In my first article, I looked at the challenge of engaging customers – and measuring that engagement – in today’s world where we are literally displaced from our roots. I suggested a new framework of ‘currencies’ as a platform for engagement, encompassing: time, relevance, experience and meaning.
When we talk about currency, the first thing most people think of is money. But actually the definition of a currency is ‘something that is used as a medium of exchange’.
Clearly that ‘something’ needs to have some sort of value to each party involved in the equation. But it doesn’t have to be financial. In fact, in today’s world, where we increasingly feel like we’re working all hours simply to spend less time doing the things we love with the people we love, there are far more valuable currencies that brands can draw on to connect emotionally and rationally with people.
Take time. This is perhaps the most quantifiable of the four new currencies of engagement. It is a precious resource that we all have too little of. Brands which can find ways to offer people more time, or more quality time, have the raw materials for a powerful proposition. The Co-operative’s 2011 campaign encouraging people to do away with a mammoth weekly shop and spend the time doing better things captures the essence of this currency well (http://www.retailgazette.co.uk/articles/21123-new-coop-advert-advises-people-to-shop-less).
And what about relevance? So many people today feel trapped in an almost Orwellian world where their individuality is compromised by the routine nature of their lives. But brands can offer a lifeline. By conveying relevant messages that strike a chord with target audiences, we can say ‘we know who you are, we know how you feel’. Get it right, and people will choose and use your brand as a means to feel more connected to their sense of self.
That might sound far-fetched, but it really doesn’t have to be.
Consider the beautiful John Lewis Christmas ad that has received so much attention recently (http://www.youtube.com/watch?v=pSLOnR1s74o). A simple idea, perfectly executed. It is relevant to virtually every family the length and breadth of the UK – whose children aren’t plagued by excitement and impatience in the run-up to Christmas? And of course, there isn’t a dry eye in the house when the young lad presents his mum and dad with their clumsily wrapped gift.
But it is the flawless interweaving of the sense of time with relevance that I think gives this ad its magic. It reminds us what a special and important time Christmas is to families, how differently time is experienced by children and by adults, and how quickly childhood really passes. It encourages us to make the most of our time, and subtly leads us to associate the brand with the precious time we spend with people we love. As the ad ends, we believe that John Lewis really understands who we are and what it means to be a family.
TV ads have the advantage of being able to communicate propositions implicitly and explicitly through words, music and images. But TV isn’t the only medium that can evoke the new currencies of engagement.
Neil Fox, partner: strategy at TDA
