Though when we take a look at the numbers, it’s so real … Looking at the last 60 years, only 12% of the companies on the Fortune 500 are still present today! That’s only 61/500 companies that have survived the age of the internet and been able to build with this ever-changing consumer lifestyle.
Joanna captivated the audience and demonstrated the importance of what we think of past brands and what makes a brand today.
Then and Now
Companies of the past referred to its “brand” simply as the logo guidelines as to what the company stands for and/or the product that they provided to consumers. Joanna believes that this is not how a “brand” should be, nor is in 2016. When we look at such great brands like jetBlue, we have to think of every interaction with customers and prospective customers as part of the brand experience. Today, we find that a company’s “brand” is the personality of the company, what consumers perceive the product to be and what the consumer thinks of in his or her mind.
Be One with Consumers
With the transformed concept of a “brand” it makes sense as to why so many companies are heavily invested in the consumer's’ perception and the need for approval. Today’s consumers expect brands to provide a personalized experience, putting the consumer first. I am that millennial, that has been raised in the age that everything I do, I am asked “how do you feel?”, For example, remember when the Facebook status call to action used to say ten years ago? It began as “your name ‘is...’” and about 6 years ago it was updated again, to “What’s on your mind?”. Let’s just say, that as a college student, I was constantly updating my status and letting all my FB friends know where and what I was doing (this is definitely awkward to see now on my “On This Day” and why did I find the need to share?)! But, this is what millennials know and brands need to consider this. it’s only realistic that companies now are enticed to be top-of-mind for consumers, by making them feel a part of the product and/or service.
Campaign vs. Program
The practice of creating a campaign for the super bowl, to get across the single goal of having the highest grossing commercial is great and all, but what will that do for the company once the game is over, and people forget about that product that you were once promoting. Now, marketers think towards the concept of producing a corporate program. Today’s top programs may be loose concepts, though they are connected at the root of the company, and are striving to create the brand and drive overall awareness (source).
As we move forward to 2017 what companies will be forgotten? What new companies will emerge? But, while we still don’t know those answers, what I did gain from the “Future of the Brand” session, was that companies can no longer allow themselves to simply sit back and carry on as they have in the past. It’s time for each and every company, to create a brand that speaks to the consumer. Most importantly, be real! People are dynamic, and have a sense of humor (for the most part!) so why not humanize your brand?
If you're looking to add some humanization to your brand, let's talk!
