Farnaz's Insights On ...
More is Less: Future of Branding
One more blackberry, one more orange juice, one more sandwich, another credit card…just slightly better. Incremental differences are not game changers. Sometimes more innovation can degrade a brand equity and position you in the manufacturing mindset– don’t speed up the line or it will never slow down.
Yes, freedom of choice is essential in pursue of happiness, but too much freedom can cause anxiety and confusion. Too many choices numb us, forcing us to opt out or make uninterested decisions.
Marketers often find another new & improved product, and create a campaign around it. Much more effective is to find a small and eager target, find a branding story, then make a product that resonates and makes the story work.
At the end of every business line, there is a human being. Think of these tips for future branding and relationships:
- Use and align values and beliefs as the blueprint for growth – earn trust and attention and you will have loyalty.
- Consumers will pay more for superior service, or give it up just for cheap. Don’t bite more than you can chew, know your benefits and trade-offs.
- Be transparent and authentic. Consumers know when you’re not being honest, so do your competitors.
- Satisfy higher human needs and connect through Purpose. Sell a story that people want to believe. Content that broaden their horizon, even when uncomfortable.
- Endorse brand humility. Once you believe you are exceptional, you stop innovating. Become your own future rival. Re-earn trust, attention and loyalty.
- More is Less…unless you want to be Netflix or itunes, and put everything out there letting the market sort it out. But where is the lever?
What type of 4-letter word is profit? It is and should be “good”. Over-branding can kill profit.
Farnaz is a thought leader, author, speaker and consultant focused on helping business and social leaders embrace and capitalize on rapid cultural macro trends. Published author of the book, The New World Marketplace, she is the go-to-expert on how women, youth and multiculturalism are shaping our future. If you are ready to embrace and profit from these 3 fastest growing trends, Farnaz is your guide.
NEW WORLD MARKETPLACE"
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