Brand Marketers Need To Adjust To Evolving Customer Expectations

Customer expectations are changing globally, presenting significant challenges for brand marketers whose organizations may not have not changed in 20 years, but will definitely need to change to grow in the next few years, according to a Marketing Week study. The study looked at marketers who felt they did worse than competitors (underperformers) and those that did better (overperformers). From their experiences, researchers devised five rules to guide marketers who want to position brands for growth through 2020. At the top of the list: decide the purpose of the brand. Overperformers are much more likely to know why their brand exists: 84 percent say they are proud of their brand’s purpose, compared to 72 percent of underperformers.