This week, I attended the DISCUS Annual Conference & WOTVS Global CONNECT! event to join in on the conversation with spirits industry leaders, decision-makers and supply chain partners. This was an incredible opportunity to dive into some of the mission-critical policies concerning the industry, connect with various industry executives and gain important insights from thought leaders in the spirits space. For me, one of the most interesting discussions of the event revolved around the importance of focusing on ways to generate value and growth as a brand in the spirits industry.
As anyone in the industry knows, there have been tremendous changes taking place over the past few years. New products and competitors like cannabis-infused products, new legislation and regulation, and increased levels of responsibility stemming from diversity, sustainability and moderation initiatives – it can be a lot to navigate and easy to lose your path as a brand.
That’s why, amid all this change, there is an increasing need to focus on the things that have always generated value and growth in the industry. So what does that look like?
Let’s take a closer look at some of those tried-and-true strategies.
Most marketers and brand champions know the importance of creating engaging experiences with brands. But what truly makes an impact? Think back to the last time you were genuinely impressed and inspired by a brand. It wasn't just a single interaction, but a carefully crafted series of micro-moments that left you feeling appreciated and understood.
These are the invisible threads that make up the fabric of customer loyalty. These threads are none other than your customer touchpoints – the moments of truth, the silent but powerful conversations your brand has with customers throughout their entire shopping journey.
[Tater definition]
The infamous “tater.” In the world of liquor, the term “taters” takes on a different meaning, referring to avid and discerning consumers who have a deep passion for premium and rare spirits. Liquor brands find themselves in an ongoing tango with the tater community and consumers find their bottled hopes and dreams slashed by the allocations already cornered by a more aggressive consumer.
Taters do, however, play a crucial role in shaping brand perceptions, as their reviews, recommendations and preferences can significantly influence the purchasing decisions of other consumers. A tater’s impact extends beyond immediate sales, as their endorsement can elevate a brand's reputation and contribute to long-term success in the dynamic and evolving world of liquor. As such, creating the currency of “the insider” by building relationships with tater through exclusive releases, personalized experiences and engagement on social platforms is paramount for brands looking to thrive in the competitive landscape of premium spirits.
Here are five key learnings that can be leveraged from how taters operate.
When designing and orchestrating retail experiences, established and emerging cannabis brands are investing in these modern engagement-led strategies: identifying opportunities for enhanced brand storytelling, increasing the use of technology, creating space for pop-up shops and more. These strategies are fruitful and provide a seamless experience for consumers, but to be truly remarkable, you need to outshine all others in their consideration set.
How do you take your retail experience to the next level?
This past week, I had the privilege of attending MediaPost’s Brand Insider Summit: Pharma & Health, a gathering of some of the brightest minds in healthcare leadership and innovation. From technological advances to cutting-edge strategies, the three-day conference provided a platform for healthcare experts nationwide to spark thought-provoking discussions and share invaluable insights.
Here are my three key takeaways from this pivotal event:
Artificial Intelligence is here, and it is not going anywhere. This is no longer a conversation about preparing for AI; it’s about how, as leaders, we manage its ever-expanding presence with careful intention and purpose.
The effects of AI, especially generative AI, on our industry have been far-reaching and dramatic. In just the past twelve months, we’ve seen the burgeoning technology go from a fun little program to mess around with after work to where we are today, with applications being developed to streamline processes, write ads, generate images, and touch all aspects of the advertising, marketing, and public relations fields.
The Super Bowl – a cultural phenomenon and unofficial national holiday when families and friends gather around screens eagerly awaiting not just the clash on the field, but the unveiling of the most anticipated commercials of the year. But when did Super Bowl commercials become as important, if not more so, as the game itself? I would point to one campaign: the Bud Bowl.
What can today's marketers learn from the Bud Bowl?
As the anticipation builds for the big game, the marketing and advertising industry is gearing up for what has become a spectacle in its own right—the commercials. From brand newcomers to nostalgic throwbacks to the influence of the NFL’s newest “MVP” Taylor Swift, this year promises to be no different.
Check out our observations and insights ahead of advertising's big night.
Brand advocacy is about forging emotional connections and building community to earn a place in the hearts and minds of your customers. And in today's hyper-competitive, volatile and ambiguous marketplaces, where brands vie for just mere seconds of attention in an ever-cluttered digital space, loyalty is still the surest path to growth.
But how do you transform fleeting transactions into brand evangelism and unwavering devotion? First, you need to cast aside tired loyalty programs and forget the one-size-fits-all marketing tactics.
Here are three unconventional strategies that will make your brand magnetic and relevant to your customers:
NRF 2024: Retail's Big Show, kicking off on January 13th in New York City, is already generating major buzz among the press and retail pros.
Here's a peek at what the headlines are highlighting: