRUITFUL ENGAGEMENT

Engagement happens only if when there is mutual trust. A brand that’s authentic is more likely to get people to engage in meaningful interactions that resonate with their aspirations. 

To power fruitful engagement, 

• Have authentic content. A study report reveals that 77 percent consumers are more open to engage with content that relates to their aspirations and is genuine.
• Have a clear purpose or mission. They should go beyond just merely making a profit. A company that is committed to a higher cause is more likely to drive positive customer decisions and engagement.
• Maintain consistency across all touch-points. This will require the brand to retain a consistent image, messaging, and tone of voice across all of its marketing channels. 
• Maintain utmost transparency about its working practices and operations. This means your brand should not conceal anything about it from its audience; and is instead willing to address any customer concerns or issues truthfully. 

Modern technology provides several communication tools. They help you to interact with your audience easily and comfortably. When you interact with your audience, you tend to engage in fruitful conversations and give genuine Reponses, and gather useful feedback.

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