We are currently dealing with demanding and well-informed consumers. We can talk about the end of standardized sales and unique processes: on the market, there are increasingly rare examples of demand exceeding supply.
A few months ago, meeting in the heat of conversation with good friends, someone remembered to ask what is the best wine in the world; Some answered that they were without a doubt French wines, others claimed that those of Chilean origin do not ask for anything from the French, and there was no shortage of those who were inclined to modern Argentine or Californian wines. That discussion seemed more controversial to me than talking about football or politics at election time. I thought someone would be hurt if they didn’t stop that conversation; At that moment, one of the participants of that meeting asked me what my point of view was on the subject; to which I replied that the comments made seemed wrong to me: Simply, for the server, good wine is not related to its price or place of origin, but to experiences and emotions.”
Who determines that one product is better than another? What methodology should be followed to be successful in the market?
The scales and commercial reports of large international corporations are clear, there is no doubt that the product era is coming to an end. On the market, there are increasingly rare examples where demand exceeds supply, which is what we are currently experiencing demanding and well-informed consumersthe end of standardized sales and unique processes.
There is no reason to panic, sooner or later every cycle comes to an end. It is the end of an era and the beginning of a new one. Era of service; an age in which the essential and the divergent prevail, that where the key to success is not in the tangible, but in the giving creative brand experiences.
What makes Apple, Coca Cola, Google or Starbucks one of the most valuable brands on the market today?
According to the global ranking of brands for 2014 prepared by interbrand; Coca Cola occupies one of the first places in the mentioned study with an approximate brand capital of 80,683 million dollars and an annual growth of 3.4%; This information is interesting if we consider that the statistics published by The Wall Street Journal at the end of 2013 show that sales of carbonated drinks have been falling by an average of 6.82% per year over the last 3 years.
How is it possible that there is a decline in the basic products of this company, and at the same time the value of the brand is increasing?
It’s simple, since the beginning of this decade, the company has been more dedicated to selling experiences to the end consumer than products; The problems we constantly talk about are not whether one carbonated drink contains more sugar than another, we are talking about creative campaigns aimed at positioning the brand in ATL, BTL and TTL media; We talked about sharing Cola soda with Arturo, Gerardo, Adriano and even looked in stores for our names engraved on a simple can.
Do we really go to Starbucks for the quality of the coffee, or do we go for perception issues and the comfort of feeling at home?
Why are we willing to pay exorbitant amounts for a smartphone when we don’t even use 30% of its functions? Are we getting a mobile phone or personalization experience through apps?
The reality is that consumers are drawn to new experiences, things that are different, things that break the mold.
The mistake that companies often make is to think that they know the consumer perfectly, the consumer who was susceptible, and not the current customer who is fickle and constantly changes his decisions according to the stimuli of an increasingly complex market.
Brand experience is critical for a business company to be successful. It’s not about transfer, it’s about turning the product into a five-sense experience.
In a market study conducted by Signal Consulting Group Mexico in mid-2013; where a sample of 1614 elements was subjected to sensory perception tests, it was found that 31.14% of individuals were sensitive to the acquisition of brands associated with visual stimuli, 28.23% to olfactory problems, 19.08% to sounds, 12.37% on flavors and finally only 9.18% touch on questions.
There is no doubt that we are in a moment of change, where it is important to renew or die, where organizations must start closing ranks, strategically speaking, to eliminate the discrepancy between what companies are looking for and what the customer is demanding.
The key to success is to stop producing and marketing what we know how to do best, deliver with differentiation, provide the customer with unique experiences, leave aside conventional processes and return to the old craft of making the customer feel, we are talking about bringing to the consumer on the skin.
What are we doing in our organizations to create a brand experience? Consumers already have things, now we’re looking for sensations.