Jessica Holdcroft: Partner | Prophet https://prophet.com/author/jessica-holdcroft/ Fri, 15 Nov 2024 09:12:46 +0000 en-US hourly 1 https://prophet.com/wp-content/uploads/2022/05/favicon-white-bg-300x300.png Jessica Holdcroft: Partner | Prophet https://prophet.com/author/jessica-holdcroft/ 32 32 Beyond Boundaries: 5 Steps for Creating Iconic Destinations  https://prophet.com/2024/11/destination-brand-strategy-abu-dhabi/ Thu, 14 Nov 2024 21:37:50 +0000 https://prophet.com/?p=35253 The post Beyond Boundaries: 5 Steps for Creating Iconic Destinations  appeared first on Business Transformation Consultants | Prophet.

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Beyond Boundaries: 5 Steps for Creating Iconic Destinations 

Discover how destinations can craft compelling brands and implement strategic approaches to attract global travelers, foster emotional connections and stand out in a competitive market.  


As we approach the end of the year, tourism has shown strong signs of a full recovery with today’s travelers relishing the freedom to explore. International visitors to the Middle East are especially eager: it’s the only region to have surpassed 2019 levels, up 22% last year, according to the United Nations’ World Tourism Barometer. Europe is close behind. And while that rising tide of tourism is generating record spending, it also presents a unique challenge for every country, city and region striving to attract visitors. What makes people pick Dubai over Denmark? A weekend in Istanbul instead of three days at a spa? The Abu Dhabi Grand Prix versus Monaco? 

Even the most established and well-known destinations must actively work to attract every visitor, while new and emerging locations need to go further to gain attention on the global stage. They must build compelling brands that not only resonate with consumers but are also grounded in consumer insights, strategic rigor, creative innovation and an unwavering commitment to a unified vision. In this fiercely competitive arena, cities and countries aren’t just vying for tourists. They’re looking to cultivate a tourism base that drives economic growth and leaves a lasting impression on visitors. Often, they’re competing against regions with far larger marketing budgets. Winning requires sharply defined target audiences, inspiring first-time visitors and turning them into lifelong advocates.  

To stand out, every city, region and country must craft a unique narrative that sets it apart. At Prophet, we believe there are five critical elements that every destination should consider when building and strengthening its brand.  

1. Tap Into Travelers’ Desires and Needs 

Successful destination branding begins with a deep, authentic understanding of today’s travelers, who care more about experiences, environmental responsibility and the positive impact on local citizens. Fresh consumer research acts as a guide for destination marketers, revealing traveler preferences, perceptions and untapped opportunities. This insight enables brands to make strategic choices about which traveler segments to target and how to best appeal to them in the race to relevance – whether with luxury shopping experiences or family-friendly excursions.  

For example, the enchanting city of Istanbul, consistently a Top 10 destination. Istanbul continues to feed this fascination through research, curating experiences catering to history buffs craving a glimpse into the city’s storied past and millennials seeking Instagram-worthy moments amidst its bustling streets.  

Consumer insights also shaped our recent collaboration with the Department of Culture and Tourism as we worked to develop the destination brand for Abu Dhabi. We realized that in a world that never stands still, Abu Dhabi reawakens curiosity, inviting visitors to experience the city at their own pace. While traditional destination branding focuses on landmarks and attractions, this visitor-centric approach is rooted in four vital human passions: Inspiration, excitement, restoration and prosperity. It appeals to a broad set of travelers and showcases the Emirate’s breadth, from the Louvre Abu Dhabi to star gazing at the Al Wathba fossil dunes. The global “Find Your Pace” campaign aimed at inspiring curiosity for every type of traveler, invites them to escape the hustle and bustle of everyday life and discover their ideal pace amidst the Emirate’s serene surroundings. It’s working. This traveler-focused strategy has driven impressive results, including an 82% boost in awareness and a 75% rise in consideration.   

2. Transform Perceptions and Challenge Old Ideas 

Tourism can be a significant driver of economic growth, generating revenue and creating jobs. By shaping positive perceptions, destinations can attract more visitors, strengthening local economies. For instance, Saudi Arabia’s “Visit Saudi” campaign has challenged global perceptions through stunning imagery and captivating storytelling, presenting the Kingdom’s diverse landscapes, cultural heritage and modern marvels. Through visually striking and compelling narratives, Saudi Arabia has successfully repositioned itself as a must-visit country, welcoming over 100 million tourists in 2023 – a milestone it initially didn’t expect to achieve until 2030.  

