The loyalty that a consumer can have towards a brand has decreased significantly in recent decades.
Several sociological factors have caused our attachment to a brand, or at least the reflex we may have had in the past as consumers to always trust the same products, to crumble.
It is difficult to explain the reason for these changes in consumer habits, but Kathleen Kusek, a Forbes contributor and retail specialist, identified several factors that may have caused today’s consumers to have a lower sense of attachment to certain brands, certain types of products, compared to 30, 40 or 50 years ago:
“The erosion of consumer loyalty among the most esteemed brands represents a changed philosophy of buying. The standard for brand switching is no longer the failure of a brand to perform but rather its inability to seem like an entirely new and interesting option at every single purchase cycle.” – Kathleen Kusek.
She goes on to present a list of factors that have had an impact on consumption patterns:
- Labour mobility;
- The decrease in religious adoption and the now possible change of one’s religion during his or her lifetime;
- Today’s standards in terms of couples, divorce and separations;
- The lack of trust of younger generations in governments, the press, corporations and financial institutions;
- Our way of thinking today.
In her article, she explains very well how change gains over stability.
And what is the link with content you might ask?
At Toast we constantly reiterate the importance for a brand to bring value to its consumers in the context of a good content strategy. This is essential. If a brand lives in the minds of its consumers only for the product it markets, “Change will win”.
This is the new standard. Your brand, your television channel, your corporate DNA must bring value to all stakeholders. And content is the perfect vehicle. A gold watch after 25 years of employment or a gift-at-purchase will not do the trick.
How does your brand stand out from the competition in terms of bringing value?
If you would like to see your brand bring more to its consumers, contact us and let us know about your current projects and we could support you in your efforts to implement a new dimension to your content strategy.