Number of customer’s decision parameters is increasing constantly. Best proof of this is when older generations blame the younger generations for being spoiled. This only means that younger generations evaluate more parameters than the older ones.
One of the purchase parameters is brand relevance. It reflects how relevant the brand is for customer’s value systems, expectations, plans, ideologies, ambitions. Simply – how much importance it has in their daily lives beyond product functionality.
Brands that are highly relevant are able to participate in daily events of customers. A child’s birthday is not complete unless there is an iPhone video. An energy company is not considered unless it prevents climate change. On the opposite, brands that are not relevant are disconnected from the daily trends and only sell hard products. Customers do not think of them as relevant parts of their lives, but as a solution they found only when they had a need, which won usually with a lower price or another hard value.
For companies to build brand relevance they must be able to take a role in daily events of their customers. They must follow trends and take action based on trends. The most relevant brands have the power to create trends. Brand relevance is much more comprehensive than product and content design, marketing, or sales. It requires that the entire company is highly agile and ready to take action by designing products and content to follow trends.
Notre Dame fire is an unfortunate example of how some brands are relevant and others are not. Twitter is a platform where this can be evaluated. For example, it definitely felt strange that some brands and users on Twitter were sharing the Notre Dam fire news, while others were still promoting their products and following their usual agenda. If Twitter accounts are managed by bots or staff with rigid contracts and training, brands miss out on trends. Simple lack of reaction to a major trend like this can lower the brand relevance and sales because it is a symptom of a company which only wants to sell and not be relevant.
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