3. Personalize Experiences 

As today’s consumers increasingly seek tailored experiences, destinations must move beyond generic marketing. Oman has positioned itself as a haven for intrepid adventurers and luxury seekers, with rugged landscapes and tranquil oases that offer a sanctuary for discerning consumers looking for authentic encounters. While Jordan’s eco-tourism and Morocco’s culinary and scenic offerings attract diverse traveler types. By appealing directly to specific preferences, these brands create authentic, memorable experiences that resonate deeply with visitors. Cultural nuances add depth to these campaigns, helping destinations inspire one-of-a-kind vacations.  

4. Create Emotional Connections 

Emotion lies at the heart of every memorable brand, especially those offering transformative travel experiences. Destinations like Egypt understand they’re marketing emotions, not locations. By repositioning its ancient wonders as symbols of adventure and luxury, Egypt has redefined its appeal.   

The best brands use every sensory opportunity to stoke these emotions with powerful visuals and well-thought-out verbal expressions, evoking powerful feelings of relaxation, awe or excitement to make their destination unforgettable.  

5. Embrace and Respect Local Culture 

Sustainable destination branding must respect and preserve local culture, which is increasingly valued by conscientious travelers. This interest fuels demand for immersive experiences, from visiting local farmers to shopping with native designers. People want to see more than a hotel lobby or the view from a tour bus. They want to know who the local people are, so cultural immersion and local tours remain a top priority. 

To strike the right balance, destination brands need to avoid clichés, celebrate authentic local heritage and emphasize respectful, sensitive marketing. By focusing on authenticity, brands foster meaningful connections, cultivating understanding between visitors and local communities, creating a win-win for travelers and locals alike.  


FINAL THOUGHTS

A visitor-centric approach, creatively inspired and powered by consumer data, can unlock many opportunities. Destinations that stand the test of time and drive economic value creation understand their target audience and carve out a unique position in the market. Unlocking relevance, ensuring authenticity and building connections is the route to success.  

The post Beyond Boundaries: 5 Steps for Creating Iconic Destinations  appeared first on Business Transformation Consultants | Prophet.

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New Strategy, Same Old Story: Your Story of Value Needs an Update https://prophet.com/2024/07/new-strategy-same-old-story-your-story-of-value-needs-an-update/ Fri, 19 Jul 2024 19:26:39 +0000 https://prophet.com/?p=34621 The post New Strategy, Same Old Story: Your Story of Value Needs an Update appeared first on Business Transformation Consultants | Prophet.

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New Strategy, Same Old Story: Your Story of Value Needs an Update

How updating your Story of Value can close the value gap and accelerate strategy execution.

The Frustrating Gap between Strategy Definition and Value Capture   

The poly-crisis moment that we (hopefully) are all navigating has generated a nearly ubiquitous reset of corporate strategies. According to Gartner, 79% of CEOs will have revisited their business strategy for the post-crisis environment by the end of 2024. These companies are now shifting attention to strategy activation to capture both productivity gains and growth.  

This is a profound pivot and, not surprisingly, teams are struggling to execute at pace. In our work with CEOs beginning in late 2022 and extending to today, we have seen a sharp increase in dissatisfaction with what you could call “value appreciation”. These laments commonly take one of the following forms:     

The Valuation Gap – “Our topline performance is strong, and we’ve built a superior platform. We’re aligned to long-tail secular trends. But analysts are having to work too hard to find that story line.” – Technology CEO 

The Differentiation Gap – “We have a unique collection of assets, especially our software/hardware stack, but no one, including our sales teams, can articulate a distinctive value proposition.” – Industrial CEO  

The Narrative Gap – “Our balance sheet is strong. Our portfolio matches the market. We have talented teams and everyone is working hard. But our corporate narrative is outdated. Everyone has their own version of what’s going on. We need a new, clearer, more inspiring story to rally around.” – Financial Services CEO   

These sentiments and others like them are being expressed by talented executives that have led global teams through multiple crises. They have successfully updated their strategies to meet the moment. Yet today they are also identifying a missing link between strategy articulation and in-market execution. Gaps that have material impact on share price, sales performance and talent economics.  

The Story of Value 

Working with these leaders Prophet has developed a new leadership tool, The Story of Value. At the highest level, the story of value brings the assets of business – both hard and intangible – into a sharp, distinctive and inspiring narrative. It is a story that crystalizes the value that the business creates for shareholders, customers and employees, defining its unique and essential role in the world. It simplifies a complex business into a compelling statement of value – a common language for executives and teams in words that are proven to win in the market.     

Companies are using Stories of Value to pull business strategy forward into various strategy execution workflows, including: 

  • Increasing performance of customer marketing and sales effectiveness through sharper value propositions.
  • Aligning corporate communications around a distinctive market narrative focused on core value.
  • Updating the employee value proposition and modernizing foundational corporate assets (e.g. purpose statements, values, brand positioning) to create a more cohesive culture.
  • Arming finance, corporate development and IR teams with stronger investor day and roadshow presentations. 

