The Insights Family – the global leader in kids, teens, parents, and family market intelligence, and MarTech company of the year – has launched its inaugural Brand Management Playbook 2023 (https://go.theinsightsfamily.com/brand), which looks to uncover, present, and discuss the key components of building a compelling brand in the kids, teens, parents, and family space.
Off the back of The Insight Family’s recent industry voice 2023 survey, it is clear that almost half of professionals across the brand management discipline feel strongly that their marketing strategy doesn’t engage their target audience. Over half of industry professionals don’t believe that their brand marketing strategy is cost effective, or easy to measure. This paints a worrying picture for a changing eco system. The Brand Management Playbook 2023 will take steps to help address this state of play for the industry.
The playbook, which uses the company’s extensive knowledge and intelligence of surveying more than 700,000 family members across 22 countries every year, has continued to track and monitor the impact of several key factors that organizations need to be aware of if they are to build a compelling brand within a complex family ecosystem.
This approach has resulted in some key recommendations and a real-time understanding of the challenges brands face today. The themes discussed in the Insights Family’s Brand Management Playbook 2023 include:
· Legislation – Legislative changes within the kids’ and families’ spaces.
· Online & Offline – The world’s most compelling businesses being operating within the tech sector; brands need to develop the ability to serve offline as well as digital touchpoints.
· Value For Money – financial turmoil means parents are likely to choose value for money over brand appeal.
· Financial Empowerment – how does this impact the perception of brand value and what are the latest opportunities surrounding influencer marketing?
· Brand Community – Compared to their parents, kids are more likely to value the feeling of belonging when buying into a brand. Therefore, brands should nurture their audience and offer them reasons to stay and advocate.
· Personalisation –Brands act as the extension of kids’ personalities, that their peers can see and be influenced by. It is important for brands to allow their fans to express their individuality.
· Health & Wellbeing – The pandemic has reminded us of the importance of our health. Health and wellness credentials is the no.1 factor influencing teens’ decision to buy a brand. This trend is particularly present in APAC where traditionally, wellness has been embedded in the culture.
Rachel Bardill, SVP of Marketing in The Insights Family comments ‘Feedback coming in loud and clear from our ‘industry voice survey 2023’ is that it is a tougher year than most for professionals both economically and creatively. Budgets are tight and kids continue to change their behaviours and attitudes significantly. The precision and comprehensiveness of our data and what you see in this report continues to provide intelligence, drive accurate strategies and offer much needed support to clients as we navigate this year.’
The complimentary Brand Management Playbook 2023 is available to download by visiting: https://go.theinsightsfamily.com/brand