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
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