Analysis “How Disruption Can Drive Brand Growth” conducted by Kantar Millward Brown on more than 2,000 brands within the BrandZ global brand equity database, shows that less than 1 in 10 brands grew between 2014 and 2017.
The results of this analysis show that it is among the brands that grew Amazonwhich is a shining example of what a disruptive brand is, since it doubled its value in the same period thanks to the fact that it makes people’s lives much easier.
In presenting this study, Julia González Treglia, brand director for Latin America at Kantar Millward Brown, commented “Every brand has the power to generate disruption, if it has a clear idea of what it will generate and that there is a significant difference according to “its status and context. The key is that this disruption is consistent across all brand touchpoints and is linked to the brand’s values and DNA.”
Through a study, Kantar Millward Brown discovered 7 steps brands can follow to disrupt and drive growth:
1. Get out of your comfort zone: Any brand can be disruptive if it does something outside the norm and that action creates new value for consumers or uncovers existing potential.
2. Know what needs to be changed: Understanding how consumers think, feel and behave in relation to a brand can provide an immediate opportunity for growth. The challenge is to identify what can make it more salient and meaningful to potential consumers.
3. Understand the value of your brand: On average, consumers pay 14% more for brands they perceive to be different. When this translates into profit, the biggest opportunity may come from targeting the right customers and subsequently cultivating a perception of differentiation to drive perceived brand value.
4. Leverage consumer insights to drive disruption: An established brand that lacks differentiation can run the risk of being easily replaced. A disruptive idea can come from many places, but the ultimate test is whether that idea resonates with an audience. This requires a deep knowledge of potential consumers.
5. Invest to make a difference: Spending no longer necessarily means you will generate something disruptive. Investing in a creative idea that aligns with the brand can be the best way to disrupt the status quo.
6. Quickly learn how to achieve higher returns: A brand may have a great product or idea, but the execution may not be disruptive enough. Marketers should act like they are always launching their product. They need to act and identify opportunities for change to get on the right track.
7. Continuously improve marketing efficiency: Marketers need to measure what is happening with the brand and the response of consumers in the market, in order to make the necessary adjustments in the moment.