opinion
If you look at every iconic brand you can name , you will notice they were all launched well before the introduction of the internet .
not focus on building consumer loyalty as much as before , there is less importance placed upon longevity , because we simply don ’ t have the time needed any more . This means today ’ s brands must think creatively in terms of attention , and how best they can connect through story and brand extensions / innovation across multiple touchpoints and channels .
Time to shine is limited While instrumental in breaking down barriers to entry for products and brands , the introduction of the internet has also been responsible for a noticeable decline in product life cycles .
Before the internet , it was much harder for consumers to discover new products . Brand loyalty meant that brands could comfortably labour with their same product for many years , before competitive forces dictated a change .
Product life cycles are now measured in months instead of decades – partly attributed to the ease with which new products come onto shelves via social media channels , and partly because consumers have more power and access to new products than ever before .
So , what does this mean for today ’ s products and brands , and how can they achieve longevity in today ’ s fast paced marketplace ?
The internet has been a major force behind many of today ’ s most popular products and brands . The only question is how long they will be around for , and that depends on their popularity with consumers , who are always looking for something new to try out .
With that knowledge , all the traits of iconic brands in relation to your brand identity , story , what you stand for , and your connection to your target audience still rings true . However , you also need speed , because if your brand isn ’ t engaging enough with consumers ( i . e . it isn ’ t “ sticky ” within months of launch ) the consumer will have already moved on .
Getting sticky The concept of “ stickiness ” in business has been used for decades to describe the success of marketing and content-driven promotional efforts .
It ’ s no secret that in today ’ s world of social media and online marketers , boosting your brand ’ s stickiness is imperative . Improving the “ stickiness " of what you share with potential consumers ( i . e . increasing audience awareness ) will attract more attention – which can lead to increased longevity in the marketplace , as well as greater customer loyalty .
To be sticky , you need to make your audience feel as if they ’ re part of an authentic relationship with your product and brand . You can ’ t just hope that people will stick around .
It used to take iconic brands time for their message to stick , but now – thanks largely to accessible content through social media , blogs posts or videos – that sticky engagement can happen quickly .
It ’ s become apparent that the way people use social media and mobile technology , and online shopping behaviours have drastically changed what “ time ” means , as consumers place more value on their time , and spend shorter amounts of it building brand relationships .
To create highly sticky customer relationships today , brands must put more effort into finding new ways to connect for longer periods of time between interactions , so consumers feel compelled enough about your proposition to not just stop at one purchase , but continue interacting with you , throughout your product ’ s or brand ’ s life . The harsh reality is that unless you launched before the arrival of the internet , chances are your product or brand will never achieve iconic status within the FMCG space , and that should not be the goal anyway ! What matters is to act fast , stay agile , be authentic to your audience , and evolve with the market , if you want to be somewhere in the middle of a fad and an icon .
CRAIG MATTHEWS is the founder and director of “ Stock Box ” and “ Good to you ”, two programs focused on shining a spotlight on new product discovery , creating new pathways to market and improving business operations and teamwork .