Creating Value Through Meaning
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Amy Du Pon, Havas Media Group Presented at the December SB Corporate Member Meeting in New York City, hosted by L'Oreal
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Creating Value Through Meaning
- 1. CREATING VALUE THROUGH MEANING Sustainable Brands Members December 4th 2013
- 2. • Why being meaningful matters • What being meaningful means in cosmetics 20mins • How brands are bringing to life • L’Oreal exercise: what and how • Discussion • Takeaways 30mins 20mins 10mins
- 3. Most people would not care if 73% of brands disappeared Only 20% of brands notably improve our quality of life Source: HMG Meaningful Brands 2013
- 4. Relationships Are Largely Broken, With Notable Differences Across Markets EUROPE Contribution % of brands improving notably people’s quality of life Attachment % of brands people would care about if they disappeared Source: HMG Meaningful Brands 2013 LATAM ASIA (Mex, Br, Arg, USA (Fr, UK, Ger, It, Sp, Port, Net, Sweden, Russia, Baltics, Turkey) (China, India, Indonesia, Japan) Chile, Peru) 20% 5% 9% 27% 39% 27% 7% 8% 42% 51%
- 5. Unmet Expectations Fuel The Disconnection EUROPE % AGREE 2013 USA LATAM ASIA Brands work hard at improving our quality of life and well-being 40% 29% 36% 46% 53% They communicate honestly 32% 21% 26% 36% 52% I generally trust brands 46% 38% 40% 49% 61% Brands can play a role in improving my quality of life 53% 49% 58% 65% 37% Blue = higher, red = lower than global average Source: HMG Meaningful Brands 2013
- 6. Disconnections Exist Too In Natural Cosmetics 45% People in Europe think that Natural/ Organic cosmetic claims are not credible 88% Hungry for more information and transparency about how the company sources natural ingredients 51% Look for third party certification marks in deciding whether a beauty product is green 46% Place a greater emphasis on product proven effectiveness than the inclusion of natural ingredients Source: Datamonitor
- 7. With Evolving Holistic And Natural Beauty Concepts NEW BEAUTY REALITY For 70% of consumers Physical Attractiveness is important in creating a feeling of wellness / wellbeing A more meaningful & holistic approach to beauty Source: Datamonitor NATURAL DIALOG Over 3 in 10 deem Ethical/ Environmental issues to be important in determining which make-up products to buy Sustainability fuels the natural dialogue
- 8. 21st Century Relationships " 134,000 Consumers " 23 Markets " Over 700 Brands " 12 Industries " Ongoing 5+ years Meaningful Brands is a new metric of brand strength It is the first global framework to connect human well-being with brands It measures the quality of benefits brands bring to people’s lives
- 9. Meaningful Brands Outperform The Market By 120% HM MEANINGFUL BRANDS Index’13 x 120% STOXX 1800 MB Index considers top 25 meaningful global brands (from companies operating in the stock market) MB Index considers top 25 meaningful global brands (from companies operating in the stock market)
- 10. And Meaningfulness Pays In Marketing Terms GLOBAL mb 2013 Personal Care CPG Retail Brand Indicators Highest MBI 13 Lowest MBI 13 Highest MBI 13 Lowest MBI 13 Highest MBI 13 Lowest MBI 13 Overall Impression 86% 59% 86% 69% 87% 45% Purchase intent 49% 20% 49% 33% 85% 27% Repeat Purchase Intent 94% 74% 94% 88% 93% 63% Advocacy 79% 45% 79% 65% 85% 36% Quality of Life Contribution 68% 22% 68% 55% 69% 35% Attachment 68% 20% 68% 44% 69% 34% Source: HMG Meaningful Brands 2013
- 11. By Understanding What Matters Marketplace: Going beyond the product Personal wellbeing: Exploring how cosmetic brands tangibly improve peoples’ lives Collective wellbeing: And the role they play in society Source: HMG Meaningful Brands 2013
- 12. Attributes Behind Our Wellbeing Dimensions • • • • • Happier Self-expression Self-esteem Respect Life satisfaction • Life easier • Better habits • Better organize • Good workplace Fair treatment • Smarter decisions • Learning • Benefits the economy Create jobs Source: HMG Meaningful Brands 2013 • Healthier • Fitter • Ethical • Transparent • Sustainability leader • Connect & share • Reduce, reuse, • Manage my • Belonging recycle spending • Enjoyable co. • Protect • Grow my wealth interactions environment • Grow my income • Build relationships • Sense of purpose • Supports causes • Uses local suppliers • Community development • Socially committed • • • • • • Sustainable sourcing Natural resources Enabler Promotes recycling Reduces packaging Environment committed
