74% Brands Could Disappear But People Won’t Care. Why?
However, if brands meet their demands, they will be rewarded
Today, people are facing numerous challenges and uncertainties in a fast-paced world. Many are struggling with inflation and the rising cost of living, leading to increased anxiety as they work to make ends meet. “All are carrying a huge threat to our ability to survive and thrive. People have to adapt and change, and with that, what they require from brands is changing too,” said Mark Sinnock, Hava’s Global Chief Strategy, Data & Innovation Officer.
These challenges have shifted people’s expectations and desires, making them seek brands that not only understand their struggles but also provide real solutions and support. The only difference now is that it gets personal. While they still want businesses to help with social issues and support the planet, they also want brands to meet their personal needs.
Therefore, the key to brand success today can be summed up in one word: meaningful.
What does it mean by meaningful brands?
Brands that have meaningful purposes do more than just make a profit; they aim to create a positive impact on people’s lives. This is what sets them apart. When you hear the names of these successful brands, you often recognize them because they build real connections with their audience and continuously strive to improve everyday life for people. Also, people are more likely to use their products or services due to their familiarity and how well they resonate with the audience. This includes brands such as Google, Samsung and Microsoft.
Havas found that brands that meet these expectations not only gain trust but also tend to perform better financially over time. According to Havas, meaningful brands help the audience to be their own heroes, not only depending on the brands themselves. This is how it gets personal since they let the audiences decide where their money should go for meaningful causes.
Havas highlighted what makes a brand truly meaningful. The most meaningful brands provide personal benefits better than regular brands. This means they help consumers improve their health, happiness, and overall experiences, making life simpler and easier. They also consider consumers’ budgets and ensure their online safety. Additionally, people want brands to recognize their unique differences, be responsible for the environment, and keep their promises.
People know that they have their own power to change too
Consumers are not waiting anymore for brands to take actions, but instead they will take actions that benefit themselves and others. According to the report, 63% would speak against key issues and 71% would make effort to have a healthy lifestyle that benefits their body and mind. For others, they would not mind spending time or providing resources to help those who are in need. They would also want others, especially their closest ones, to be healthy.
Due to this, it does not matter if a majority of brands disappear. Why? They do not expect these brands to meet their needs because they could also do it by themselves. Not only that but there are also some powerful and meaningful brands out there that can make big changes to societies and deliver what they promise.
Brands should communicate less and prioritize taking actions
If brands want to be meaningful and distinguished among others, they should be able to deliver what they have promised. Consumers are tiring of hearing how brands wanted to put purpose into their plans and only saying they would do the work and spread benefits, but only a few made it. Also, people are more than willing to ‘cancel’ brands because they are not making efforts in demonstrating positive actions.
Not only that, over half of them would stop buying from brands that don’t have respect for the planet, society, and themselves. The brands that have different views and values are also one of the reasons they would stop buying from them. When brands actively meet consumer needs, people tend to feel a stronger connection to those brands because they stand out from the rest.
Conclusions
The fact that 74% of brands could disappear without people caring is a wake-up call for businesses. Consumers are no longer just passive buyers; they want brands that understand their challenges and help improve their lives. Meaningful brands go beyond just making money; they aim to make a positive difference in people’s lives while addressing personal and social issues.
To succeed, brands need to be genuine, responsible, and truly engage with their customers. Those that take real action instead of just making promises will build stronger connections with consumers. As people realize they can make a difference themselves, they will choose to support brands that meet their needs and inspire them to be part of something bigger.
