Memorability: Does Your Brand Have It?
Memorability. It’s the most critical growth pillar for premium CPG brands. Why? Because you don’t have the cash, credibility, or sales network with which to leap to 80% ACV in mere months.
So, how do you enhance it?
Design a superbly positioned innovation at the head of your category’s trend curve.
Make the sensory experience stunning. Make it linger.
In Ramping Your Brand, I begin by introducing two critical pillars of growth in consumer brands: memorability and distribution. In September 2020’s issue of PGS Monthly, I expanded on how you can design memorability into your business. Memorability is essential for any brand in any industry, but it’s insanely crucial in a premium-priced product line selling within a crowded category where, on average,~90% of consumers refuse to pay a premium price (at least before they encounter your awesome thing). In many cases, your premium offering will have to persuade them to be discontent with cheaper, existing offerings. If you’re lucky, they were already discontent. And yes, all this involves more than ‘great branding’ (face slap).
The three components of memorability are:
1. symbolic differentiation
3. emotional impact
I write extensively in my book about the first element. But the latter two are important variables and tied primarily to a) the sensory experience of your product and b) your out-of-store marketing communications, especially the often mocked ‘owned media’ you control.
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