- 13. Tomorrow Our Belief And Pathway To Growing Brand Value Meaningful Aspirational Today Functional Cost-advantage Source: HMG Meaningful Brands 2013 Differentiation Make a difference
- 14. Brands That Enhance The Wellbeing Of Citizens, Communities And Societies Are More Meaningful MEANINGFUL BRANDS Global 2013 Source: HMG Meaningful Brands 2013
- 15. A Holistic Wellbeing Approach Is Important For Cosmetics Marketplace outputs ‣ ‣ ‣ ‣ ‣ Good quality Safe & Responsible Useful Innovative Category leader Personal wellbeing EMOTIONAL Happier, Enjoyable, Life satisfaction, Self-esteem, Show-off, Respect PHYSICAL Fitter, Healthier ORGANIZATIONAL Life easier, Good habits INTELLECTUAL Smarter Source: HMG Meaningful Brands 2013 Collective wellbeing GOV & ETHICS Ethical, Transparent, Sust. leader ENVIRONMENT Sustainable sourcing, Water/ Operations, Enabler ECONOMY Benefits Economy, Creates jobs
- 16. Environment And Ethics Are Influential In Driving Impression And Loyalty In Cosmetics Gov & Ethics Environment Natural Relative Importance through the Consumer Decision Journey 110 105 100 95 90 85 80 Familiarity Impression 100: average importance Source: HMG Meaningful Brands 2013 Purchase Intent Repeat Intent Advocacy Quality of Life Attachment
- 17. Dove: Championing The Concept Of Real Beauty, Helping People Realize Their Personal Potential + . Ranked #6 global mbi 2013 Champion + . + . ...tackles a big problem facing society or humanity and attempts to tangibly solve it. ...and has the courage to go where other brands don’t
- 18. Natura: Pioneering Environmental Solutions And Enhancing Relationships, “Well-being, Being Well” + . Champion Ranked #5 Brazil mbi 2013 + .
- 20. L’Oreal Attachment Varies Across Markets Contribution Global % of people who think that the brand notably improves their quality of life India Brazil Spain Peru Argentina Portugal Germany 22% 50% Attachment % of people who would really care if the brand disappeared 67% 61% 57% 48% 48% 42% 38% 51% Cosmetics average 57% 63% 54% 54% 54% 47% 45% 31% 48% 61% 58% 55% 53% 51% 51% 40% 29% 50% 49% 61% 48% 59% 53% 52% 45% 46% Cosmetics average Above market average Italy Below market average Source: HMG Meaningful Brands 2013 Similar to market average
- 21. What Are Potential Opportunity Areas For L’Oreal Global To Improve Performance? Source: HMG Meaningful Brands 2013 mb Matrix L’OREAL GLOBAL
- 22. What Role Does And Could L’Oreal Play? A S P Rebel I R A T I O Pleasure seeker N A L Conservative Magician M E A N I N G F U L Champion Truth-teller Coach Mentor Artist Explorer Guardian Sharer Genius Gambler Prophet Healer
- 23. Some Ways How L’Oreal Is Bringing To Life Today Quality And Innovation Women and Science Employee Action
- 24. Group 1 1) Meaningful attributes 2) Brand role 3) Meaningful connections Group 2 Group 3 Group 4 Group 5
- 25. Embed Initiatives Into The Company DNA And Core Purpose, Anchor Through The Core Product, In Keeping With Brand Role Explore Ways to Scale Through Social And Participatory Models
- 26. Our long-term vision and daily mission: vision: mission: We build MEANINGFUL BRANDS that create better futures for people, for business, for clients, and the world We enable MEANINGFUL CONNECTIONS that create real-time value for brands, people and their communities
- 27. Thank you!
- 28. L’OREAL Italy (best performance) Source: HMG Meaningful Brands 2013 L’Oreal India (lowest performance)
- 29. People Do Not Demand Utopian Lives But Real Outcomes And More Meaningful Lifestyles
- 30. Brands Face High Expectations % AGREE 2013 EUROPE Large companies should be actively involved in solving social/ environmental problems 71% I frequently consider the impact of a brand on people’s 50% wellbeing or the environment when I buy Blue = higher, red = lower than global average Source: HMG Meaningful Brands 2013 USA LATAM ASIA 71% 64% 80% 76% 42% 38% 63% 64%