Don’t get left behind—the new dawn is loaded with digital transformations and new forms of brand strategy.
As we embark into a post-pandemic world and a global ecosystem of new economic models, businesses and brands see that past norms are constantly being reimagined. Over 47 million people left their job in 2021 in the U.S. alone, transforming how we do business and shop even more so. We are seeing a demand for more representation, inclusion, and better, morally structured national brands.
To stay relevant and competitive, business leaders must be willing to adopt the latest tech, engage their teams, and implement better internal/external practices. Motivation from profit is no longer viable, and a strong brand strategy is crucial to stand out in a world of options.
According to JP Morgan, “companies are focused on new technologies, investors could also consider using new investing methodologies that use artificial intelligence to identify companies exposed to a particular theme.”
Digital transformation and development
The consumer experience has shifted into a more digital landscape. According to a report from IBM, “Shopping can no longer be divided into online or offline experiences. Many consumers now prefer an “all-of-the-above” approach, visiting stores, shopping online, and using mobile apps interchangeably. They want the freedom to use whatever shopping method is most convenient for them at the time.”
Hybrid shopping has attained considerable momentum with different age groups. Retailers and brands are rapidly aligning with post-COVID expectations, allowing consumers more control of their shopping and experiences. For example, 36% of people who identify as GenZ say shopping online and in-person/hybrid shopping is now their preferred method. Consumers also state that they are more than willing to change their shopping habits if it reduces the environmental impact. Therefore, communicating transparently and practicing sustainability will positively influence consumers’ decision-making.
Brand Strategy
Brand strategy is crucial for your business and its future. Brand strategy is how your customers, viewers, stakeholders, and employees perceive you and is a sure way of connecting with others and communicating more personally. This lasting impression begins with your logo and brand strategy. Therefore, building your brand stronger and futureproof requires a well-thought-out brand strategy, using the right platforms, and defining your position in the market. Connecting emotionally to your customers and people has a higher lifetime value of 306%, according to research by Motista. Consequently, people will stay with your brand for five years instead of 4 years and will most likely recommend the brand by 71%, which can often lead to customers spending more money on your brand.
Airbnb CEO Brain Chesky said it best, “The designing of experience is a different part of your brain than the scaling [of] your experience. It’s a different skill set. The scaling of an experience is a highly analytical, operations-oriented, and technology-oriented problem. The designing of experience is a more intuition-based human, empathetic, end-to-end experience.”
What makes a strong brand
Brand storytelling is critical; having the right visuals, components, and marketing plan will revolutionize your business. A well-established brand can be recognized and loved everywhere on a global scale. When your brand is identified, your brand awareness grows faster and consistently. Consistency increases revenue and levels up your brand. Your income can increase by 23% when presenting your brand on all social platforms.
To maintain a strong brand, you should:
- Maintain customer service satisfaction, engaging in every interaction.
- Apply an omnichannel approach, employing every relevant social media channel and advertising to your target audiences contextually.
- Join forces with other brands or influencers to expand reach and relevance.
- Implement referral programs to improve your K-factor and scale your customer base.
- Remember to focus on emotions.
Undoubtedly, the way we do brand strategy has changed tremendously in the past few years. The next generation of national brands will have a very curvy learning curb to grasp—loaded with possibilities, technology, unique customer experiences, and more empathetic practices. Understanding your customers is the first step in helping you design the right strategy to create a better brand story that connects everyone.
At dpBrands, we specialize in creating the next generation of visually appealing, purposeful brands that cater to the right audiences. Our marketing approach can help your brand strategy, evolution, and management. Contact our trust advisors for more information.
This blog post was written by Pedro Medina, Managing Partner & Senior Brand Advisor at DuartePino.
ABOUT US
DuartePino is a management outsourcing firm that combines in-depth customer knowledge with practical expertise in marketing, communications, brand management, and overall business strategies to help clients create sustainable business growth. Our single-source accountability comprises a unified network of Trusted Advisors with years of combined experience in their respective industries. As a result, we can provide your organization with a fresh perspective, proven processes that invest in results, and the martech tools for successful execution.
We have one primary purpose: to help Hispanic-led companies connect with growth opportunities. We do this by intentionally building relationships of trust, internally and externally, through reliability, competence, and integrity. As members of the Worldcom network, we also have quick and unfettered access to the resources of more than 80 global partners in 50 countries and six continents to work together in designing and implementing communications strategies for all key stakeholders. Today, we proudly manage over 15 marketing communications departments representing more than $1B in annual sales, and 70% are exporting to international markets.