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| How to Create a Consumer Superbrand |
Like the comic superheroes of our collective imagination, Superbrands possess extraordinary powers of strength, success, longevity and popularity. And what business or organisation doesn't want to command these qualities?
In today's challenging, fickle consumer marketplace, global business leaders are focusing their energy and investments on creating consumer Superbrands (aka Powerbrands). These 'superhero brands' can attract investment capital, confidence and clout on global exchanges, deliver shareholder value, and create a mesmerising consumer bond to its products and services.
So, who are the global consumer Superbrands and how do they attain this status? What are the critical factors for success and maintenance? And what does the future hold for them in terms of consumer preferences, knowledge and power?
First of all, consumer Superbrands share a few common traits and qualities:
They are leaders and innovators in their respective category or sector. These Superbrands dominate consumer consciousness and the media landscape, evidenced by either: marketshare (#1, 2 or 3); awareness and recognition (spontaneous and unprompted); or share price value and return on investment. They do so across at least three continents. To be a true Superbrand, the brand must appeal to globally diverse consumer cultures and geography. Superbrand owners understand the strengths and challenges of global vs local issues, continually experimenting, sharing, learning and rolling out new product developments and innovations to catch 'trendwaves' and re-define tastes and preferences. International brand owners such as Unilever, Danone, L'Oréal and Procter & Gamble leverage their global capabilities with local knowledge and experience to adapt and modify brands. They realise the importance of cultural tastes, rituals and preference in branding. Consumer Superbrands also span product or service sectors, often re-defining their category, consumer expectations and experiences. Defying the laws of description, these consumer Superbrands resist being pigeonholed or positioned based on a single product feature or sector description. More often than not, Superbrands re-define models, categories and terms that their consumers intuitively understand and believe in. For example, Starbucks re-defined itself as a retail experience that provided consumers with a 'third space' to enjoy their time, as well as their coffee. Superbrands are dynamic. They never stand still and are continually experimenting and challenging the norm to offer consumers more, better or memorable choice. They value and encourage consumer opinions so that they can listen and adapt. With one eye on their competitors and one eye on their future, consumer Superbrands get product and pricing right. They carefully balance and manage their resources and capital to deliver strong margins. They never confuse marketing hype with product quality, yet they understand that image and marketing are a brand's oxygen. And, lastly...a consumer Superbrand is loved. It is an object of desire that can both create anticipation while also reassuring that the experience will be predictable and consistent. These Superbrands connect on an emotional level with human needs and desires to offer more than just a running shoe (Nike), a photograph (Kodak), a fizzy drink (Coca-Cola) or a cup of coffee (Starbucks). They connect by fulfilling a role in their consumers' lives, which gives them entrée into an intimate and personal world. And just as with human relationships, consumers come to them with above average expectations. A failed promise or tarnished ethic can break the faith and trust. Which means a Superbrand cannot hide or lie. Truth and honesty must be present and evidenced.
So, who is seeking the consumer Superbrand truth? Simply, every brand manager or marketing manager the world over. Many try, but few succeed. The current race is on for the large twentieth century manufacturers to become Superbranded. The key learning for these marketing and manufacturing giants is that brand emotion cannot roll off a conveyor belt like a packaged good. A brand experience is not a flagship store that has profile but makes no money. A true Superbrand or Powerband is more than a world wallpapered with logos, slogans, product placement or advertising.
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| The challenge for Superbrands is to focus their brand essence on a compelling truth that is relevant to consumers and true to the product or service reality. |
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A true Superbrand dares to lead. It takes risks. It stays close to consumers by understanding where, how, why and when they live their lives. The starting point is never 'what role does a washing powder brand play in my life', but rather, 'what is my life like: what are the influences, demands, and memories that create and destroy my brand preferences?'
The challenge for Superbrands is to focus their brand essence on a compelling truth that is relevant to consumers and true to the product or service reality. Superbrands must then establish a territory that they can own that has strong, meaningful and differentiated associations. This territory will allow the marketing communications, sales activation and product R&D to develop a deeper and broader presence in consumers' lives and homes.
A Superbrand manager or owner knows they have achieved Superbrand status when the momentum of its success begins to challenge the business to maintain control with growth.
A few of the signs of success include:
New partners or complimentary brands seek association with the Superbrand to reach new audiences, extend brand loyalty or derive enhanced value. Consumer awareness and preference increases demand for the brand from grassroots level. Increased profile and exposure begins to create demand for more information and transparency not only for the product or service but also for the owner/manufacturer. Analysts and investors begin to take interest in the Superbrand. The knock-on effect of share price sensitivity and performance means the Superbrand and its management require greater levels of diligence to protect and manage all aspects of the brand, whereas previously it was purely marketing or promotions-oriented. The best and brightest talent in all areas of business seek to work for or with the Superbrand. Resumes and Curriculum Vitaes of the highest calibre arrive on the desks of HR teams with a willingness to sacrifice status, pay or package benefits for the opportunity to have the Superbrand added to their career history.
To maintain Superbrand status a manager must be vigilant and professional. Once achieved, it is as easy to lose as it was difficult to attain. By staying in touch with consumers, monitoring trends and competitive threats, keeping focused on the brand's essence and territory, whilst continually renewing the brand experience, a Superbrand can stand the test of time.
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Patrick Smith, European chief executive, FutureBrand, sister company to Weber Shandwick
www.futurebrand.com |
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