The sad truth is that many business and financial leaders just don’t appreciate brand or the benefits it can bring. Not CMO’s though! A report by the Chartered Institute of Marketing stated that ‘67% of marketers thought their senior leaders didn’t get brand’. The Journal of Brand Management went a step further by suggesting that ‘in about 86% of firms there is some form of resistance to placing brand at the centre of their strategy’. During the roundtable we heard this echoed once again. So why is brand taking a back seat?
It comes back to the old argument of short-term gains over long term strategy. As business leaders continue to demand stronger return on investments and instant consumer conversions, the need for longer term planning fades. But is anyone getting it right?
We were inspired by the focused approach Apple took to create and develop products, as they took the smartphone market by storm. It came from an overwhelming sense of creating something better, beautiful and ergonomic – it was all about thinking differently. Apple leverages this and has an absolute, single minded focus on brand through ever touchpoint. As the rest of the market catches up with Apple, there is now little difference between smartphone brands like Samsung or Huawei in terms of looks or usability, but Apple still commands a premium. It will be interesting to see how long this brand love will continue for Apple.
So, who is connecting with consumers well?
- Innocent smoothies – using humour & their inclusive tone of voice make the brand feel inviting and real
- Nando’s – leverages amazing consistency in all they do including their tone of voice
- MONZO – captured the spirit of banking differently to gain consumer trust