Reilly Newman | Sometimes as businesses we think we can create the future and our beloved customers will simply follow. This may be true to some extent with very innovative products or services, but for the most part, any business (who wants to stay in business) must be keeping a pulse on the behavior of their audience. This is simply because the behavior of their audience will influence what is expected of their business.
Consumer behavior changes. How we use or don’t use products and services naturally changes as time rolls on. Whether this is due to technology, preferences, necessity, or trends, behavior will change.
Obviously, this behavior forces businesses to adapt or die. The good news is this is where brand-focused businesses prevail. (“Survival of the Fittest” if you will…)
Why do these types of businesses succeed? Why does focusing on something as arbitrary as “brand” benefit and actually protect a business model?
Brand is about being the fittest. Evolutionarily speaking, being the “fittest” actually doesn’t come down to being the strongest, smartest, or fastest. It actually comes down to being the best at adapting.
Brand-focused businesses are more in-tune with the actual behavior of their audience. This in return makes them more flexible and proactive to the behavior of the market. In other words, they are more adaptable.
Instead of being reactionary to the ever-changing market, they will adapt in tandem with the market, they may even evolve ahead of the market and serve the audience’s future need. (read more about Anticipating the Anticipation of the Market)
The need for this adaptable mindset reveals the true power of your audience’s behavior. The consumer’s behavior can influence industries, make or break businesses, and disrupt markets. Wouldn’t it make sense to build your business model to take this into consideration and respect the influence of their behavior? To be adaptive?
By striving to be a “brand-focused” business, your priorities change.
You focus less on the current demand of product/service, and get in-tune with your audience (you know… the human behind the transaction) — this empowers and fortifies your business model because your business is no longer reliant on just the current demand of today solely. Instead, it is now more “diversified” (read more about Diversifying Your Audience) by being adaptable. Not by being the biggest, richest, fastest, youngest, oldest, or smartest…
Your business must keep a pulse on the consumer behavior of your audience in order to survive and thrive. By doing so, you will be less about the present business side of things and more about the adaptable brand side of things.
Sure, you can change your product or service and stay decently current, but only through brand can you communicate the new value of the new needs you are meeting. Help your audience understand the new you — beyond anything you are offering or selling; because does your product or service really make you who you are? Is that what makes your business special?
If so, that does not sound like solid a strategy or business model to me.
Their consumer behavior will influence your market and business.
Only through brand can you adapt accordingly.
