We as people aren't easily influenced as we were once. We learned from all the mistakes that were made. Though the internet and the growth of technology exposed us to many messages that try to influence our decisions and way of thinking and nudge us in a certain direction, we are becoming more conscious about it. We now try to evaluate both: The messages we receive and their sender. We often try to understand why these messages are reaching us and why is the sender sending them. We often ask ourselves, "how do they want to influence me?" Sometimes irrelevant content appears on our timelines. We say there is "a glitch in the Matrix" in reference to the movie and laugh it off. Still, we as people allow others to influence us. We love getting input from others that validate our opinions or weigh in on difficult decisions. We want the outside help; we just don't want it from anyone. We want it from people we trust. We want the influencing content to be rich and well thought off. We want the influencing messages to help us make good decisions. We don't want nefarious and malicious outsiders influencing us to make our lives complicated and sad.
Why is it essential to have an influential brand name?
Understanding this advancing conscious mentality and understanding how most people think and behave can set your brand apart from all other brands. First and foremost, as a brand manager or brand owner, you should always act responsibly with a duty to your brand and to the public. Businesses exist to solve a problem that people face. In this huge global economy, there is an abundance of options for your consumers to choose from. What differentiates you from your competition isn't just the price, quality, and availability. People tend to buy products and services from the companies they trust and believe in.
Coca-Cola has built a strong brand around spreading joy, excitement, confidence, and trustworthiness. Coke is a drink we like to enjoy after a long day to relax and cool off. For years, their brand name inspired joy in customers. They have been ranked the best soft drink company for years, generating huge revenues and influencing their industry (influencing the world). You probably can't find anyone on this earth that doesn't recognize the white lettering on their red bottles. Sponsoring huge global events like the World Cup, Coca-Cola is always looking for ways to associate its brand with good times and sell its customers happiness. For years, Coca-Cola worked to integrate its name into our daily lives by pairing the drink with meals at fast-food restaurants or advertising itself as an essential component of traditional celebrations. Their "Share a Coke" campaign helped them get involved with their customers personally. People would look for their names on Coke bottles to share on social media, or they would look for bottles with the names of their loved ones to share with them as a gift. Coca-Cola influencing us to use their soft drink as gifts or unknowingly promote their brand on social media shows that they are deeply involved in our lives. They are so involved that they help us grow our relationships with others and show our loved ones that they matter to us. They are so influential that we view them as conversation starters when talking to the world on social media. When we share on social media pictures of our names on a coke can. We at Spica like to call this kind of brand an influential brand. Influential brands are involved in our personal lives, influence our decisions, and help shape our interactions. We love them as consumers and trust them. But this love and trust was not easily given to them, and its not unconditional. One little thing can damage and change the whole relationship. A scandal, a defective product, bad publicity, literally anything, can affect our relationship with these influential brands.
Clash of The Influential Brands
Look at Coca-Cola and Cristiano Ronaldo's Euro 2020 incident. Coca-Cola was sponsoring one of the world's biggest sports events, and all eyes were on them. Everything was going well for them that summer until Cristiano Ronaldo's press conference in the Euro 2020 last summer. As an advocate for a healthy lifestyle, the Portuguese superstar was troubled by the presence of two sugary coke bottles on the conference table in front of him and removed the two bottles. Cristiano Ronaldo is considered one of the best in the history of football. He is the most followed person on Instagram, and his personal brand goes beyond football. He has built a brand image based on dedication, exemplary work ethic, being a good role model, and helping others. His actions at the press conference got onto mainstream media quickly. It made it to the headlines. People were sharing the video of Cristiano removing the coke bottles. The whole world was talking about it. With almost the whole world watching the video, people got the message: If you want to compete and perform at the highest level, live a healthy lifestyle, and be like Cristiano Ronaldo, you should not be drinking soft drinks. Ronaldo's actions served as a reminder from a trustworthy athlete to the whole world about the dangers of soft drinks.
Even though Coca-Cola didn't do anything wrong, it didn't defraud investors or willingly lied about its product, their brand name took a hit. Following the incident, Marca, the Spanish newspaper, reported that Coca-Colas shares dropped 1.6%, from $56.10 to $55.22, shaving $4 billion off Cola's market value. On the same day, other S&P 500 companies rose 0.4% in valuation, while the beverage giant's market value declined. On the other hand, the Portugal Captain was having the time of his life. He was breaking records on and off the field. He became the record holder for the goals scored in the European Championship. He was getting tons of positive publicity, with people from all over the world were praising him for promoting healthy lifestyles. Shortly after the incident, he broke the record for the most followed person on Instagram with 300 million followers.
What We Can Learn:
We know that Both Coca-Cola and Cristiano Ronaldo have their own strong brands. Each brand is built on a strong foundation of personal principles and goals. The messages each brand sends could have a direct or indirect effect. Like a rock thrown into a lake, the ripples could turn into waves and impact others. Depending on the size of your brand and its influence, the messages you send could create huge waves. But building an influential brand is not easy. Looking at both Cola and Ronaldo, each one has their own brand. Each brand is built on a strong personal foundation. Cola has spent years building its brand by sharing joyous moments with us, giving us funny and entertaining Ads that we can relate to. The Portugal captain's brand name, on the other hand, has been built with his incredible performances on and off the field. He brought joy to his fans with his phenomenal displays. He inspired them to work hard and dedicate themselves to becoming better day in and day out. He also inspired the world with his actions off the field, helping charities and people in need worldwide. Your role as a brand owner or brand manager is to build your brand around some goals and principles. These goals and principles should be close to your audience's heart. Your brand name should inspire the consumer's trust. You should find a way to understand your customers and maintain a happy relationship. You should look for ways to be involved in their lives and positively impact them.