In the age of big data and a world where data platforms feed business growth across sectors, a new kind of brand has emerged. We’ve all heard of sub-brands – like Microsoft Office within the Microsoft portfolio. And many people are familiar with ingredient brands such as Gore-Tex or Bluetooth. But data as a key asset within branded portfolios has created the era of the Super-Brand.
What is a super-brand?
The other day we were using Amazon Prime as a case study for one of our data and analytics clients who was interested in learning about ingredient brands. For many consumers, the $99 annual fee for Amazon Prime membership has become a must-have, a non-negotiable. But Amazon Prime is more than just a membership. Amazon Prime shows up in my Amazon Video experience, giving me early access and free TV shows and movies. It shows up on Alexa-enabled devices such as Echo, and in Twitch and Audible. It’s informing recommendations and a more personalized user experience, and giving me discounts that make sense for me and what I like. Amazon was able to use the forces of machine learning and big data to create a virtuous circle that benefits the brand and consumers alike. The smarter Amazon Prime gets, the more valuable the membership is for consumers – and the more likely they are to rebuy from Amazon. It’s not an ingredient sprinkling a few key capabilities in products or services and it’s not a stand-alone sub-brand housing a discrete set of capabilities. It is creating a pervasive, personalized experience powered by data for the good of all. THAT is a super-brand.
Other brands that rely on data and analytics to inform their business could use this model to create greater value across customer segments and open new revenue streams. Imagine if your wireless carrier used the data it gathers for recommendations, reminders, and insights about your behavior and activity on your phone? Or if your bank used the data it gathers – you’re always late, you’re low this time of month – to offer additional services that change your experience to better meet your needs? Brands are using data and analytics to understand how their customers behave, but what if they used that data to create a product or service that benefits customers, too, so much so that it could drive incremental topline revenue? What if a data and analytics SUPER-BRAND made your brand indispensable because of the knowledge and service you provide to customers without any effort on their part?
We’d love to hear from you.
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