Twitter was built on 140 characters. Even though the limitation was serendipitous, it remains a defining characteristic of the brand in the minds of many. Concise thinking, hash-tagged to provide simple, global connection – there’s the Twitter value equation in a little under half the consigned quota. But the question Carl Miller asks is a good one. What happens when the idea that defined you starts to work to inhibit you?
Personalisation is the quest of the moment for so many marketers, with 70% of executives interviewed by Forrester saying it is now of strategic importance to their business. (What may surprise you, as it did me, is how generalised so much marketing still is.)
Everyone strives to win, but what happens when you compete in a market where you are, and can never be more than, number two? If you’re Pepsi, for example, or Bing, how do you find the energy to continue to build out a business that will stay where it is, behind a massive incumbent? How do you do that without becoming uninspired, distracted or stuck?
There’s crises and dangers everywhere we look. From ISIS to mass shootings, pandemics to weather events, Greek debt to commodity slumps, the actions and repercussions stream onto media in a seemingly endless scroll. In that sense the world we live in has changed little from when I was a child.
What have you got to say for yourself? How and when should a brand take a stand? And if you do, should you go hard or go soft? Talking is a critical part of brand behaviour.
The sharing economy is substantial. Uber’s valuation just hit $50 billion. Airbnb is valued at around $20 billion. And Entrepreneur believes the sharing economy’s size in five key sectors will reach 335 billion by 2025. As this article explains, “The catalyst behind the sharing phenomenon are technology platforms—big data and mobile—allowing consumers to share anything, anywhere, and anytime at an affordable price. Sharing is ubiquitous today.”
Brands sent powerful messages through how they price. Price can be influential in portraying a brand as affordable and ‘on the side of the customer’, or exclusive and just for the few. It can generate responses ranging from the thrill of a bargain to the indignation of a price tag that seems far too steep.
It’s tempting to believe that every brand must be vastly different and that every opportunity to push the boundaries should be taken if the brand is to win. But is there a case for normality that we’re missing here? Should, as Jay Bauer has suggested, brands stop trying to be amazing and just get on with being useful?
When I ask people “Which brands do you hate, and why?”, the names and the reasons for disliking said brand come back thick and fast:
It’s tempting to think of consumers in binary terms in relation to the brands you are responsible for: in, or out; buying, or not buying; loyal, or not loyal. But for many brands, the status of an individual can be more complex. At any given point in time, people can take on other roles in relation to your brand, and in relation to your competitors’ brands, that nevertheless have a direct influence on your competitiveness.
