In a report published recently by HAVAS, researchers discovered that brand meaningfulness significantly impacts sales and directly affects ROI. In conducting the study, HAVAS, whose “Meaningful Brand” metric relates to how consumers’ quality of life and wellbeing connects with brands, surveyed over 300,000 people in 34 countries, to understand how they related to 1,000 brands in twelve distinct industry categories. Among the metrics considered was trustworthiness, association and relevancy, and how the brand makes consumers lives easier. The results were conclusive: meaningfulness matters to customers. In response, we explored the key elements that make some of the top performing global brands so special.
1. They make an effort to understand the customer
In the HAVAS report, Maria Garrido, Global Head of Data & Consumer Insights at Havas Media Group concluded that “brands that enhance the wellbeing of people, communities and societies are more meaningful.” From Garrido’s conclusion, it is clear that the brands who were best able to understand the needs of the customer– and thus delivered the most relevant products and services–tended to be the most successful. Understanding what matters to the customer will help brands deliver better products and appeal to a more loyal audience.
2. They show the customer that they can relate
In the age of scalable personalization,it’s important to customers that feel that brands can relate to their needs. Rather than approaching customers as larger-than-life corporations, the HAVAS study suggests that brands that focus on relatable and familiar messaging are able to better connect with customers. Using new tools to understand audiences based on nuanced qualifications and then by applying interest-based persona segmentation to larger audiences, brands are better able to connect with customers with an air of familiarity.
3. They offer helpful advice
In the report, HAVAS discovered that 61% of the brands that scored highest were highly engaged with customers by providing relevant information about the brand, and offering live customer support. The most successful brands are able to understand their consumer’s needs, suggesting meaningful conversation with the customer is key to loyalty.
Our world is a chaotic one. Customers are bombarded with massive volumes of information on a daily basis. As brands struggle to find new ways to stand out, research suggests the best way is to get personal with the customer by becoming a meaningful part of their world.
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