The Good Chair Talk on Future Brands
Advertising used to be void of meaning, void of purpose, being funny for the sake of being funny and just spending a lot of money and wasting most of it. There has been an emptiness in messages out there, and people do not want to take business seriously.
Things are changing radically, hugely for the better. Today there is a purpose in branding.
Future brands will be conscience, transcendent and transparent.
Society has changed radically, and brands have not been able to keep up. There has been a flip from brands leading to a community demanding, saying clearly what they want. Society and culture are moving faster, and brands have to sit up and listen and take note to keep up. They don’t have a choice. The challenges of tomorrow need a fresh perspective today. To bring about real change, we must uncover new opportunities.
Businesses with purpose should be the winners of tomorrow. Workplaces need to be inclusive with a net-zero carbon footprint, and the growth of business should benefit the good of society at large. It is time to step up through cutting edge thinking and global research.
The future is being reinvented. Since the pandemic, there have been substantial changes in priorities, with health, poverty, education, environment and freedom, and safety as significant issues for people worldwide.
Brands should have a purpose beyond profit – accountable and responsible to their consumers. Consumers drive brand behaviour. Brands do not drive consumer behaviour. There is a massive movement from the consumer to ethical and competent stakeholder behaviour. Brands are going the be held accountable and be responsible for their actions to the very core. People want things to be better for good, they want prosperity, not poverty, and they want to live with confidence and not insecurity. We need to grow sustainable economies, not just economies, to create prosperity. Future brands need to be assertive, confident and make brave decisions.
How people are reacting to your brand says much more than you can say about your brand.
Future brands are becoming more caring, creative, and innovative. This requires collaboration and digitization. Vulnerability is necessary if we wish to lead effectively. People need to trust brands. That is the core of a competent and ethical brand. Consumers expect you to behave intelligent and honest. We need to take a stand on diversity, equity, and inclusion, which together form transparency.
Attention is demanded in the environment, society and government. The pandemic heightened realization of interconnectedness, external factors affecting global economies, trust, and transparency are central issues—the moral obligation to consumers. Quality becomes an essential requirement – not a differentiator.
Adaptation to AI (Artificial Intelligence) and strategic/design quality will become the most critical differentiators in future brands. Consumers will only listen to brands that cut through the clutter. Awareness tops loyalty.
Digital is offering us an enormous amount of information and opportunities we haven’t caught up with. What these innovations have done is made life easier for us. Remote working, selling, and shopping are here to stay—the surge in advanced analytics and AI adoption. If you do not know your customer, you are going to be spending money and wasting it. AI is not a nice to have. It is our future. You can use AI to stop bombardment and enhance innovative communication.
People need to speak to people, but we can use AI in various ways to improve this connection.
Brands will have expansive ecosystems and become fluid in expression. Brand ecosystems are expanding hugely through partnerships, connection, and digital incorporations. AI integration resulted in resilience, personalization, dynamic pricing, less fraud, trust and in the future, you will have exponential growth opportunities.
Future brands are the sum of visuals, message, and experience. Your brand has to adapt in purpose, how it engages within society, what it is reporting on, and how it interacts with people. There is a need to hardwire for value and rewire for the purpose by adopting bold, confident, and research-informed strategies. Brands will become friends and seamlessly part of everyday life.
Brands should be fearless in the courageous pursuit of purpose.