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Whilst we do not profess to have found the 'Holy Grail' for successful brands, we do believe that authenticity is a key to a sustainable brand and business in the 21st Century. Brands are part of the fabric of our lives. They make deep personal connections with us, they are an intangible asset, and the value of that asset to a business is dependent on people sharing positive perceptions and having positive experiences of the brand. When people feel connected to a brand, and it remains relevant to their lives, they show loyalty and the business thrives. However, experience tells us that businesses do not always meet the expectations communicated through the brand, so the brand is not always truthful, honest, authentic in actions and words, and it is our belief that people will no longer tolerate false promises, it's important for brands to be real, to treat people with respect. When people see through the deception, when their needs are no longer being met, they feel uncomfortable doing business with the brand. The value of the asset declines, and the business starts to notice signs of failing - declining sales, reduced traffic flow, limited new business, and a reduction in loyalty. An example of this is M&S, when the experience of the brand is disappointing, and it has not understood the needs of it's people, and the promises it makes are not reflected in people's experience, they are no longer loyal. They walk away from the brand. But, over the last year M&S has connected back with their customers, they have listened and responded, and people are returning, and the business is flourishing. |