What’s in this article:
- Nostalgia on its own isn’t enough to keep consumers loyal to a brand. Banking on that sentiment, caused many legacy brands have failed.
- Influencers prove consumers want authentic experiences before forming a relationship with brands.
Read the headlines on any given day, and you’ll probably learn of another store closing its doors. Legacy brands like Sears, Toys “R” Us, Macy’s, Kmart and dozens of others used to be the go-to places for many families to shop. Now, many have gone bankrupt or disappeared altogether — all while many online companies and influencers prove customers are still willing to spend money. So where did these brands go wrong?
What caused breakups with legacy brands?
Nothing lasts forever, which proved to be the case for consumer- legacy- brand relationships. At the heart of this breakup is the mistaken belief that nostalgia would keep customers coming back. However, nostalgia on its own wasn’t enough of a reason for customers to stay loyal to brands. Younger generations don’t have the same ties to these companies, so there has to be more to attract them.
Customers still like routines and traditions, but with all of the information, reviews and social proof available online, a previous connection to a brand is only one factor they base their purchasing decisions on.
One reason many legacy brands missed or felt this switch is because online marketing and influencers can reach their audience directly. Their campaigns go straight to the end user, allowing them to directly interact and collect data from them. These online marketers are willing to evolve to better meet consumers’ needs, instead of expecting the customer to follow them no matter what.
While many brands that were once household names might be in trouble, not all hope is lost. Here are five things legacy brands can learn from online influencers to begin mending and building better relationships with their audiences.
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Find your brand’s voice
While the content might vary, each digital influencer has one thing in common: They all have their own unique voice. That’s what sets them apart and why their audiences follow them. Influencers aren’t afraid to share their opinions and keep that edge that keeps people coming back.
While brands might not have as much leeway with what they can post, there are still ways for you to create and own a unique brand voice. Start by creating internal guidelines about what topics you can engage with online and which ones need to be approved internally first. Having a list of greenlighted topics allows you to immediately jump into conversations in your wheelhouse to engage audiences, just like an influencer.
Create an authentic message
With finding your brand’s voice and point of view, it’s also important to ensure it comes across as authentic. Consumers want to have a real connection and conversation with brands they do business with, and influencers are experts at building those relationships. Younger generations have become pros at spotting a fake, so your campaigns and other engagements need to be in line with your brand’s values — not just the latest trend or topic.
To create that sense of authenticity, do what the influencers do: Post something spontaneous. Instead of spending weeks or months to polish your post until it’s perfect, try something simpler like a quick video, photo or moment that happened that day. That will help your brand seem more real, instead of consistently edited. Some influencers’ best work comes from in-the-moment posts, so give it a try.
Not everything is about making the sale
Yes, your end goal is to turn consumers into customers. But, that shouldn’t be all you share and focus on. Post content that your audience will find valuable, something they’ll laugh at or something they want to share with their friends. If you want people to spend their money with your brand, you need to provide them with value.
When promoting a product, show them why they should be interested in it. For example, influencers share #ad posts all of the time, but they often present them like a tutorial or testimonial instead of a product write-up. And people listen: 49% of consumers depend on influencer recommendations to make a purchase and influencer marketing campaigns earn $6.50 for every dollar spent.
Make it about the experience
Legacy brands once had a monopoly on the customer experience because consumers had to physically visit stores to make purchases. Today, ecommerce makes up 18% of total global retail sales — and influences have capitalized on this trend. From live online events and apps to memorable in-store shopping, you need to create a cohesive experience that matches the brand and meets or exceeds customer expectations.
Starbucks is a good example of a constantly evolving legacy brand t, starting as a coffee seller to an experience provider. Yes, they still sell coffee, but customers also visit their shops for the community and scenic roasters — and they use anapp to tie ecommerce and brick and mortar experiences together.
Form an emotional connection
It’s not uncommon for followers to feel like they know an influencer even though they’ve only seen their posts or videos. That’s because that influencer has done a good job of connecting with their audience. Focus on campaigns audiences can relate to and include real people. Afterall, people connect to people. Do you connect with it? If so, that’s a good sign others will too.
Legacy brands still have staying power
Companies like Apple and Nike use their histories as a selling point, while also offering innovative products and marketing campaigns. That’s why they hold the top spots in the list of millennials’ favorite brands.
For your company to grab audiences’ attention, see how you can incorporate influencer tactics while staying true to your company’s core values, branding and identity. Brands need to know who they are, instead of trying too hard to be something they aren’t.
Influencers might not have the same rules and corporate limitations as legacy brands, and that’s probably one of the reasons for their continued success. The more instant, authentic and relatable you can make your brand, the better consumers will connect with it.