The marketing paradigm has shifted over the years and evolved. A few years ago, brands wanted to create a perfect perception in the audiences’ minds. It was about being the best in the business and a lot to do with selling the products and series.
And consumers were interested in getting stuff from the best.
Fast forward a few years, and businesses now talk about their impact on the world. The focus has shifted towards impact – and we believe that this is one of the best things to have happened in the corporate world.
With digital devices and products taking over, attention span has drastically decreased. Building a connection between businesses and consumers has become difficult. Tons of competitors offering a similar quality of products and services make it difficult for businesses to retain consumers.
During the last few decades, the conversations around the impact of businesses on the world have taken a lead. People are now concerned about the impact of their consumption patterns. And for businesses to enjoy sustainable profits, it is important to create a positive impact on the environment, people, and the world.
People are willing to trust businesses but earning that trust isn’t easy. The consumers of today want businesses to be more considerate towards the planet and be transparent in their processes. Gen Z feels responsible to make a difference and more than 80% of people under 30 believe that businesses must play an important part in solving issues related to humanity.
But not enough businesses are paying attention to it, leaving consumers indifferent to any of the alternatives. You might no longer be in the market and most of your audience wouldn’t know, let alone care.
Consumers have lots of options, so the focus on building an image would do businesses no good. People need to know WHY should they engage with any businesses. Gen Z believes that you only deserve to make profits if you are doing something in return for the world.
And of course, building brand image is important. But that brand image has to be built on something profound.