Five key measures to maximise brand impact
In an increasingly complex market, where consumers choose products based on more than just price or customer service, having a handle on all elements of brand impact is crucial for success. New research has picked out five ways businesses can set themselves up for success.
PA Consulting has conducted a survey of 7,000 consumers and 360 business leaders, to highlight the best practices companies can use to improve their engagement with customers. Ranking over 350 brands across customer centricity, dependable delivery, intelligent innovation, conscious creation, and community connection, the researchers found that luxury vehicle firm Rivian, technology giant Samsung, and baby food producer Little Spoon are currently leading when it comes to brand impact.
Evaluating the brands across customer centricity, dependable delivery, intelligent innovation, conscious creation, and community connection, PA’s researchers explained that the top performers had displayed an awareness that other firms would do well to learn from. In particular, growth strategy expert Jorge Aguilar explained that leading brands are able to adapt to consumers becoming “more intentional with their spending”.
“These brands are stepping up to offer more than just products,” Aguilar added. “The brands that thrive in this new normal are the ones that go beyond the transaction, meeting customers where they are and delivering real value. Consumers remain loyal to the brands who listen – those that are making a positive impact and building trusted relationships that last.”
Looking into the results in more detail, PA was also able to distil five key lessons for firms looking to emulate brand impact leaders.
- Customer centricity
At the heart of using brand impact as an engine for better growth, is customer centricity. PA’s researchers explain that top performers in brand impact “deeply understand consumers”, and work to “infuse joy into everyday life”, nurturing lasting relationships in the process – and 63% leaders agree that customer centricity is therefore the most important factor in driving loyalty. But this acknowledgement isn’t always reflected by investment decisions.
PA explains that Rivian, Little Spoon, Apple, SoulCycle, and SmartSweets perform particularly well in this area – and if firms would like to follow in their footsteps, they should consider the following. Leading firms for customer centricity are three times more likely to invest significantly in customer centricity; they are 1.5x more likely to increase future investment in customer centricity; and they are 1.2x more likely to develop or refine a proven system to commercialise and scale ideas.
- Dependable delivery
Brand impact also depends on a company being able to stand as a trusted pillar of assurance and value in the minds of its customers – building up a reputation for being reliably focused on making life easier and better for consumers. This requires both an eye on the short term, and planning for future change - with leaders in brand impact investing on both fronts.
Across all components, PA has found that dependable delivery is the highest investment area for leaders, with 18% expecting a significant rise and 55% anticipating moderate growth – but it is not just investment that separates the best from the rest. Leaders on this front include Band-Aid, Google, UPS, Gerber, and Zillow, and according to PA, such firms are 2.5x more likely to significantly invest in dependable delivery now; 1.6x more likely to plan for disruption and minimise the impact on consumers; and 1.4x more likely to be transparent about issues and mistakes.
- Intelligent innovation
Brands don’t lack innovative ideas – but many struggle to launch and support a portfolio of innovations that work over time. This offers opportunities to challenger brands, looking to disrupt a market by reimagining digital and physical solutions by combining science and human insight. Innovative, science-led development can open up new markets, categories, and consumer cohorts through inventive products, services, and experiences.
The categories that innovate most intelligently are technology, consumer electronics, and sports and fitness. The brands that shine include Mercedes-Benz, Sony, Wealthfront, and Betterment – but PA also notes Rivian and healthcare firm Oura show just how more agile new brands can quickly build a reputation with innovation. Leaders in this aspect of brand impact are 1.8x more likely to significantly invest in intelligent innovation; 1.4x more likely to up future investment in intelligent innovation; and 1.2x more likely to experiment with AI, machine learning, or other disruptive technologies.
- Conscious creation
Consumers want the best products, services, and experiences – but with the impact of commercial activities on the human and natural world better understood than ever before, consumers also expect brands to embrace a sense of purpose. Customers want to feel good about their choices, and support brands that have a positive impact on the planet, and society.
An 86% majority of consumers expect brands to play a crucial role in driving positive change, while 77% lose respect for brands that put profit before planet. PA suggests that brands leading in meeting these expectations include Rivian, Orangetheory Fitness, The Honest Company, Urban Remedy, and SoulCycle. Top performers of this kind are typically 1.5x more likely to increase future investment, and 1.2x more likely to protect biodiversity, minimise impact on natural ecosystems, and conserve natural resources.
- Community connection
With society becoming increasingly polarised, consumer choices have become a battleground in their own right. And while a noisy minority of political actors often trot out the claim “go woke, go broke”, the opposite is usually the case – as consumers look to brands to drive positive change. Half of leaders acknowledge this role, agreeing that they’re responsible for leading and inspiring societal progress - actively and visibly championing causes close to consumers’ hearts to build long-term connections.
In cultivating community, the categories of sports and fitness, consumer electronics, and technology perform highest, with PA finding the leading brands in this component to be Rivian, CrossFit, Sony, and SoulCycle. The researchers stated this cohort was 1.9x more likely to be significantly investing in community connection immediately, and 1.2x more likely to give back to consumers.
Chris Fosdick, growth strategy expert at PA Consulting, concluded, “Consumers today demand more than just quality; they seek brands that align with their values and aspirations. The top performers in our Brand Impact Index reflect a broader trend – consumers connect most deeply with the brands that innovate to deliver personalized interactions while driving social impact."
