Interbrand released a series of reports detailing their “Breakthrough Brands of 2017,” and there are certainly themes throughout that shine a light on some similarities between new and successful brands.
“While every brand’s path is unique, the standouts share some common characteristics that set them apart.”
The brands that are showing strong growth trends this year have all embraced two things: Artificial Intelligence and Brand Activism.
While the use of AI in business and Brand-building practices isn’t limited to specifically to these up-and-coming companies and their brands, they nonetheless continue to demonstrate how the utilization of AI is only going to keep pushing a Brand’s ability to compete in the marketplace. Harnessing this powerful technology can not only yield positive financial dividends through business analysis, but can also provide amazing new insights into how consumers are interacting with, and relating to a Brand. These insights are going to be instrumental moving forward in understanding how to build brands that drive long-term success and truly resonate with target audiences.
As the world becomes more aware of and passionate about current issues – political, humanitarian, etc. – consumers begin to feel more and more that their “personal activism can be expressed in the endorsement of a brand.” This is pushing brands to be more open with the ideals and morals with which they align. Consumers are becoming more and more aware of how the brands they support represent their desired self-image, and brands that are showing exceptional growth this year seem to all be aware of that fact; while brands that remain silent on these kinds of topics risk alienating both sides.
“The standout brands share one common trait: while their model is clearly mission driven, they play to win.”
This kind of attitude extends beyond the current social climate, and into how a Brand presents itself from a business model stand point. New brands are finding a tremendous amount of success in presenting themselves as an alternative to the giant incumbents of their specific space. And while they certainly want to appear “mission driven” in line with what was discussed in the previous paragraph, they all have a focus “on being as good — if not better — than their competitors” when it comes to the goods and/or services they provide.
These types of insights that describe how new and legacy brands alike are finding success in an ever-evolving consumer marketplace help to improve new Brand identity creation. While new branding initiatives should always be careful to never imitate when working on new brands, it is vital that branding agencies continue to grow and change with the world around them. They should also employ methodologies that are designed to approach branding from both a qualitative and quantitative perspective, using insights from varied and trusted approaches. This ensures that only the best brands are delivered to the client and that those brands drive profits for years to come.