By Sharna Goldsker
A number of you commented on the email I sent last week, so I thought I’d send you one of the more interesting pieces I read last week if you’re interested.
It came from this article summarized here:
Havas Worldwide explored this phenomenon in a Prosumer Report titled “Building Brands That Matter.” Our research found that the most successful brands—Patagonia, Levi’s and Warby Parker among them—are those that have found the sweet spot between trust and dynamism. Those brands build trust by standing for quality, acting with transparency, proclaiming their roots and aiming for “multilocal,” meaning they convey a quality that’s more mom-and-pop shop than multinational conglomerate. And they display dynamism by doing good in the world, interacting on social media and creating a seamless brand experience.
After checking out the Building Brands that Matter site (hyper link above and an incredible power point I recommend checking out) I was struck by this take away:
“…when people not only trust a brand, but also perceive is as dynamic, the future purchase index more than doubles.”
Of course the research is looking at major corporate brands, but I thought there were learnings for all of us as we grow our businesses whether freelancers or federations, community foundations or investment companies.
So here are four drivers of trust from the study, a number of which I found counter-culture to what I expected and which bode well for many of our organizations focusing on quality, heritage and/or local.
- Stand for quality (ok, this one I expected)
- Transparency in brand communications (this was requested by people of all ages, not just the young)
- Links to a brand’s heritage (I assume consumers want innovation, not heritage)
- Balance global presence but local sensibility = “multilocal” (with such an emphasis on a global world, it surprised me to see consumers interest in local)
And here are the primary drivers of dynamism (with some of my learnings here too in parentheses) but essentially all of this say to me that they are building community and networks among their consumers, not just one way purchasing:
- Do good for now and the future (purpose beyond profit is now an overt part of corporate strategy)
- Be sociable (let your employees talk up your organization on social media rather than assuming that paid advertising or PR strategies will be more effective)
- Create a seamless brand experience (across different technology platforms, so handhelds and tablets are a given in the eyes of these companies)
If this stuff is of interest, the power point gives examples of companies whose take on projects to be more dynamic and build more trust. Check it out here if you’re interested.