What is it that separates brand leaders from others? Is it spending?  I believe that myth has been disproven many times over – how many brands have spent millions, only to fail (Pontiac, anyone?).  Perhaps it’s time/longevity?  Again, that hypothesis is easy to disprove.  How long did it take the iPhone to become the leader in the mobile device market, one week? 

The reality is that no one thing creates a brand leader.  Such status cannot be bought, but neither is it free.  Last month Trone updated our consumer study on brands and the economy, and the news was indeed grim .  Consumers have made serious changes in their shopping behaviors and for the most part, brands have suffered and will continue to do so.  However, there are brands that consumers are going to stick with, even when money is tight.  Kraft was mentioned by an astonishing 13% of all respondents (N = 1,638) to the open-ended question, “What 3 brands won’t you give up, no matter what?”  To be sure, Kraft spends money on it’s brands, and it’s been around a long time.  But how do you explain brands like Fisher Price making the top 20?

Brand leaders follow several key strategies:
1) They invest in their brands – note to marketers, this isn’t code for “advertising.”  Rather, they seek to understand their consumer and work to meet their needs.  This is not about “selling” products.  It’s about giving your customer what they want. 

2) They know who they are.  A favorite quote of mine is “A principle isn’t a principle until it costs you money.”  Brand leaders know who they are and what they stand for.   Brand leaders not only delight their consumers, they also don’t confuse them.  Whether through product, price, distribution or promotion, they stay true to themselves. 

 In today’s economic climate it’s all to tempting to abandon your core brand principles, or to stop communicating with your consumers.  But brand leaders, the brands with staying power, know who they are, what their consumers want and nuture those relationships, even in times like these.