November 2011 - c3centricity | c3centricity

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How your Br and can make a Bigger Impression

One of the (many) reasons Coca Cola is so successful, is because consumers Trust the br and. They trust that it will refresh them and help them to enjoy a relaxing moment, probably in the company of friends and family. Trust in a company or br and is what makes people believe in it, makes them loyal to it and often willing to pay more for it than other similar offers.

 

There are no Br ands without Consumers

A famous, but anonymous quote says that

“There may be consumers without br ands, but there are no br ands without consumers”

In other words, unless people purchase what you are manufacturing, then however you package and br and it, it will not succeed. IPSOS MORI in the UK went even further, when they said that “There is little doubt that an organisation’s reputation is its most important intangible asset. Managed effectively, it can increase loyalty, commitment and support from a wide range of stakeholders. A strong reputation creates a positive halo around an organisation – generating a reservoir of good will as well as increasing the effectiveness of its marketing and communication activities.” In the case of Coca Cola, the br and is the company, and as such needs to abide by the same rules as br and building.

 

A great example of a great Br and

Coke’s recent promotion “the Coca Cola Friendship Machine” is a typical example of how well Coca Cola underst ands its consumers. This knowledge and underst anding comes not only from market research, but from all employees putting the consumer at the heart of their business. And they don’t just talk about how important their consumers are to them; they walk consumer-centricity day in, day out. They demonstrate it in their constant reevaluation of what they are communicating and how they are doing so.

 

Trust enables mistakes to be overcome more quickly

To be truly consumer centric takes work, but all (CPG) companies need to reevaluate how they are integrating their customers into everything they do. They need to start every decision or plan by thinking about their customers first and what they would like the company to do. Even when there are problems, recalls or disasters to face, customers are more likely to be underst anding and stay with a br and that is open, honest and transparent; a company that tells people what has gone wrong and how they plan to put it right.

Whether good or bad, today the web means that news is shared globally FAST; you can’t avoid it. Everyone makes mistakes but people – and companies – we trust admit it, learn from it and move on. Isn’t that what you want your customers, consumers and clients to believe you can do too?

 

For more ideas on building br and equity: https://www.c3centricity.com/home/engage/

 

This post was first published on June 30th 2011 on C3Centricity Comments

 C³Centricity uses images from Dreamstime.com

How to Create Better Vision

Every company today has a vision and mission statement that it shares both internally and externally, to explain who they are and what they want to achieve.

Surprisingly – or should it be sadly – few B2C (Business to Customer) companies include the customer in these and yet it would not exist without them:

“There are customers without br ands, but there are no br ands without customers” Anon

If you are in a people-facing industry, it is vital to start your vision and mission with clear statements that your customer is at the heart of your business.

Past, present, future:

In many companies the vision is based upon past performance, and forecasts for the future are then calculated from current sales trends. In today’s fast changing world, the future is less and less like the past, so it is unwise to rely on backward looking measures alone. A better way to prepare the vision for an organisation, is to review the mission statement, what the company is aiming to be and then to see how this fits with its target audiences. If changes are necessary, then societal trends can help to identify them.

 

Foresight:

Foresight is an essential part of the planning process, as it will enable a company to assess its vision with the future rather than the past in mind. Society is constantly changing; it is said that a generation today is as little as 5 or 10 years, whereas in the near past it was considered to be closer to 20 years. What this means for a company, is that its strategy and plans will need almost constant adaptation, since what worked just a few years ago is no longer relevant for today’s customers.

One of the biggest challenges for an organisation wanting to introduce trend following, is that there is too much choice. There are companies that are specialised in trend following, such as Mintel, TrendWatching, Yankelovich (now part of the Futures Company), McKinsey’s Global Institute, TrendHunter, Global Trends, to name just a few. Many communications agencies also propose their own trend following services, McCann Pulse being one of the better.

When you are ready to introduce trend following into your organisation, it is vital that you agree on ONE trend following tool for the whole company and then select the most relevant trends for each business or service. This will avoid duplication of efforts, facilitate exchanges within the business and ensure everyone both speaks the same language and underst ands the trends and their implications for the company in the same way.

Some of the most talked about trends for business to follow at the moment include:

  • Aging Baby Boomers
  • Authenticity
  • Heritage, nostalgia, tradition
  • Community, crowdsourcing, innovative co-creation
  • Making the world a better place
  • Urbanization
  • Health and Wellbeing

 

Scenario building:

So you now have an agreed list of trends you are following in the company, but that is just the beginning. Every company is – or should – be watching societal trends, so there is NO competitive advantage to doing so. How you can get the edge over your competitors is by developing them into plausible future scenarios and then identifying their drivers and trigger points. Scenario planning can often be done with the same organisations you are using to follow your trends, but is of course a proprietary exercise and thus will cost you the same, if not even more than your trend following investments. As it is this second step that delivers true competitive advantage it is definitely worth the extra money.

Scenario planning, is a strategic planning method that enables you to make flexible long-term plans and also be better prepared for the most likely future events. Most scenario work is done by extending the trends into the future and then combining them, to see how they impact one another and also your business. Two to three axes are then identified on which the most extreme changes will occur and the corresponding “new worlds” described.

The last part of the exercise is to then position your categories and markets on the trends and to identify the drivers and  trigger points, which will enable you to be forewarned of possible market changes.

What changes are you following today and how are you working with Scenarios to better prepare your organisation? Please share your most creative ideas.

Need inspiration to improve your own business’s preparatio9n for future opportunities and risks? Check our website: http://c3centricity.com/home/vision or contact us here.

For more ideas on building br and equity: https://www.c3centricity.com/home/engage/ – See more at: https://www.c3centricity.com/blog/how-your-br and-can-make-a-bigger-impressio/#sthash.FIfaCFhb.dpuf

C³Centricity uses images from Dreamstime.com

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