Influx

Is the rapidly increasing pace of information forcing us to cycle through brands and media faster? It’s hard to say exactly, but there are a couple of research studies suggesting this might be the case.

First media consumption.

Lulu.com has done some great research into the shrinking lifecycle of best selling books. It found the average number of weeks that a new No. 1 bestseller stayed top of the hardback fiction section of the New York Times Bestseller List has fallen from 5.5 in the 1990s, 14 in the 1970s and 22 in the 1960s to barely a fortnight last year.

In the 1960s, fewer than three novels reached No. 1 in an average year; last year, 23 did.

So, more evidence of “The Long Tail”, a world with fewer big hits. More stuff competing for our fleeting attention.

The second study relates directly to brands and comes from Y&R’s Brand Asset Valuator research on the Australian market.

One of its conclusions relates to the rapid cycling of brands.

“We have been getting far greater moves in the last three years.” One of the things that seemed to happen is that [consumers] have a greater propensity to transact quicker with brands, to move them in and out of their lives quicker than before.”

Mike Morrison, GPY&R chief strategy officer.

The study suggested that consumers are now looking for brands to do different things because they are “harder” and more “pragmatic”. They are more prepared than before to accept a “great offering” regardless of the company behind it.

Brand values such as prestige, authenticity and tradition, were in decline, but greater importance was being placed on brands offering openness and participation.

What does this all mean for brands?

1. Consumers are more willing to accept challengers who can come from anywhere and at a faster pace than ever before.

2. Innovation is the only protection against churn. You can’t rest on your laurels; you need to keep constantly re-inventing yourself to keep yourself relevant.