How can brands extend their moment in the spotlight?
We write for the American Marketing Association about how recent events have cast a winning spotlight on a select few brands, plus consumer insight techniques all organizations can use to share the stage.
Depending on the industry sector or product, COVID-19 has had a vastly different impact on brands around the world. Our Group Services Director, Horst Feldhaeuser, writes about the spotlight that some brands have enjoyed (like Zoom) and that others have missed (such as travel brands) over the past few months. His most recent article for the American Marketing Association, How Brands Can Extend Their 15 Minutes of Fame, covers this swiftly changing landscape and how consumer insights can help.
He acknowledges that the market research industry has been scrambling to keep up with the pulse of consumer behavior and sentiment, but more change is on the horizon. Brands and businesses that have become popular during the past few months will want to maintain their momentum. Brands that have suffered will want to find their way “back on solid ground.” Both of these camps can use consumer insights to meet future audience needs.
A few core techniques are outlined in his article, including the need to have:
- Holistic data, coming from a variety of sources, can provide a deep, 360-degree view of your audience. “The trick is to harmonize these varied data sources so that they can tell you what’s really important to your consumers.”
- Fast access to insights that are continually updated with the latest data - a feat that requires the right technology in order to get “instant answers.”
- Trackers that are following the right metrics in our new reality. The “trend break” people worry about with tracker studies has already happened because of COVID. He argues that now is the time to “future-proof your trackers!”
Horst continues on to write about how many of the new ways of doing things that people have adopted are convenient and easy, and will likely be here to stay. On the other hand, many are anxious to return to pre-pandemic activities, at least to a reasonable extent. For most activities, there will be a natural balance. He writes about the example of the new work-from-home model, which most companies (including Infotools) are using long-term. “As New Zealand lifts restrictions due to extremely low COVID-19 cases, we have found a balance where most people work a couple of days in the office (safely) and the rest from home.”
The article concludes with: “Brands and companies need the right way to approach and use consumer insights to understand how they can continue - or renew once again - their place in the spotlight.”
For the complete article, visit: https://www.ama.org/marketing-news/how-brands-can-extend-their-15-minutes-of-fame/