Critical Factors in Brand Success [INSIGHT]

Facing universal skepticism from consumers and stiff competition from a sea of competitors, how can a brand differentiate itself to win a loyal following—or at the very least, to prove itself worthy of its customers’ time? It boils down to two essential elements: trust and dynamism—the consumer’s perception that a brand has delivered on the promises of the past while simultaneously helping lead the way to a better future.

A new global study from Havas Worldwide, “Building Brands that Matter: The Sweet Spot Between Trust and Dynamism,” explores the critical factors at play in brand success and consumer engagement. Tracking factors such as transparency, innovation, authenticity, utility, and sociability, the white paper identifies what people around the world truly value in their relationship with brands.

Topline findings include:

    Social brands win
    The value of “local” is tied more to actions than provenance
    It’s no longer acceptable to operate solely in pursuit of profit
    Consumers want to partner with brands to drive positive social and environmental change
    Transparency is essential to trust
    An authentic brand history is a valuable reputation boost
    Employees can be a brand’s best advocates—or its most damaging detractors
    Mobile consumers want seamless digital interaction

“This study adds further compelling proof that people today want businesses and leaders to be more socially responsible. They understand that business has to make money, but they want it to make money in the right way. They now expect businesses to have a purpose beyond just profit,” said David Jones, global CEO of Havas. “Social media has created a world of radical transparency and given people the power to hold companies accountable, to reward the brands that act responsibly, and punish those that don’t. The new price of doing well is doing good.”

“Our study reveals a powerful insight about brand strength: It is based on what people believe about where your company is headed and the value you will provide to society along the way,” said Sarita Bhatt, director of global strategy at Havas Worldwide. “Truly dynamic brands—those that are authentic, purposeful, sociable, and useful—will be the ones that engage consumers and win their loyalty.”