August 31, 2021
Fostering meaningful brand relationships
For those brands that use that data right, the reward is love –and loyalty.
It’s fair to say that, according to insight from our Top 100 Most Loved Brands 2021, four pivotal factors top the bill...
Drawing on experience and data from our BrandVue platform, there are some key factors and approaches, which – if executed effectively – can help to drive deeper love for products and services through the development of more meaningful relationships between brand and consumer.
It’s fair to say that, according to insight from our Top 100 Most Loved Brands 2021, four pivotal factors top the bill.
We see advanced personalisation feature heavily among the most loved brands, especially within the media and travel categories.
Digital-first providers such as Netflix create trust and drive advocacy by showing they understand consumer preferences,
giving them the ability to recommend more accurately and use viewer or traveller data to successfully remove the pain points associated with overly complex systems or too much choice.
And we trust Spotify for the discovery of new music based on our listening habits – indicating that we better respond to those brands that provide tailored communications, and which demonstrate an effective algorithmic understanding of our data.
Ultimately, consumers are more willing to swap behavioural data for more personalised services. And for those brands that use that data right, the reward is love –and loyalty.
Empathy – the ability to detect and understand other people’s feelings came into its own in 2020.
No wonder: improving empathy can reduce stress, build more positive relationships– and even boost revenues.
So little surprise that those brands that respond with empathy to lockdowns and social restrictions will emerge with a growing fanbase that’s willing to express their brand love across social channels and peer-to-peer recommendations.
For a chocolate brand to understand that consumers respond better to acts of kindness and generosity over packaging and ingredients takes empathy.
For a fast-food restaurant brand to focus on catering for cautious customers, not keen on using public transport during the pandemic, takes empathy.
Empathy is the antithesis of personalisation and yet user data, and a real-world understanding of what consumers care about most, need to go hand-in-hand for a more complete view of the customer.
It’s always been a consumer hygiene factor, but coupled with empathy, convenience is one of the factors that has come into its own.
Understanding the reasons behind certain consumer behaviours, and developing a deeper understanding of user data to drive more personalised responses means brands can make themselves mentally, as well as physically convenient.
Physical convenience is how easy it is to buy something.
Those restaurant brands that partnered with Deliveroo, Just Eat or Uber Eats over the past 18 months have seen stronger brand love scores in return,
while the convenience of online ordering and ‘click and collect’ from brands such as Argos and IKEA also sees them score highly.
Mental convenience is being able to better understand the link between brand and consumer.
PayPal scores exceptionally highly for mental convenience, which is why it is only one of two financial services brands within the Top 100 Most Loved Brands 2021.
Nearly every single brand in the consumer ecosystem has had to adapt how it does business in the face of the pandemic.
Digital transformation strategies have been implemented at warp speed and for many brands,
ploughing a direct-to-consumer path or partnering with E-commerce marketplaces have allowed them to:
demonstrate brand values,
develop a better understanding of their customers
and adapt their messaging in real-time, in accordance with societal shifts.
Now, as consumers return to the high street and E-commerce behaviours start to plateau, brands will need to adapt once more and find a balance between the online and the in-person experience.
Those that welcome customers back with open arms whilst retaining convenience, empathy and a personalised online approach will feel brand love in return.
To download The Top 100 Most Loved Brands 2021 report, click here
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