Brands need to be genuine and tell the truth – or the humble consumer will let you know about it in a flash. Fraser Bradshaw, managing director of the leading creative marketing agency SAINTNICKS, on telling your story effectively.
Better make it good. If you want to interrupt the time-poor consumer these days, you had better have something good to say. And more importantly, you must tell the truth.
A significant issue (and opportunity) lies in the simple fact that consumers now control the media. When a brand could once fix and control its own message and broadcast this to its ‘target’ audience, conversations of real value are now earned and owned by real people, with their own real audiences, and with real volume and power. But this in itself is not news.
While there is still a well-fought debate out there about who controls the brands (social-media commentators will argue that it is the consumer, while the corporates assert that they are owned within the boardroom), there is a bigger issue for all: the steady erosion of control. And no-one likes losing control.
For many, this loss of control occurs from the outset through the setting of incorrect goals. At a recent conference, I asked the attendees how many of their CEOs had, within their company vision or mission, the aim of ‘increasing shareholder value’? There was a hesitant, but honest show of hands. If nothing else, the past decade has provided many illustrations that compan-ies focused on creating shareholder value often end up destroying almost all of it. Even companies that have become PLCs to enable them to create shareholder value ultimately fail to do so. The most profitable companies are not, in general, the most profit-orientated.
The experience economy
Our economic horizons have changed. We live in an experience economy, driven by innovation and authenticity – and no-one likes to see boardroom manipulation reflected in their brands. Even the retailing of a humble cup of coffee has created new and essential customer experiences.
While coffee now commands a strong price, the brand can quickly fall from grace. YouGov’s BrandIndex found that Starbucks, which was recently criticised for paying tiny amounts of UK corporation tax on revenues of £3bn over 14 years, has seen a 30% fall in popularity since the news broke. What Starbucks saved in tax it appears to have paid for in reputation, which is not great if your brand is based on community and friendship.
Businesses have had to think broader than their own category and expectations are often set outside their own industries. Get it wrong and you’ll soon know; the consumer will do this for you.
We have seen this through the growth in ‘icon toppling’ as big brands fall from the strength of user-generated content and rise of vigilante consumers, as punters manipulate marketers and the marketplace, exposing the truth. Those brands still set on following their competitors are committing to decline. It is no longer enough to compare and contrast within the industry: your competition could – in reality – be anyone.
The real brands in the ascendancy are those that continue to focus on innovation and also tell their stories well. Innovation is often misconstrued as being technology-based, which it is not – for technology is only new if you were born before it was invented. Innovation in business is quite simply a combination of finding the correct goals and employing fresh thinking to ensure you achieve them. And this means embracing change and sharing control.
Thinking small is key
Cost control and the reliance on supply-chain efficiencies should be a given and not the solution. We have to challenge companies to seek new sources of business growth and determine how we can stimulate the market to create more demand. We know that, in our new experience economy, customer interaction has to be brilliantly intuitive and authentic.
We recommend to clients that they start by thinking small. In most companies, the most senior people with the most authority also have the biggest budgets. It is generally incumbent on them to make big changes and make a significant gesture as a legacy. But this is often high risk and can be their downfall.
It is often small, genuine acts and changes that can have the most profound impact. This ‘micro perspective’ often challenges the macro views of business. In a world driven by globalisation, mass production and the stealing of share, a growing number of consumers are seeking the truth.
There is a trend towards familiarity and things from the past as we see the extension of ‘local’ into the world of the authentic, eco-friendly and obscure. Brands that are engaging, with life-story labels, tend to shine. These brands ultimately tell the truth.
Community value
Complicated lives are driving more simple choices. We have seen many significant changes in societal trends, as consumers feel the need to protect themselves from the unpredictable realities of the outside world. With the growth and success of women in management, we have also seen a marketing shift away from a hierarchical model to a ‘relational’ one.
Successful companies recognise this and are creating more personalised experiences, in an endeavour to make a shift from the commoditisation of product and service delivery. This is often through small details and story-telling as a way of creating new shareholder value.
The importance of community remains key. We talk now about the ‘four Cs’ (and not simply the ‘four Ps’ of marketing): content/collaboration/community/culture. This notion will increasingly be about supporting one’s neighbourhood or region, to regain a sense of place and belonging. “Bought locally, ordered online and delivered to your door” sums up what online initiatives such as www.poptotheshops.net offer some local residents.
New year, new thinking
Share control. As the year gets under way, there needs to be a fresh commitment to new thinking: collaboration, new content, ideas broader than your own category – the creation of authentic, honest experiences and a new take on innovation.
Make sure you create a brand story that is genuine, with a commitment to do good. And make sure you tell the truth. If not, your consumers will let you (and everyone else) know about it, in an instant.
Fraser Bradshaw is managing director of the creative marketing agency SAINTNICKS, which is based in London and Bristol. Visit www.saintnicks.uk.com
