Successful branding begins with people. People need reasons to buy a product or use a service. Meaningful branding is established through great innovation, knowing who your target audience is and creating relevant, high-quality products that makes consumers want to buy or use your service again.
In most companies customer intelligence is used to improve customer relationships by understanding a customer’s buying cycle or by knowing who their target audience is. These are powerful tools for identifying new innovations. Marketing research is crucial to the success of brand management in order to validate hypotheses. Without customer and competitor insight it is impossible to position a brand effectively and can lead to uninformed decisions.
According to Marketing Week ”Meaningful brands” that contribute to consumers’ health and wellbeing perform better financially than other brands, according to research.” More consumers nowadays are growing more health conscious, for instance; food manufacturers are feeding consumers’ desire for more healthy products by restructuring their brand building process for their products to form healthier options or alternatives. Brand commitment is vital for developing branding strategies for ‘healthy brands.’
To better understand the success of a business the use of online reporting tools such as Google Analytics and Google Adwords (Pay Per Click) can give companies an understanding of the flow of visitor’s on their website and then apply that measurement, collection and analysis of data to business decisions. Companies can gather this specific data about their existing customers and use this to establish new products and services to offer for those customers. Media and information technology brands are becoming more meaningful, because consumers rely upon them to stay connected to the world, and our friends and family, which contributes to their overall personal happiness. Since the 1990s, the Internet and information technology have changed the marketing environment and the strategies necessary for marketing success.
Top 10 UK brands
Top 10 meaningful brands globally