How Global Trends Impact Brands?

Staying afloat in this global trend can be a challenge for many brands. Savvy companies aim to build partnerships, stay customer loyal, and meet the needs of consumers at every touchpoint on their journey. Yet others are struggling to hold the link together.

Entrepreneurs that fail to integrate the voice of their consumer into their brand strategy, might find it challenging to keep up with the competition, so what can they do?

This article will explore a report by The Wall Street Journal – Deloitte, 2019, on two of seven global trends that will impact a brand’s future.

Lead with Purpose 

It is often agreed that businesses need to lead with purpose genuinely. Consumers influence a brand’s decisions — they can either create a brand or kill a brand. Therefore, when it comes to purpose, according to the research, “companies that lead with purpose and build around it can achieve continued loyalty, consistency, and relevance in the lives of consumers.”  

It is all about creating relationships with your customers. The message you are projecting into the minds of your consumers. The clarity that you bring to the market about the brand that makes you distinct from your competitor. As a brand, you can tap into your target audience and build confidence when you lead with purpose. To do so, you first need to be able to conduct your marketing research and understand what issues consumers are facing, so you can better solve their concerns. So, get to know your customer journey and fulfill every touchpoint of that journey.  

“The market will encourage the flow of business, but the consumer decides the path.” – D. Salkey Robert

Be a leader in your consumer’s journey. For instance, “Tech companies including Microsoft [lead with purpose] understand that the quickest path to a solution is teamwork, which is why it made its Azure cloud service free to use for nonprofits taking on COVID-19. It also donated $35 million to global response efforts,” according to CMO by Adobe.

To this end, you have the potential to build brand loyalty and, ultimately, equity.

Elevate Human Experience

Technology evolves to build connections across the globe massively in every aspect of business and human interaction. However, the report reveals that “when tech-enabled interactions lack a human touch, it can make people feel isolated, underrepresented, and unfulfilled.” Often, when companies take a short-sighted approach to decision-making and are not based on human-centered approaches, it can contribute to unmet customer needs.

Organizations can use technology to construct a customer-centered experience that will enhance human life. Amazon, for example, is a multinational corporation that reaches its customers.

“At the very heart of Amazon’s success is the total obsession with customer-centricity. Their motto is to start with the consumer and then work backward, not the other way around. This is supported by an amazing data capability that delivers Amazon an unparalleled insight into customer behavior, needs, and preferences,” according to Revelx.

Final Thought

For a brand to be competitive in this global trend, it should consider following a more customer-centric approach. And as we step through a new phase of transition, entrepreneurs need to create their brand around their customers’ journey. Although it can be an overwhelming task, brands that stay committed to their customers, addressing their pain points at every point along that journey, can remain ahead of the competition.

So, what is next!

Are you still pondering how global trends will impact your brand so that you can stay ahead of the competition? Let us take a look at why “Most Successful Brands Focus on Users — Not Buyers.”

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