The Insights Family publishes Brand Management Playbook 2023

The world's leading provider of market intelligence for children, teens, parents and families, The Insights Family, has released its first Brand Management Playbook 2023. Among other things, this playbook discusses, demonstrates and debates the key components of building a compelling brand in the children, young adults, parents and families sector.

According to the analysis of The Insight Family's latest Industry Voice 2023 questionnaire, nearly half of brand management professionals believe their marketing strategy is not appealing to their target audience. Further, they do not rate their brand marketing strategy as cost effective or well measurable. 

The Brand Management Playbook 2023 aims to take action to improve the situation in the industry. 

According to Rachel Bardill, SVP of marketing at The Insights Family, the survey feedback clearly shows the challenges facing professionals. One is tight budgets and the ever-changing behavior, or attitudes, of children, she said. Based on the large volume of data The Insights Family provides in their Playbook, stakeholders should be enabled to develop accurate strategies.

The playbook, based on the company's extensive knowledge and insights from surveying more than 700,000 family members in 22 countries each year, tracked and monitored the impact of several key factors that companies must consider when building a compelling brand in a complex family ecosystem.

Among the issues highlighted were the following challenges: 

• Brand community: Compared to their parents, children are more likely to value a sense of belonging when purchasing a brand. Therefore, brands should nurture their audience and give them reasons to stay with them and advocate for them.
• Financial empowerment: How does this impact perceptions of brand value and what are the new opportunities around influencer marketing?
• Health and wellness: The pandemic has reminded us how important our health is. Health and wellness information is the No. 1 factor influencing teen buying decisions. 
• Legislation: Legislative changes in the area of children and families.
• Online & Offline: The world's most attractive companies are in the technology sector; brands must develop the ability to serve both offline and digital touchpoints.
• Personalization: Brands are extensions of children's personalities that their peers can see and be influenced by. It is important that brands allow their fans to express their individuality.
• Value for money: Financial turmoil means parents are more likely to choose value for money over an attractive brand.

The free Brand Management Playbook 2023 can be downloaded at: https://go.theinsightsfamily.com/brand

Source: www.theinsightsfamily.com