Branding: it’s what the savviest consumers love to hate. And when done right, what they hate to love.
For the cynics among us, the very word “branding” conjures up images of advertising executives trying to promote all-consuming consumerism and an outdated version of the American dream.
It’s perhaps because of this negative connotation that the rampant consumerism of the early 2000s has become much more thoughtful in recent years. Sales of luxury goods and cars are down, and McMansions are decidedly passé. Instead, the whole ideas of luxury and consumerism have changed. The things you buy and display are extensions of your personal brand. All the better if they happen to get a lot of likes on social media.
This all fits in nicely with our countless time-saving app services. Paying someone to run errands for you or deliver meals to your door isn’t entirely about not wanting to do those things yourself; it allows you to spend your time on things you care about more. Today’s true luxuries are spending time with family and friends, drinking wine and eating delicious food. The smartest brands are tapping into these new status symbols.
So, how can companies, who must sell products to survive, win the hearts and minds of people who have no interest in accumulating things?
To be clear, most people haven’t decided to eschew their fashionable clothes and artisanal cheese in favor of wearing burlap sacks and eating bugs. People still want to buy things, they’re just being more conscious and intentional about it.
That consciousness is leading to two major shifts: a move toward novel experiences and travel, and an insistence on transparency. Millennials in particular feel motivated to “vote with their dollars” and support brands that complement their own values, and other generations are following suit. Nothing will turn off the masses like hypocrisy, inauthenticity, or worst of all, an actual scandal. In fact, more than half of Millennials have boycotted a company for irresponsible or deceptive business practices.
With countless brands to choose from, consumers know that if they want to boycott one brand, they can turn to five more to meet the same need. How do brands compete in that kind of environment?
Sarah Kimes, Associate Vice President at CallisonRTKL, says it always has been and always will be about creating an emotional connection with customers.
“The best brands have always understood that they have to create these emotional connections. Those rules will never change. It’s just that today there are more channels and higher expectations.”