Consumer brands aiming for long-term success need to lace up their sneakers and embark on a marathon journey of brand building. Just like the long-distance runners, they must endure the long haul and strategically pace themselves to cross the finish line victoriously. Here are five essential steps for consumer brands to navigate this endurance race:
- Extra Share of Voice: To maintain and expand market share, brands must outpace their competitors by investing more in advertising and marketing than their current market share reflects. This strategy ensures continuous visibility and relevance in the minds of consumers.
- Reachful Retail: In today's evolving trade landscape, success hinges on securing superior distribution channels beyond modern trade access. Placing traditional retail practices is crucial, as it commands a significant portion of commerce, offering brands broader access to consumers. As for digital, I see very few growth prospects in Direct to Consumer(D2C) but this can be answered affirmatively on a case to a case basis.
- Innovation on Strength: Doubling down on existing strengths is a proven tactic for building a competitive advantage and creating a formidable barrier against rivals. While some businesses may deviate from this path and succeed, history shows that the most enduring brands capitalize on their core competencies.
- Visibility in Outdoor: While digital advertising has proliferated in recent years, outdoor media remains a powerful influencer in brand choices. Billboards and transit media continue to capture attention and leave a lasting impression on consumers, making them indispensable components of any comprehensive marketing strategy.
- Building Distinctive Assets: Beyond product quality, brands must carve out a unique identity that resonates with consumers. This goes beyond mere names and packaging; it involves cultivating a brand persona that can easily stand out in the aisles eyes and find a place in the consumer brain.
In Kenya's consumer market, certain regions hold promising opportunities for long-term growth. The North Eastern and Western regions, fueled by factors like devolution and cultural dynamics such as polygamy, present fertile ground for consumer brands committed to the marathon journey. Sectors like food, household care, and personal care are poised to remain among the top priorities for consumers in these regions due to the above than the national average growth of population.
In conclusion, the path to enduring success in consumer brand building is akin to running a marathon – it requires focus on the long term. By implementing these steps and staying attuned to regional dynamics, brands can position themselves as enduring fixtures to morph into category giants.