Whatcomes next?
How to become a winner in next year’s Brand Footprint
You now know who the winners are (and those that have struggled), so how do you determine which you will be next year. There are plenty of inspiring examples in our ranking but what are the next best steps you can take.
Every brand is in a constant state of reinvention and needs to reach for the stars, reinvent itself while also staying true to its roots while carving out new paths to growth.
Marketers are getting savvier every year, executing bold strategies and daring to be different with innovations. They’re uncovering the sweet spot between brand, product, and experience. In this year’s report, our analysis demonstrated that innovative thinking ran deep, but so too did alignment with a brand’s essence – the new products and campaigns that held true to the brand promise.
We think there are five key areas where Latam brands can thrive across 2024 and beyond:
1. Set Realistic Targets
You can’t be Coke tomorrow (unless you are already Coke today!) Becoming a Super brand is a journey that takes many years and strong investments. You need to use data to set realistic targets, benchmark your performance against your true peers and remember that the challenge (and the solution) will be different depending on your size. Be realistic about where you are and the areas you need to focus on will become clear.
2. Consider Frequency
Brands of all sizes grow when consumers choose them more often. It’s true that smaller brands grow faster by finding more new places, but for big brands particularly, the real win is a higher frequency of purchase. The Omnichannel landscape is now well established across Latam and performance is now stable following the emergence of different channels and formats. The focus for frequency is to find new ways to battle for each choice. Kantar data can help you identify which of the three brand growth drivers you need to focus on to succeed.
3. Market Polarisation
In many categories a split is emerging between the value and the premium, brands need to identify the place where they have the best price power. Look and see what is happening, not just to your brand but also to your category. Could you become a premium choice? Understand your brand’s price power and how much consumers might be willing to pay if you want to move up the premium ranking.
4. Consumption occasions
The reasons why consumers choose different products are many and varied but two key areas to explore are the differing generational habits and the different moments that people use or could use your products. The snacking sector is a good example, finding new moments to grow but also reaching out to a GenZ audience by targeting their media channel – TikTok – with relevant and enticing messages.
Brand Footprint provides a way forward — a fast-track, if you will — to strategies that work. That’s why you’ll have seen us proactively point to leading indicators, hints of change among consumers and their behaviour — everything from emerging category demand or nascent retail channels, to how consumers behave.
5. There is room to grow
As marketers we are constantly learning, learning our craft and learning about our consumers. The more you learn, the easier it is to identify the key opportunities for your brand. At the same The Kantar Blueprint for Brand Growth highlights the operational levers that marketing can use to drive even more business success.
