Did I really have to tell you what your learned as a child the golden rule of business KISS (Keep it Simple Stupid). Well I have to admit that the team at Foodservice Solutions® at times reminds me as well. So when I read the results of this new study I just had to share it. According to Siegel+Gale a global brand strategy firm “Brands that embrace simplicity tend to enjoy increased revenue, valuation, brand advocacy and employee engagement”. They revealed the top finishers of its seventh annual Global Brand Simplicity Index.
To no one’s surprise “low-price grocery chain Aldi retains the number one spot as the world’s simplest brand, followed by Lidi, a German discount chain. Other top finishers are Google, Netflix, Ikea, Amazon, KFC, YouTube, McDonald’s and Subway.”
Also revealed “simplicity earns a premium: 64% of consumers are willing to pay more for simpler experiences. Simplicity also builds loyalty, with 61% of consumers more likely to recommend a brand because it is simple.”
Brands that don’t provide simple experiences are leaving an estimated share of $86 billion on the table, according to the study. “Ignoring that kind of ROI is crazy,” said Howard Belk, co-CEO and chief creative officer, Siegel+Gale.
Maybe most important simplicity pays off with happy employees. Sixty-two percent of employees at simple companies are brand champions — versus only 20% of employees at complex companies. Five out of six brands representing the restaurant industry are in the top 15, indicating that quick service often means simple service. Our success clue of the day is KISS.
For international corporate presentations, educational forums, or keynotes contact: Steve@FoodserviceSolutions.us the Grocerant Guru® at Tacoma, WA based Foodservice Solutions®. His extensive experience as a multi-unit restaurant operator, consultant, brand / product positioning expert and public speaking will leave success clues for all. Visit: www.FoodserviceSolutions.us for more information