Adapting to Consumer Change
Consumers are becoming more health and ethically conscious, emerging ethical trends are at their peak, ‘good, ethical brands’ are what consumers desire. As a result, social change is happening and buying decisions are evolving, consumers require brand transparency and openness about brand processes and values to suit their adjusted social and personal values.
The marketing and branding landscape is going through a revolution, the brand strategy must adapt and listen to the consumers wants and needs, values must relate and connect to that of the citizens, and not that of the consumer. The development of the original 4p’s of marketing has adapted with the original price, purpose, positioning and packaging making way for the emergence of the 5p’ which is the purpose, which also adds to people and participation under this fifth umbrella.
As Bobby Jones youth marketing strategist states, the new mantra to the right strategy is ‘good is the new cool’ how do you achieve this and still stay true to core values adapt and be agile with your values and marketing, four ways to be ahead and connect to the new wave of consumer is by the following;
Know your purpose
Knowing your purpose is integral, your brand values and purpose should align, why does your brand exist? This question should be answered and thought through — your purpose should be why you seize to exist, this should be consistently built upon and grow with your brand. Don’t just think on the financial side, think about the greater social economy and the end results.
Find your allies
Don’t assume every other business is a competitor or enemy, align with businesses who carry the same business and social values — champion each other and make the change greater, it will strengthen your brand voice and make the reach go further about your causes and brands.
Think citizens, not consumers
‘Consumer’ is a term that is evolving, people are more than consumers, they have values, thoughts, issues they care about. Consumers want brands to value and personify them much more, a great way to lead is by speaking to the people and acting first.
Champion the mantra — lead with the cool
Don’t just vocalise your brand voice and align with causes, brands need to lead with intention and do. Lead with cool, make your cause and values exciting and engaging. Show your company cares and has a personality, consumers want more than a brand image.
Transparency is now key; information and ethics are easier to find out — brands must lead with being transparent. Back up the brand promise with an action plan, ready to go to the market and lead with, being ‘good is the new cool’ putting your ethical and social personality in the limelight.
People are the media
People lead the narrative; social media allows this and has given citizens a further, that’s harder to maintain and grows quicker than brands can predict. The brand voice on social media needs to be earned, a great way to do this is by solving problems or showing you are involved. Campaigns that connect, resonate and that have made an impact, work because people listen and care, responding and causing viral campaigns through responding.
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