• Saturday, April 20, 2024
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Five signs for brand growth in volatile environment – Kantar BrandZ

How to reinvent a dead brand

Experts in the brand industry have identified the five vital signs as the success drivers for growth.

According to Kantar BrandZ, the five vital signs include Purpose, Innovation, Communication, Brand Experience and Love.

Kantar is a leading marketing data and analytics business, and an indispensable brand partner to the world’s top companies.

Daniel Oseman, Kantar’s chief growth officer, West, East & Central Africa, said: “Tough times call for tough brands.”

Oseman spoke on “Grit and growth – Navigating tough economics,” at an event in Lagos recently.

He went on to dissect the role of brands in helping consumers realise their aspirations in challenging times. “While value always matters during economic disruptions, a cheaper price isn’t always necessarily the answer.”

The event, themed “Brands of tomorrow – making growth real”, was an exclusive, insightful and thought-provoking gathering of brand specialists and experts. The focus was to discuss how insights can be turned into actionable strategies that fuel and accelerate growth, even in trying times. Kantar also launched its sustainable transformation and strategic consulting practices in the Nigerian market at the event.

Ndeye Diagne, managing director, West, East & Central Africa at Kantar set the scene for the conference. She said, “We live in a polycrisis era. In Nigeria, the volatility of the macroeconomic environment coupled with severe currency fluctuations further impacts consumer purchasing power. Yet the rules of brand growth remain the same, despite the ‘noise’. Kantar however has a blueprint for sustainable brand growth, and winning marketers are those who implement their growth strategy effectively.”

Other speakers included Akinola Afere, account director & brand consultant, Nigeria, Kantar. Akinola unpacked how to bring growth home, “Nigeria is a strategic balance of pressures, opportunities and growth. Understanding consumer concerns, trends and drivers in this market will help brands better harness opportunities for brand growth. So, hold your nerve and continue to invest in your brands.”

Mark Molenaar, director of customer experience, Sub-Saharan Africa, Kantar, discussed the role of brand experience in driving growth. He said that brands need to focus on creating emotional engagement through a meaningfully differentiated brand experience. This means creating experiences for customers at any point in their journey that reflect the values and identity of the brand and create lasting and distinct brand memories. Molenaar went on to say that “a brand needs to be Meaningful, Different and Salient to stand out and grow and that in today’s Omni channel environment, a brand’s strength and appeal is now overwhelmingly linked to the customer experience.”

Kantar launched their sustainable transformation practice, which is led by Astrid Ricketts, sustainable transformation director, Middle East & Africa, Kantar. At the event, Blessing Onyebuchi, account lead & innovation specialist, Nigeria, Kantar, posed the question “Does sustainability matter for brand growth?” Onyebuchi went on to say that sustainability has increasingly become a priority for businesses and brands and plays a vital role in brand growth. “For brands to build and maintain brand value, and ultimately survive and grow, they must focus on societal and environmental issues and shared value creation. Growth then becomes less about profit versus purpose and more about profit with a purpose.”

Ivan Moroke, CEO, South Africa, Kantar, introduced Kantar’s strategic consulting practice to Nigeria and went on to say that the consulting practice will bring a new dimension of strategic insight to brand growth stories in Nigeria and across the West, East & Central Africa region. “Demand-led growth is a key lever for companies to accelerate shareholder value,” Moroke stated that Kantar’s meaningful different salient (MDS) framework measures the value of brand equity accumulated in the minds of consumers and impacts penetration, market share, the willingness of consumers to pay a premium as well as future growth potential.