The concept of newness has always been appealing to humans, especially in the world of marketing and branding. In a time of non-abundance, brands are constantly striving to create newness to attract customers and stand out from their competitors. But how can brands create newness in a time when resources are limited?
One approach is to focus on innovation. Brands that are able to innovate and introduce new products or services to the market, even in small ways, can create a sense of excitement and anticipation among their target audience. This doesn’t necessarily mean creating entirely new products, but can involve adding new features or making small tweaks to existing offerings.
Another approach is to tap into the power of storytelling. By crafting compelling narratives around their brand, companies can create a sense of newness and excitement even without introducing any new products. By sharing their values, mission, and unique perspectives with their audience, brands can create a sense of emotional connection that transcends the product or service itself.
Examples
Tesla-Tesla has revolutionized the automotive industry by introducing electric cars that are both environmentally friendly and high-performance. The company’s innovative approach has earned it a loyal following of tech-savvy customers who value sustainability and innovation.
Netflix – Netflix disrupted the entertainment industry by introducing a new model for streaming movies and TV shows, bypassing traditional media channels and offering a more personalized viewing experience. The company’s algorithm-driven recommendation system has helped it to build a massive subscriber base and dominate the streaming market.
Peloton – Peloton has introduced a new model for at-home fitness, offering high-quality exercise equipment and live and on-demand fitness classes that can be accessed from anywhere. The company’s focus on community and interactivity has helped it to build a strong brand and a loyal customer base.
Airbnb – Airbnb disrupted the hospitality industry by introducing a new model for travel accommodations, allowing people to rent out their homes or spare rooms to travelers looking for a more authentic and affordable travel experience. The company’s user-friendly platform and focus on personalization have helped it to build a massive following and become a dominant player in the travel industry.
Beyond Meat – Beyond Meat has introduced a new model for plant-based meat products, offering a more sustainable and ethical alternative to traditional meat. The company’s focus on taste and texture has helped it to win over even the most devoted meat-eaters and build a loyal following of environmentally conscious consumers.
Zomato – Zomato disrupted the food delivery industry by introducing a new model for online food ordering, offering a wide range of restaurant options and delivery services. The company’s innovative approach has helped it to build a massive user base and dominate the food delivery market in India.
Swiggy – Swiggy has introduced a new model for food delivery in India, offering fast and reliable delivery services for a wide range of restaurants and cuisines. The company’s user-friendly platform and focus on convenience have helped it to build a loyal customer base and become a leading player in the food delivery market.
Byju’s – Byju’s has introduced a new model for online education in India, offering personalized learning experiences and innovative teaching methods that have helped students to excel in their studies. The company’s focus on quality and accessibility has helped it to become one of the most successful edtech companies in India.
Ola – Ola has disrupted the transportation industry in India by introducing a new model for ride-hailing services, offering affordable and reliable transportation options for people across the country. The company’s user-friendly app and focus on customer service have helped it to build a massive following and become a dominant player in the Indian transportation market.
Lenskart – Lenskart has introduced a new model for eyewear in India, offering affordable and fashionable glasses and contact lenses that can be ordered online and delivered to your doorstep. The company’s innovative approach has helped it to build a loyal customer base and become a leading player in the Indian eyewear market.
Finally, brands can create newness by leveraging the power of technology. Whether it’s through the use of augmented reality, virtual reality, or other immersive experiences, brands can create new and exciting ways for customers to engage with their offerings.
In a time of non-abundance, it can be tempting for brands to stick with what they know and play it safe. But by embracing newness and taking risks, companies can create a sense of excitement and energy that can help them stand out in a crowded market.
