{"id":8081,"date":"2020-11-11T18:52:00","date_gmt":"2020-11-11T18:52:00","guid":{"rendered":"https:\/\/preview.prophet.com\/?p=8081"},"modified":"2024-08-16T15:54:23","modified_gmt":"2024-08-16T15:54:23","slug":"why-brand-growth-moves-power-business-transformations","status":"publish","type":"post","link":"https:\/\/prophet.com\/2020\/11\/why-brand-growth-moves-power-business-transformations\/","title":{"rendered":"Why Brand Growth Moves Power Business Transformations"},"content":{"rendered":"\n
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Why Brand Growth Moves Power Business Transformations<\/h1>\n\n\n\n

Learn how brand growth moves will help you win customers and growth in the long term with these real-world examples.<\/p>\n<\/div>\n\n\n\n

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At Prophet, we believe the most powerful brands are those that are \u201cRelentlessly Relevant.\u201d We have measured relevance through Prophet\u2019s proprietary Brand Relevance Index<\/a> and know it is a predictor of long-term growth for brands. Effective leaders recognize the power of their brand assets to support ambitious growth goals and transformation efforts.<\/p>\n\n\n\n

In today\u2019s world, as technologies evolve and consumers seek more active relationships and connections with businesses, it\u2019s becoming more challenging for brands to maintain relevance.<\/p>\n\n\n\n

So how can brands stay a step ahead of consumers and <\/em>their competition? They can start by asking three key questions:<\/p>\n\n\n\n

  1. How can brands reflect what matters to society, yet stay true to who they are?<\/li>
  2. How can brands deliver a brand experience that\u2019s consistent, but also flexible and adaptive?<\/li>
  3. And most importantly, how can brands build momentum to sustain long-term brand relevance?<\/li><\/ol>\n\n\n\n

    By making moves. Brand moves<\/strong>.<\/p>\n\n\n\n

    What exactly is a brand move?<\/h2>\n\n\n\n

    Brand strategies offer companies a foundation on which to build their purpose, but alone, strategy doesn\u2019t build relevance. To drive profitable growth and deliver tangible impact, strategy must be put into action.<\/p>\n\n\n\n

    Brand moves are actions businesses make to strengthen and sustain their brand. They can help activate a strategy (campaigns, events, etc.) or bring the strategy to life (products, services, experiences, etc.) with both consumers and employees.<\/p>\n\n\n\n

    Think of AT&T\u2019s Thanks\u00ae program, which brings its customer-centric strategy to life through a loyalty program with exciting benefits and perks. Or AXA\u2019s<\/a> Equitable launch event that galvanized thousands of employees around the return of a 160-year-old legacy brand.<\/p>\n\n\n\n

    \u201cTo drive profitable growth and deliver tangible impact, strategy must be put into action.\u201d<\/p><\/blockquote>\n\n\n\n

    Oftentimes, growth-focused brand strategy moves become a signature trademark of the brand itself. Take for instance, Gatorade\u2019s<\/a> G Series product line, which fuels athletes from warm-up to recovery, delivering on their leadership in the sports fuel market. Or Amazon\u2019s<\/a> Prime Day, an annual event with deals for Prime members, delivering on its strategy of unparalleled and expedient service for its customers.<\/p>\n\n\n\n

    Given that today, only 5 percent of CMOs<\/a> are highly confident in their ability to impact the overall direction of the business and to garner support for their initiatives among their peers, <\/strong>brand moves provide CMOs the opportunity to enhance their influence within the organization and demonstrate measurable outcomes. <\/strong>With brand moves, marketing leaders can drive a cross-functional team to deliver on high visibility programs delivering in-market impact.<\/p>\n\n\n\n

    What makes a brand move successful?<\/h2>\n\n\n\n

    Whether it\u2019s a business as established as Amazon or AT&T, or a startup in its beginning phases, all brands can adhere to four key principles to ensure their brand growth moves deliver effective and relevant outcomes:<\/p>\n\n\n\n

    1. Grounded in\u2014and amplify\u2014brand strategy. <\/strong>Brand moves should have a clear purpose rooted in shared human values<\/a> that resonates with all stakeholders, including employees and consumers. Rather than replace a brand\u2019s positioning, brand moves are complementary and play a critical role in putting purpose into practice. For example, American Express’<\/a> Small Business Saturdays is a brand move that embodies the company mission: helping customers and their communities thrive. While the purpose remains unchanged, it is brought to life in a way that appeals to small business merchants, their customers, and communities.<\/li>
    2. In-tune and in-touch with target consumers\u2019 needs<\/strong>. Brand moves use insights defined as the brand constantly listens, senses and anticipates needs and expectations of the target audience, taking action that demonstrates empathy in return. For example, Spotify\u2019s<\/a> Discover Weekly feature introduces users to a playlist of 30 new songs each week, based on users\u2019 past plays and preferences. With recommendation systems detecting their most-listened-to artists, songs and albums, Spotify keeps a pulse on what its users want more of\u2014to keep them coming back week after week.<\/li>
    3. Consistent, yet adaptive. <\/strong>These brand moves are cohesive and seamless, adapting to current context, yet consistently delivering an \u2018on-brand\u2019 experience. Due to their dynamic nature, brand moves should also be able to sit alongside other offers, without competing or cannibalizing. Look at Nike\u2019s<\/a> flagship store: a first-in-kind omnichannel experience that blurs the lines between digital and physical retail experience. This move is unique to Nike and unlike anything else in its portfolio, yet still delivers a cohesive, consistent brand experience that\u2019s recognizably Nike: a dynamic, active shopping environment as responsive as its digital NikePlus app and online platforms.<\/li>
    4. Continuous, inside and out<\/strong>. Brand moves provide a continuous, rolling thunder of action that influences both customers and employees. For example, T-Mobile\u2019s<\/a> \u201cUn-carrier\u201d campaign repositioned the telecom giant as different than traditional phone carriers. John Legere, its charismatic and quirky CEO, became known for sending out-of-the box tweets and gave motivational speeches that empowered employees to drive its success. Beyond a pure customer focus, brand moves fuel relevance from the inside out.<\/li><\/ol>\n\n\n\n

      What is the impact of brand moves?<\/h2>\n\n\n\n

      Brand growth moves that embody these four principles drive significant, positive impact on a global scale.<\/p>\n\n\n\n

      Since the launch of the G Series product line, Gatorade has seen increases of over $2B in franchise revenue and was the only brand in PepsiCo\u2019s portfolio to see double-digit<\/a> growth over five years. And in the last ten years of AmEx Small Business Saturdays, consumers reported spending an estimated total of over $120B at local small businesses, with seven out of ten adults aware of the (holi)day.<\/p>\n<\/div>\n\n\n\n

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      Author<\/h3>\n