How Legacy Brands Are Competing With the Disruptors
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As any Boomer will tell you, one of the few benefits of aging is that what you lose in speed, you make up for in wisdom. When you can anticipate changing needs and conditions, you don’t have to scramble to keep up with them.
Perhaps that’s why C Space’s latest research indicates that the companies that act more human outperform the market, regardless if they are relative newcomers (Tesla, CrossFit), tech-driven, 21st century brands (Netflix, Amazon), or older brands in traditional industries (USAA, L.L. Bean, Olay, Kraft). The legacy companies on this year’s list, in particular, illustrate the importance of marrying heritage with a commitment to constant innovation.
Traditional media companies provide a case study in the consequences of not evolving with empathy for their customers. The media industry, already in a tailspin, wasn’t helped by a grueling election cycle, which undoubtedly had many consumers tuning out news in favor of their next Netflix binge-watching session. It’s clear that traditional media companies, in an era of partisan and “fake” news, have lost credibility with consumers.
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