Take Advantage of Branding Opportunities During a Reputational Crisis
Taking Advantage of Branding Opportunities
By Chris Largent, Marist College Intern
A little known fact about branding is that there are certain periods during people’s lives when they switch their brand loyalty. Instances such as a transition to college, or a marriage are two examples for branding opportunity.
Consumers are not born branded, in our early formative years we begin to embrace values, opinions, beliefs and brand preferences. As we age we are not as open to new ideas. Key opportunities for branding are prime time for marketers.
While at college, people tend to buy products and services independent from what their parents brought home from the super market. Millennials begin to buy their own food and work supplies. This leaves a lot of room for the development of brand loyalty.
People are more moldable to brands when they are young. People tend to have their preferred lifestyles and products set in stone by around the time they are able to vote. Take advantage of a younger customer base so that your brand sticks with them for life.
By the time people are married, they tend to have their brand loyalty in place. However, when they do get married, when shopping, they now have to consider their spouse’s brand loyalties as well. Don’t miss this key moment when couples re-evaluate their branding decisions.
Often times, new couples move into a house together and that house must be furnished and filled with whatever makes that family who they are. Take advantage of this time by gearing your products to new families, driving for brand loyalty that will last the rest of their lives.
Brands and Reputation
Brand recognition and loyalty is what drives today’s buyer-focused market. Customers feel more comfortable with their purchases when they know the brand they’re buying. In order to achieve and maintain loyalty businesses must invest a lot of time working on the reputation and image of their brand.
Even a reputational crisis can make people re-evaluate their brand preferences.
A great example of an opportunity to gain new consumers is during a brand crisis. Unfortunately, not all businesses seem to get what is gluten free, this is a big problem within this market, as some stores create the illusion of actually being gluten free. People that have a serious gluten allergy or disease bar them from consuming gluten. If it’s not gluten free, it can be seriously detrimental to their health. Mistakes like this can lead to a reputational crisis for companies and their brands.
Companies with brands that are able to maintain their reputation through transparency and loyalty easily rise to the top of their industry.
To learn more about branding or crisis communications visit us at http://hudsonvalleymedia.com or give us a call at 845.202.7087. Thanks.