“They doubled down on digital, launching their successful rewards program and leaning heavily into McDelivery to really stand out and meet needs during the pandemic,” Glovsky said.
The executive noted that even struggling customers choose brands with excess pricing power three times more often than with low-to-average pricing power, especially as demand for travel and experiences increases. Airbnb, for example, is a brand that has invested in articulating its brand difference to grab more than its fair share of the travel market.
Push boundaries
Brands that put themselves everywhere are also finding success, according to Glovsky, who cited Netflix’s “outsized presence” at the Academy Awards and its Netflix House.
To do that, marketers need to push boundaries. For instance, Spotify is pushing the boundaries as a music streaming provider to becoming a “one-stop shop for all things audio,” moving into podcasts and audiobooks, and soon, paying creators for their video content.
“Kantar’s research found that a brand having or being known to have any one of these behaviors can lead to double its rate of growth,” Glovsky said.