How consumer empowerment is driving new brand opportunity
In the run up to the Pearlfisher Futures Connect Mode events in New York and London, we are posting three perspectives that highlight some of the key themes from our Connect Mode Insight which explores how a truly connected brand world will look in the future. First, we consider how consumer empowerment is driving new brand opportunity.
In his book Abundance: The Future is better than you think, engineer, physician and entrepreneur Peter Diamandis says, “We are living in an extraordinary time and age, where technology makes individuals able to do what only governments and global corporations could do before”.
Our lives are constantly being shaped and redefined by new levels of information – and we are reaping the benefit of this new global connectivity and the increasing influence and empowerment it brings to us as individuals. We have more choice but, as a result, our brand loyalty can be short lived. For brands to stay on our side, consumers need to be informed, respected and seduced more than ever before and our power must not be underestimated.
But consumers are also realising the immense value of this growing Information Economy and, specifically, the real worth of our personal data. With the rate of personal data-tracking growing at an alarming rate, consumers’ are also embracing their new power by asserting their prerogative to guard, track, trade and manage their data to their best advantage. To counter and meet these shifting levels of power, brands need to openly communicate security but also reinforce the message that the power is still very much in our hands.
At the recent launch of the iPhone 6, Apple announced their Privacy Pledge with a strongly-worded statement about how it protects users’ data from government requests and how “Unlike our competitors, Apple cannot bypass your passcode and therefore cannot access (your personal) data.” (Source: WIRED)
Whilst this announcement has caused much debate about just how secure the new technology actually is, no-one can fault Apple’s honesty, transparency and open dialogue with its consumers.
Our world today is both a challenging and exciting landscape for brands to be operating in. But, first and foremost, they need to remember that the customer is king. And, to succeed, brands need to find new, apposite and empathetic ways to gain the trust, connection and love required for true brand loyalty and longevity.
Pearlfisher Futures will present Connect Mode at two upcoming events in New York and London. Click here to find out more and book your place at these unmissable events.