Creative Excellence -> Content Excellence®

The old creative excellence framework was focused on creating the perfect message and pushing that message out through a variety of different channels in order to reach consumers. The goal was to tell consumers about the product and inspire them to take action. But really, when was the last time any consumer did what they were told, especially a millennial consumer? The new model of Content Excellence® is built around the methodology of creating content that is unique, shareable, and produced by the very people who are using the product. Today, creative still has a place in the marketing strategy but a creative campaign can no longer survive without content to support it.

 
 

Storytelling -> Storyliving™

To stand for more than just your bottom line, one best practice strategy is to act as a conscious capitalist in all facets of the business. But, more than that, you must develop the “why” of your business. Not the “what” – the products you make, or the services you provide, but the why. Why do you do what you do? Why do you believe in what you believe in? As soon as you have established your why you can begin sharing your story with consumers and develop a brand authority.   Ultimately, successful brands embrace the idea of Storyliving™, which means that they live and breathe their story because it is a part of their core essence. What they stand for is present in the brand personality.

 
 

The New Definition of Brand Value

With what we have learned about millennials’ desire to participate and share, we have updated the brand value equation. The functional and emotional benefits are still key to inspire a premium price, but the benefits of consumer participation in the brand are now incorporated into the equation. We can see how this process of including the consumer in the brand experience creates a participative environment. All of these components not only effect pricing, but also creates a brand that is shareworthy. This equation is divided by price, but by the total cost. The total cost of the product encompasses more than just the price, which was the denominator in the old model. By dividing the equation by total cost we are taking time, convenience, and availability of the consumer into consideration in addition to the actual price of the product.

 
 

The Brand Atom Model™

When we think about the traditional path to purchase model, it is very linear. A brand first generated awareness, then peaked desire, then created interest and finally elicited an action. Similar to Maslow’s Hierarchy, each level of the pyramid needed to be filled before advancing to the next stage. All of our research points to that fact that millennials do not operate in these linear paths that once defined our consumer economy. Instead, they are functioning in a much more orbital nature. Now, the Brand Atom more accurately reflects the millennial influenced path to purchase because it focuses predominately on engagement rather than action. Millennials value brands that involve them in the creation process of the product itself and brand experience. The new Brand Atom model is the most agile marketing model that allows brands to constantly reevaluate, reimagine and recreate marketing strategies based on real-time findings and insights.