The entire purpose of branding is to attract more customers, keep them longer and lower the costs of doing both.
Today, many brands are struggling for relevance. It’s harder than ever to stand out in a cluttered marketplace, and consumers are fickle. If that weren’t enough people are spending less money.
So what can marketers do to make an impact for their brand?
We have identified the companies that are beating the trends, the companies that are more profitable than ever. Companies and brands like Apple, P&G, Patagonia, GE and FedEx are maintaining relevance and creating deep emotional connections with their consumers.
These brands have what we at Pro Motion call vitality. Despite their age, the challenges they face, competitors or the economy, these brands maintain their strength and relevancy. The brand vitality allows them to grow profits and stock value, to grow revenue faster than their competition while:
- Decreasing their costs for customer acquisition and retention.
- Increasing the average value of their customer.
- Increasing the average lifetime of their customers.
Simply put, these brands are able to grow faster and faster – and it costs them less and less to do it.
But, how do they do that, and can it be replicated? Pondering this question, we realized that vibrant brands follow a simple game plan to develop deep emotional connections with their customers. What’s more, any company, of any size, in any industry, can follow this same game plan.
We’re sharing these observations in a new article 5 Principles to Sustaining Brand Vitality, and you can download the article here. While sharing these five principles, we also share some very important questions you need to answer to ensure that your brand stays relevant, strong and vital.
Download 5 Principles to Sustaining Brand Vitality and learn how you can begin creating relevance for your brand.