Brand loyalty is not dying. But, you would not know this if you are paying attention to the business press.
NEW THINKING
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Larry Light, Author at Branding Strategy Insider
Here is marketing’s greatest flaw: there is no legal definition of a brand. Everyone speaks about protecting their brands. But it is difficult to protect something when it is not a legal entity.
The primary role of the Chief Marketing Officer is to be the voice of the customer for the brand-business. The CMO embodies the customer informing the organization. Customer understanding and insight generation are the CMO’s highest priorities. Sure, the CMO has numerous other functions these days. But, being the voice of the customer must be the number one function.
Streaming brands have become scavenger brands. Streaming brands are focused on scavenging for new subscribers with little focus on current customers. Scavenger brands survive by relentlessly seeking larger subscriber numbers to satisfy investors and analysts. Scavenger brands are the hunters and gatherers of the modern age.
We are experiencing three over-arching colliding forces: increased globalization, increased localization, and increased personalization… all happening simultaneously. Even though the world feels closer, brand leaders cannot ignore the increased importance of relevant local differences and the compelling desires for personalized experiences.