Inclusivity is Business 101
The biggest brands are the most inclusive. By definition. Because they sell to everybody. That is why they are the biggest. This is common sense, yet often under-appreciated.
Meaningful difference is how brands craft a value proposition that is appealing to and inclusive of everyone. Kantar BrandZ finds that meaningfully different brands grow at a 3X multiple, and are thus the most disruptive as well as the most diverse.
The fundamental principle of brand growth is building penetration, which means appealing to more and more consumers. That, in turn, requires being open, welcoming and accommodating of everyone. Brands that neglect (or even shut themselves off from) certain consumers, markets or occasions narrow their horizons. In effect, such brands compete against themselves.
Oftentimes, building and broadening appeal means extending a brand into new spaces. The biggest growth brands have always disrupted by pioneering new spaces. But that is hard to do if a brand's ingoing proposition is limited and sequestered.
Since 2006, BrandZ has tracked a $6.6 trillion increase in brand value from brands that disrupted or reinvented themselves by cracking open new spaces.
New spaces necessitate openness to new consumers, different needs and diverse lifestyles. All of which demands the willingness and determination to redefine brand purpose and broaden category boundaries.
In today's uncertain economic moment, growth is harder, making new spaces even more important as a brand strategy. Diversity is immediately at hand as a space of enormous upside potential for brands with the courage to grow.
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