The pandemic is – hopefully – coming to an end this year. Covid will become endemic, and we will once again adapt to a changed reality. In doing so, we will undoubtedly regain a significant portion of our quality of life. What does this mean for our brands?
New era
A lot has happened in recent years. Many brands, like people, have ventured into new territory, boldly forging new paths to develop their businesses or even to save them from ruin. We've realized that our reality is now different—at the office, within our families, and among our friends.
Not everything has gotten worse. The forced change imposed on us by the pandemic has revealed many operational opportunities. And many of us have realized: We can be faster, more creative, and more efficient than we thought. Many of us have realized: We can also be completely different. We can reinvent ourselves.
New opportunities
Change is in the air! More meaning in life, more sustainability, more humanity, more security, more digital transformation… The pandemic has dramatically accelerated the natural shift in customer needs. The resulting challenges for our brands could hardly be greater. But so too could the opportunities! The Chinese character for crisis, for example, contains two syllables which, read individually, mean "danger" and "opportunity.".
For our brands, the following now applies:
- It's crucial not to miss the momentum that's just around the corner and to seize the strategic opportunities presented by change. To consistently move forward. To develop the business – and above all, not to fall back into outdated patterns of behavior.
- To clarify how they can further build, reproduce, and capitalize on their customers' trust. How they can once again positively surprise customers within the framework of already established expectations.
- To find a way to reinvent their customer value proposition in a market-oriented way and to demonstrate it once again with impressive performance. In a unique way. In the spirit of actively practicing "customer centricity".
New answers
In the "Next Generation of Business" that lies ahead, no brand will be able to avoid finding new answers. It will have to take a significant generational leap. Ideally, from within. Self-determined. Based on its own brand DNA. And with the unwavering will to be different from the rest.
For all the changes that characterize our times, the fundamental principles of brand management remain unchanged: The secret to success will continue to lie in managing the tension between efficient reproduction and bold reinvention of unique features that offer relevant customer benefits. It lies in the substance of the services provided. And in the way you talk about what you do. The difference is what makes the brand! And that will continue to be true in the future.
New Events
As clear as this is in theory, it's quite challenging in practice. What to preserve? What to change? What to focus on? We'll be discussing exactly this at our Brand Bowl events from February 28th to March 3rd on the topic of "Fluid Brands – How Much Change Does a Brand Need?". Vienna, in Hamburg, in Dornbirn and in Zurich. We look forward to welcoming everyone who joins us and wants to find new answers to the brand challenges of our time.