Is your brand loaded with the values appreciated by consumers in the next normal?

The pandemic has taught most of the world how to live and work completely from home, the vast majority of companies are tuning or even revitalizing their strategies with one question top of mind: 

“Will this uncertain time change the way people spend money?” 

Good news: There is a universal answer to this question, and that answer is YES!

According to a study from McKinsey published already in Q4 2020, 75% of consumers have changed brands at least once during the pandemic. 

What triggered the change? Value, quality, and brand purpose are the most often cited top reasons for trying out a new brand. 

Hence the question in the headline of this post: What values is your brand loaded with? And how well does that fit with the values of your target audience? The McKinsey study also clearly shows that value, quality, and brand purpose are the most cited reasons for trying a new brand. And good news – this is across countries!

So – now we know that the pandemic will change the way people spend money, and we also know that spending will be shifted to companies – brands – where the customer experience is built up around value in all touchpoints, where the brand has a clear purpose – a greater why – that appeals the target audience, providing products and services meeting up to or exceeding the expected quality.

The important question is: How can you grow your business based on these insights? Reach out and expresso can show you!

Know your brand, grow your business.