wordpress-seo
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By Doug Stephens<\/p>\n
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Only a short time ago, the value that brands provided to consumers was chiefly two things – familiarity and consistency. Shoppers had so little access to objective information about products and services that, amid a field of unknown and untrusted alternatives, a familiar brand logo, jingle or tag line provided the much-needed cognitive shorthand to help them confidently choose. \u00a0If you were a traveller in a strange city, you needed only to find a familiar Hilton, Marriott or Holiday Inn logo to have a consistently predictable experience. If you were shopping for beer, you knew what to expect from Budweiser or Miller \u2013 there were no surprises. Familiar and predictable, that\u2019s what consumers wanted from brands and that\u2019s exactly what many big brands gave them.<\/p>\n
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All this has now changed. \u00a0Shoppers are no longer blind to their options.\u00a0 With a couple of taps of their smartphone they can gather an immediate and even geospatial understanding of product and service alternatives available to them in the moment.\u00a0 Moreover, they can easily evaluate those alternatives by seeing what others think.\u00a0 They can take virtual tours of stores, restaurants and hotels, watch videos of products and services.\u00a0 They can be completely and objectively informed in a way that was unimaginable only 20 years ago<\/p>\n
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Consequently, shoppers \u2013 especially young<\/a><\/strong> shoppers – are no longer as dependent on brands to serve as familiar shortcuts to a decision. Now, the same traveller in a strange city can just as easily use their mobile device to find an outstanding boutique hotel to stay in.\u00a0 The beer drinker can quickly gather online recommendations to learn what local craft beers are popular. Instead of deferring to the familiar and predictable, the shopper can confidently venture out to discover the new and exciting in a risk-free way.<\/p>\n <\/p>\n So, if we no longer need brands to be beacons of familiarity and predictability, then what do<\/em> we expect of them? \u00a0I believe that now, more than ever, we need brands to be innovators, always working to push us out of our comfort zone by offering new products, new experiences and new services that interest or excite us. \u00a0\u00a0We now look to brands to catalyze change…constant change.<\/p>\n <\/p>\n Some brands seem to implicitly get this.\u00a0 Starbucks, for example, is constantly introducing new products, services, technologies and store concepts into their model.\u00a0 Just when it seems they might become predictable, they introduce something new to stoke our interest and augment the brand\u2019s appeal.<\/p>\n <\/p>\n Amazon too is continually proffering new services, devices, concepts and products. And while some are quick to point at Amazon\u2019s failures, like Fire Phone<\/a><\/b> for example, I would argue that even those failures can and should<\/i> be counted as strategic victories because, if nothing else, they reaffirm their position as an innovator.<\/p>\n <\/p>\nThe New Value Of Brands<\/h2>\n