This great article from ChiefMarketer.com covers the trend in recent years of the ever-weakening of brands as consumers get more and more of a stranglehold on brand perception. The article provides research stating:
· Consumer brand trust has dropped 50% in just under a decade.
· Perception of brand quality has declined by 24% in the past 13 years.
· The perception of brand differentiation declined in 40 out of 46 consumer brand categories.
The author of the article, Ted Mininni finishes off the article with this great summary that, i feel, is everything that Beyond Philosophy and others in our industry are trying to teach organisations about the future of their brands:
Engaging the consumer with better experiences, better service and greater responsiveness begins from the inside of the organization at all levels. It permeates every customer interaction with the brand. It creates engagement, excitement and loyalty. It feeds on itself and builds momentum.
How do you compare? For those of you using Net promoter as a measure you may wish to compare yourself against these companies… Have a read of this article by Bruce Temkin who compares some of the top companies for their Net Promoter Score.
