Values, purpose and loyalty. Back to the roots. The advertising industry has been using the same model for decades. However, brands have been more reactive in the last month than over the past five years, which makes me think this is the perfect time for a shift into what truly matters. This gives me hope. Yes, for those who know me, I'm an optimist and a dreamer. I've dreamed of this change for some time now.
The world is on pause, with everyone isolating in comfort or despair or somewhere in between. But for those in advertising, we're all thinking the same thing: What's next?
There is no shame for businesses to push different initiatives to survive through this crisis. It just needs to be done right. Many similar questions are on everyone's mind, such as: How do we keep our businesses alive? How can we create a safe and sustainable environment for our employees and families? How do we create value in times like this? How can we promote our products and services while being socially responsible? How do we stay relevant and connected to our consumers and audiences on a positive note?
Habits and traditions are being challenged and forced to evolve — fast. The need to connect with others through values and authenticity is more important now than ever. Which pushes me to think: What role should a brand play in this new reality, when purchases are down and advertising can seem insignificant?
Brands must become storytellers, and their content should be a destination that represents their core values. Being culturally relevant is key to be able to entertain and empower consumers. And in our new world, the best way to do this is through authentic narrative storytelling — not commercials.
Don't get me wrong. There is brilliant ad content out there. But I refer to the other 99% of crap we're presented with. That being said, "63% of consumers prefer to purchase from purpose-driven brands," studies find.
More than ever, brands need to be closer to their consumers and audiences. We need to be there with them, for them, helping them through these hard times. In order to connect and resonate with people, brands need to be authentic, useful and humble. They need to be helpful. Of service. Pushing nothing but their values and purpose through a positive, empowering message to reassure their customers that our brighter tomorrow is in progress today.
COVID-19 is forcing brands to pivot quickly — from promotions driving sales to building brand loyalty through purpose and values. In my opinion, this should have been our No. 1 priority all along.
Right now, we all have the opportunity to walk the talk, especially if we want to remain relevant in uncertain times.
For the past year, my team has been promoting the positive marketing effects of "branded entertainment," and how this enables brands to achieve many goals and objectives all at once while optimizing their marketing budget, maximizing their reach and monetizing their content. According to different studies, branded entertainment has been growing twice as fast as all advertising spend in 2018.
Pepsi, Porsche, Alfa Romeo, Dodge Ram, Hyundai and many other brands are doing this successfully. We've been appealing to top marketing execs that it is time to change the norm of traditional ads and promote values through stories to better engage consumers.
Yet people have been tough or impossible to convince — even though branded entertainment is a vehicle that helps brands get into the cultural landscape, helps connect and engage with audiences on an emotional level and builds long-term loyalty.
Now we find ourselves at a crossroads, as many brands slip into the ether and others struggle to find their footing. I believe this is our opportunity. It's the right time to step into the unknown and make our values and purpose come alive and become meaningful through branded entertainment.
To make it well-known, we must step into the unknown. Let's do it.
"loyalty" - Google News
May 05, 2020 at 07:37PM
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There Is Value In Shared Values (And Loyalty, Too) - Forbes
"loyalty" - Google News
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