Top Brand Trends in 2024
When the leaves fall and winter weather sets in, we are reminded of a new year and new beginning ahead of us. If you are like us, we don’t like to go into something unprepared! We decided to take the time to reflect on all we accomplished and learned in 2023 so we can help our clients go into the new year with the confidence they need to achieve their goals. How can you create a winning brand strategy in 2024? Drum roll, please…
5. Out With the Old, In With The New
As brands look to reach the next generation of consumers, what worked before may not work today. Measuring your brand’s value, awareness, attributes, and sentiment with your target market is the first step in determining your brand’s future. We all saw Elon Musk’s hasty decision to re-brand Twitter to ‘X’ leaving much of the world confused. Before you eliminate a brand, understanding its value and your consumers’ opinions is the key to informing your decision. There’s one thing he did right though, brand transitions are better with a clear direction and removal. If he kept Twitter in some areas or a soft launch, it would be much worse. Remember, people are smart. Telling them the WHY behind your branding decisions, backed by sound data, will help you earn loyalty and trust. When they feel a part of your journey, consumers will support your brand.
4. My Work, My Way
Employees today are looking for more than a job. Companies that understand their culture, modernize their policies and allow workers the autonomy to get their work done, will be much more effective at attracting and retaining talent next year. The employee experience is a relationship that needs to be nurtured. Culture was the top answer for driving productivity and engagement in 2023 followed closely by career development. Encouraging your people to grow, learn, and take on new challenges is an important part of their career and they want to see their leaders take an active role in their development. Understanding your culture and mobilizing your managers with career conversations is a great place to start in 2024.
3. Testing, Testing, Testing
Ever wonder why so many products fail? Without proper testing, our assumptions and experiences drive decisions that compromise your product’s real market value. As you plan for next year, make room in the budget and your calendar to conduct sound research with the next generation of customers or employees to inform your strategy. Coming together in-person and observing your target market live makes a big difference in understanding their actual behaviors compared to when they verbalize them. The benefits of doing research will help you get everyone in your organization on the same page. Even better, the results may surprise you!
2. Finding Impact & Purpose
We have all heard about brand purpose, but what does it mean for your next generation of buyers? Your purpose is grounded in the foundation of your company and brand. Finding the future value of your company’s purpose and effectively communicating it to multiple stakeholders can be problematic. So many companies fall flat when it comes to telling their story, but using your company’s purpose to guide everything you do in 2024 is a great place to start. Don’t forget to find out what your purpose specifically will influence behaviors and buying power. Even better, talking about what you did to create a difference in this world will appeal to new buyers.
1. Brand Value from the Heart
We may not remember what we did yesterday, but we always remember a good story. With high inflation and a changing economy, it will be important to focus on value selling to your consumer base. But the value of your products and services may have changed with changing market conditions. Finding out what foundational value or emotional stories exist within your customers’ hearts and minds from how they experience your brand will be the key to crafting a story that will have a lasting impact. Connecting with buyers in a relevant and authentic way is the future of great storytelling.
To discuss what trends speak to your organization, schedule a time to talk with Abbey Eisenlauer, President at (224) 500-7423. Happy New Year!
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