In recent years, it was possible to see a growing increase in the purchasing decision power of consumers for various types of products, more selective in choosing brands that represent the desired item or commodity. In the face of this new market authority, is the power of companies in this relationship declining? Who defines the rules of this game now? And, how can entrepreneurs prepare to try to have a bit more authority over sales?
The relationship of buying and selling has been built in our society since ancient Egypt. In an article titled "A Short Story of Branding", the author highlights that the first commercial use of brands was as a sign of ownership. By placing your name or symbol on an asset, like cattle, the owner could mark his possession. The ancient Egyptians were the first to use marks as signs of ownership at least 5.000 years. And it was from there, clear, that the word 'brand' (marca) came from.
In its essence, the brands, currently, serve for, literally, mark a type of product and declare that it belongs to an entity. Such a need arose when civilizations began to prosper and, in this idea, everyday items started to have several producers, what caused the need for a way to differentiate the origin of each one.
However, in the past, brands did not have the strength and message that they began to present after the industrial revolution and the growing number of competitors for commodities and everyday products. It took more than just a name that could be synonymous with quality – after all, the competitors could obtain the same machinery and use the same production methods – whether through a company story (storytelling), your points of view, solidarity activities or other strategies.
What was a unique activity has become a continuous process. Today, it is possible to see that most companies seek to reach an audience that, by the way, it may even be a same niche for several of them, however, your strategies, values, stories, ways to assign added value to your products are different and, therefore, your approaches are also.
Currently, however, there are so many brands for specific market niches that customers can choose from ten, twenty, thirty competitors, just considering differential points that each one thinks are important. Basically, the consumer makes an assessment comparing several points and analyzing if they align with their ideals.
This has been making, as an example, with several companies starting to care more about social causes, values, social responsibility, innovation, personalization, convenience and agility, after-sales and fair price, entering the battlefield to try to differentiate itself from its competitors and attract potential consumers with the intention of retaining them.
Since the beginning of the use of brands and the creation of branding, the power, or consumer authority, it has only been growing throughout technological evolutions, gaining more and more authority to select the desired products and, today, they have, more than ever, the power of choice.
In light of this panorama, it is clear that authority in the purchasing process has considerably shifted from brands to consumers, that now play an active and discerning role in the selection of what they consume. If before it was enough to have a recognized name to guarantee the sale, today it is necessary to go further: to understand the desires and values of the audience, establish authentic connections and build a presence that directly engages with your expectations.
Thus, the authority of brands has not disappeared, but was redistributed. Now, she needs to be constantly won over, sustained and renewed through strategies that value not only the product, but also the experience, the identification and the shared purpose with the consumer.
