While there’s likely never been a time when operating a brand was easy, running one today is undoubtedly more challenging than it’s ever been before.
Think about everything we’ve covered on this podcast:
- Store sizes are getting smaller and product variety is growing
- Shopping baskets reflect on-the-go lifestyles, often with a focus on fresh, natural and health and wellness
- E-commerce and omnichannel shopping are rapidly altering our shopping behaviors
- The time we spend with media is rising, but across an array of expanding platforms and devices
When you add it all up, it’s downright daunting. And when you consider that just 8% of global consumers consider themselves committed to their favorite brands, it’s enough to leave brands and marketers with far more questions than answers.
With a massive 42% of global consumers actively on the hunt for new and different, there’s never been a more important time to look at your brand targeting strategies—things like acquisition and retention—and have clear insight into the implications of those strategies.
This episode is a second exploration of an age-old question within the advertising industry: Is it better to target brand buyers or non-brand buyers. To shed light on the topic, we brought back Leslie Wood, chief research officer at NCS and Linghan Wang, Director of Research and Development at NCS, to share some new insights from their “How to Build Brands” study, which focuses on three-and-a-half years worth of retail sales data.
You can listen to our first discussion with Leslie and Linghan here.