A brand might appeal to audiences at first but it is bound to lose its popularity if a better brand comes along. It is easy to see why. Modern consumers have changing needs and they prefer brands that fulfill these needs. Brands that are not fast enough, lose relevancy.
And we all know what happens when brands become irrelevant. They eventually die – a fate that every brand acknowledges and fears. This fear is what makes Twitter go with an unorthodox branding strategy by live streaming the NFL season. It is what makes even successful brands go through continuous rebranding even though the odds still seem to be in their favor.
What does it take for a brand to stay relevant? That is what we are here to discuss. Previously, we discussed how social selling can bring value to a brand. In this post, we will discuss why relevancy is just as important.
Brand Mortality Is A Reality
In this day and age, a brand is judged by its relevancy to audiences. According to Mark Di Somma, brands need to acknowledge this fact –
“The scary reality for brand teams is that every brand idea has an end date. As some point, the idea you pivot your brand around right now is going to run out of relevance – and in the iterative economy, where consumers are hooked on new versions and upgrades, the timeframes within which you must initiate, agree and implement bold developments are continuing to condense.”
Take Kodak as an example. The Japanese brand might have pioneered digital photography but it made a grave mistake – it tossed the idea aside in favor of a film based business model. As a result it got left behind by brands that capitalized on digital photography.
Relevant Brands Are Consumer Centric
The most effective way for a brand to stay relevant is to be customer centric. Marketing and advertising expert Natalie Staines says that if companies hope to put the customer in focus, they must learn to connect with them in meaningful ways –
“It seems simple, and it’s probably something all marketers think they do…But being customer focused is different than being customer-centric. It’s more than just delivering great experiences – it’s about understanding the lifetime value of a customer and building a relationship to grow business.”
Brands that rely on social media are a case in point. Take Oreo as an example. The brand is always churning out fresh and relevant content on its social media channels. In one instance, it created a Vine video series spoofing classic horror movies featuring cookies.
Brand Relevancy Is A Continuous Process
Samsung, Microsoft and Apple recently topped the list as the most relevant consumer brands today. All three of them have one belief. And that belief is that brand relevancy is a continuance process. These brands know that if they are to stay relevant, they need to engage consumers consistently. It is what allows them to produce products that actually have tangible benefits. And it is also why their products are considered to be indispensable.
Forbes contributor Glen LLopis explains why consistency is important for brands to stay relevant –
“Brands must have purpose by producing goods and services that improve the lives of consumers and enhance quality of life. With today’s savvy consumer, it’s imperative that brands focus on how to better interact with them, how to build stronger relationships, and how to ensure that those relationships generate trust and meaningful engagement over time.”
Brand relevancy is integral to a brand’s survival. And brands that hope to survive must ensure its continuity.