Brand fans – an untapped source?
Could your loyal consumers be an untapped source for new product development, as well as brand positioning and current offering refinement? Watch to hear about 2 key brand examples of co-creation and positioning with your consumer base.
Branding Before Breakfast Ep 126 Transcript \ Brand fans – an untapped source?
Good morning. Today, I would like to speak to you about key areas that you may be underutilising for your brand. I was reading some insight from Bulbshare, a global consumer research company, and they were talking about Nick’s professional makeup brand.
During the pandemic, they released a community called makeup addicts, and it took makeup artists, brand fans, and influencers and allow them to communicate with each other to think about new product development and also feedback on cult classics. And they found that they had a wellspring of ideas about what they could do with the brand. Really exciting and completely free of charge apart from the management of the community.
So, it’s really interesting to think about your current customers, the fans that are loyal to your brand and what insights they could be sharing with you particularly around new product development. It actually got me thinking about a brand I spoke about quite a few videos back, LEGO. They had historically been focusing on the superhero range, but it was through a crowdsourced competition that they gathered the Ninjago brand. And the competition offered one percent of sales to those who came up with an idea that they were going to use it. And as we all know, Ninjago went through the roof.
They now have movies, cartoons, and all of the products that go along with that. They also use crowdsourcing and research to discover the friends option for LEGO, really being able to interact with the female community and that younger girls’ audience that they’d never really cracked before. So, this morning, I would like you to have a think about who can you be engaging from your current existing customer base?
And, how can they be helping to shape the new products that you’re bringing to market and the way that your brand should be positioning itself. Okay. .
That’s it from me. It’s time for brekkie.
Written by: Jo Whelan
Published: September 28, 2022