Who Owns a Brand?

In the Age of Immediacy and Choice, brands have to exist as relationships.  Former Saatchi CEO Kevin Roberts famously posited that we have moved past brands to super-evolved brands, or “lovemarks”, that generate love (defined as loyalty beyond reason) because in practice they no longer belong to a company. More than a promise, more than superior performance, more than a “love mark,” brands need to belong to the consumer, since overwhelming choice and instant gratification have handed the consumer the power to ask brands, “how will you improve my life?” 

One way to create these relationships is for brands to reframe roles so that the producer and the consumer feel equal. Harvard Business Review points to Uber and Lyft’s transition from a driver/passenger relationship to one of friend/friend.  

A recent Accenture report showed that consumers are 78% more likely to retract their loyalty than three years ago, in part because Millennials expect very different relationships with brands. Millennials want flawless positive experiences that they can share with friends and family; yet they are still quicker to switch brands, all the same.

But building loyalty has become harder than ever.  Consumers have usurped brand ownership, since overwhelming choice and instant gratification have handed the consumer the power to ask brands, “how will you improve my life?”  (Have you ever wondered why marketers are called brand ‘managers’ and not brand ‘owners’?)

Learning these new expectations, the new “loyalty language”, will transfer focus from traditional loyalty programs towards newer strategies. If consumers are finding it easier than ever to leave, brands must find human reasons for them to stay.