Writing Your New Story of Value  

Creating an effective Value Story requires going beyond frameworks and workshops. The Story of Value methodology combines a rigorous focus on asset value with market-back insights on value drivers. This data moves through a process that forces clarity and elevates language, culminating in market testing to refine the work and validate its business impact. The end result is both a practical, execution-ready deliverable and a leadership experience that builds cohesiveness and shared belief.  


FINAL THOUGHTS

Is your company undervalued? Does your distinctiveness shine through? Are your teams on the same page with a winning narrative that drives commercial momentum and employee engagement? Have you updated your business strategy but feel that it’s not moving forward fast enough? It might be time to update your Story of Value.  

Ready to build your Story of Value? Schedule a workshop with us.

The post New Strategy, Same Old Story: Your Story of Value Needs an Update appeared first on Business Transformation Consultants | Prophet.

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Purpose Driven Brands are Relevant Brands https://prophet.com/2019/09/purpose-driven-brand-relevant-brand/ Sat, 14 Sep 2019 19:10:00 +0000 https://preview.prophet.com/?p=8436 The post Purpose Driven Brands are Relevant Brands appeared first on Business Transformation Consultants | Prophet.

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Purpose Driven Brands are Relevant Brands

Why IKEA, DIsney and Lush resonate with consumers in the UK, because they know actions mean more than ads.

It is well reported that brands with purpose outperform their peers; often attracting and retaining the best talent, providing a real point of difference for consumers. Unilever announced strong results that support this notion with purpose-led brands in their portfolio growing 69% faster than the rest of the business and delivering 75% of the growth.

The results of our 2019 Prophet Brand Relevance Index® (BRI), which speaks to 12,200 consumers in the UK to understand the brands most indispensable to their lives, shows that many of the brands successfully soared up the rankings are the ones centered on clear, authentic purposes. Brands like Lush, Ikea and Disney have all seen their relevance with British consumers increase over the past 12 months and they were classified as purpose-driven brands in the U.K.

“It is well reported that brands with purpose outperform their peers; often attracting and retaining the best talent, providing a real point of difference for consumers.”

So, what do purpose-driven brands do to drive success? Purpose exists to differing degrees in organizations and even for those that are truly purposeful, there is an ongoing journey to maintain the conversation and engagement with consumers in order to stay responsive in an ever-changing world.

Here are three fundamentals to become a purpose driven brand:

1. Identify a purpose rooted in truth

A purpose cannot just be invented. It is not just a slogan or a campaign. A purpose-driven brand knows why it exists, and what it wants to achieve. It is at the core of what makes the brand relevant because it is in the DNA of the company. Ikea, for example, knows the importance of brand purpose and stays true to its guiding principle to ‘create a better every day for the many people.’ Even as Ikea continues to grow, its relentless focus on bringing design to the masses in a way that is authentic and transparent has manifested itself across the entire business model. This year, the brand jumped up 10 spots in our BRI, to sit comfortably at 18.

2. Articulate the ‘why’

A purpose should inspire its audience, acting as a rallying cry for its employees as well as a demonstrative signal to the outside world of the values and belief system behind the company. To drive impact, the purpose must resonate with hearts and minds.

A great example of this is Disney, which climbed to No. 14 in the Index with its simple and inspiring purpose: “make people happy.” Not only is this rooted in the organization’s DNA, but it inspires across all levels of the organisation and drives behaviours in the pursuit of constantly increasing happiness. This single unifying principle speaks to the heart. And when a purpose speaks to the heart it has the power to truly inspire change.

3. Activate with conviction

A purpose-driven brand doesn’t make empty, albeit appealing and cleverly executed, claims. It actually uses its brand purpose as a yardstick to measure what they do and how they do it. Brands that possess purpose have a clear conviction; they don’t just talk, they act too. Purpose drives relevance and perceptions, but to do so employees and customers need to know about it.

Lush has long been a proponent of cruelty-free and vegan products. And whilst much has been made of previous campaigns what constantly remains at the core of their actions is a real conviction. Lush doesn’t just talk about the environment, it acts on it. It is a big deal to put your conviction above profit but that’s precisely what the brand did on Friday 20th September when it closed its stores and website to lend its voice to the climate crisis. It is no wonder Lush powered into the top 10 this year, with British consumers scoring it highest on relevance measures such as ‘has a set of beliefs that align with my own’ and ‘lives up to its promise.’


FINAL THOUGHTS

Brands need to learn that it’s actions and not ads that make the difference. To build a relentlessly relevant brand, and perhaps move through next year’s Index, you must identify your organisation’s true brand purpose, articulate it well to employees and customers, and activate it for the world to see.

If your brand is ready to become a purpose driven in order to unlock uncommon growth, let’s set up a time to discuss. Our team of strategic consultants is ready to help you chart the course.

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