Brand Building Action Points
1. Become a platform
Leverage the strengths of being a large brand and establish relationships with smaller brands to co-create. For mature brands, these relationships can add vitality and revenue.
2. Find the individual in the data
Obtain the data necessary to communicate in relevant ways across many narrow segments of the market. Look beyond the usual cohorts: the online shopper, brick and mortar shopper, mobile shopper. The same person is shopping across these venues. The journey is different for each individual.
3. Enhance the retail experience
Add excitement to the in-store experience so the shopper at shelf connects with the brand. And pursue this activity as part of the larger strategy to develop a relationship with the individual customer and potentially sell to that person directly.
4. Expand the retail experience
It is important to have an impactful presence on Instagram and other social media. But even as big box stores disappear, unconventional locations pop up. Brands need to be present with easy, frictionless, compelling in-person experiences that help create and strengthen relationships with customers.
5. Be brave
Disruption is coming from all sides all the time. Try new technologies and channels. Have a point of view. Take a stand or risk seeming generic. Expect and embrace some failure in the service of long-term growth.