Technique 2 minutes, 4 second read James Clifton, CEO, The Mission Group
In the wake of COP26, brands have come under the spotlight even more intensively for their purpose and sustainability credentials and it’s become clear that many can and should be doing more.
The MISSION Group, an international collective of 16 creative and MarTech agencies, has launched a new brand bonding tool and it has uncovered compelling data showing that leading brands, such as Amazon and Apple, are falling down on key indicators needed to support growth in a post-covid landscape.
The new proprietary tool, the MISSION Brand Bonding Index (MBBI), measures 330 key metrics and including 39,600 data points. It is designed specifically to give companies immediate bespoke insight into their real brand power and actionable intelligence on comparison with competitors.
The index, which is due to be updated bi-annually, helps brands decipher their position across a range of categories including awareness, dependency, ESG and purpose.
In a world where who you are matters much less than what you do, it’s vital that brands are ahead of the game and anticipating the evolving expectations of their audiences.
If the pandemic taught us anything, it’s that consumers value purpose, and brands with purpose win.
The MBBI’s initial findings highlight that brands can no longer rely on name recognition; the research reveals that household names, such as Nike and Sony, suffer due to poor ESG, purpose and preference scores and that other leading brands are falling down on key indicators.
Other main findings include:
- Facebook, Amazon, Apple, Netflix and Google (FAANG) are not quite on top – high levels of brand recall and day-to-day usage did not guarantee these mega-brands the top spots
- Octopus Energy is a sector-defying highflyer driven by purpose and customer experience
- Young, ambitious online homeware retailers, such as Made.com and Wayfair, lag behind the established Ikea, even on social media scores
- Tesco is a stronger brand overall than upmarket Waitrose, driven by price.
To succeed, brands must create and nurture bonds with consumers, through their CX, customer service, identity, communications and, of course, through their Purpose. These bonds – feelings of closeness, preference or identification with a brand – are the levers driving the results above.
It's these individual behaviours, large and small, that translate a brand’s potency into measurable, real-world results. So marketing managers must spend time thinking about them deeply: how to craft them, encourage them, develop them and leverage them to make their brand even stronger.