Recently I attended a Vistage CEO conference and was lucky enough to hear Sasha Strauss, a brilliant speaker on strategic brand development.
Brand development is an elusive entity. The rules of engagement are in constant flux based on an ever-changing consumer market against an evolving technology backdrop. As Sasha describes it, social media is the “wild west,” a new frontier where rules and “the normal” methods of consumer engagement are fluid and adaptable. But the basis of what consumers want remains solid- in that we all inherently want to be loved or accepted and thanks to the wild west, we are more skeptical to advertising and marketing.
In the new normal advertisers are 30% louder than news in order to cut through the abundance of social media chatter. But because consumers are defaulting to question and scrutinize what brands are selling, they are resistant to immediate buy-in. If we are to truly engage the consumers in the social media world and the new normal than brands must embrace the consumer’s beliefs or at the very least, invest in their own to forge a bond and identity. We live in a world of transparency and any hint of inauthenticity spurs a negative backlash- such as Ashton Kutcher’s unfunny Pop Chips commercial.
Unlike Pop Chips, Richard Branson and Virgin have successfully channeled their brand development through Richard’s own persona, cause-related efforts and building a cool and fun employee culture. Consumers have embraced what Richard and Virgin stand for, rallying behind the company and its philanthropic efforts and high quality services.
Sasha also spoke about the seven basic principles that brands can follow in the new normal, and that we at TRG have been integrating into our campaigns based on the social and digital media landscape. Stay tuned for my next blog where I’ll outline these principles and share how brands can make an even greater impact using a belief system that resonates with consumers in the new normal.
