Only 1% brands build sales momentum in the long-term.
According to a Kantar report, brands can outperform others by building a growth strategy around its position in the market. The report analysed 3,900 brands and found that only 6% of them grew their market share over a year.
The report lists three key recommendations for sustained growth. Brands can grow continuously by inducing repeat sales by making existing customers feel appreciated. They should also expose themselves to potential customers to create a “meaningful difference through compelling creative and targeted media investment.”
Marketers should also ensure that customers should be able to recall the brand at the point of sale. Nigel Hollis, chief global analyst at Kantar’s insights division, said, “The brands that concentrate marketing investment into the moments that matter will be the ones that thrive and grow”.
[2 minute read]