Tips for brands to embrace transformation in the year 2024
Have you ever wondered what makes a brand stand out? Is it their popularity, their strong presence, or their ability to adapt?
Well, adaptability is indeed a crucial factor in the success of any business. Brands that keep up with the changing times and continuously update their marketing strategies tend to achieve great things. While there are some established best practices that have helped many brands, it's important to recognize when these practices become outdated.
Let's take the example of digital transformation. In recent years, brands have been focusing on improving their customer experience, streamlining their commerce platforms, organizing data flows, and preparing for emerging technologies such as AI and blockchain. But what's next? With so many emerging categories, should brands and their agency partners be looking to shift their focus to something new? Well, that may depend on the brand itself.
Max Bon de Veire of M&C Saatchi Stockholm and Re Nordics emphasizes that great branding and digital experiences are interconnected. Following design best practices is a quick way to create digital products, but being brand-led is the key to standing out and achieving success. He states that following best design practices is the quickest way to create digital products. However, to stand out, be engaging, and ultimately succeed, it's important to have a stronger focus on your brand.
Brands that follow the same path as their competitors might end up with similar results, which is safe but not ideal. For example, if every brand in the automobile industry followed the same best practices, we wouldn’t have the unique and innovative options available today. Fiat would look the same as Lamborghini, Tesla, and Volvo. The differences that move the industry forward would be fewer, and the qualities that build brand loyalty and fandom would be nonexistent.
With digital technology levelling the playing field, companies must now step up their game and devise innovative strategies to differentiate themselves from their competitors.
Smaller pop-up shops are gaining an edge over their larger competitors by making a more personal connection with consumers. This has led to a better online presence for these shops, as they don't need a huge physical store to attract an audience. In fact, it's been observed that a more human connection is what draws consumers towards these shops, even if they're not as big as their competitors. It's like a David versus Goliath scenario.
It’s easy to overlook the importance of a solid brand foundation amidst the enthusiasm for technology and AI. However, digital best practices alone can’t transform a brand.
When it comes to transforming a business with branding, imagination is key. The organization should be able to envision a new future for itself, one that breaks free from traditional practices and expectations. Rather than waiting for change to happen, it's about taking control of the business's future. This means being proactive and creating a new destiny, rather than simply reacting to what happens.
He further explains that various aspects such as tone, aesthetic, and point of view hold significant value in influencing our preferences. The brand choices we make as consumers reflect the identity we want to portray, therefore more companies are realizing the importance of investing in the message their brand conveys.
Many businesses are starting to understand the significance of how they are perceived, and as a result, they are putting more effort into the way they present themselves.
Providing an in-person branded experience is paramount to success. By creating a tangible experience that embodies your brand, you create a lasting impression on your audience with a focus on strengthening connections. This is a critical element in establishing trust and building strong relationships with your customers. However, not every brand can navigate significant cultural change.
We’ve known it for decades, but only a few seem to be able to really crack it, often because we get distracted by new ways of doing things, new competitors or new customer trends that override our enduring brand efforts.
He mentions that it's a good thing that most people have moved beyond the notion that a brand can only be revamped by updating its logo. He explains that a brand serves as a relatively secure place, similar to a compass that directs behaviour and motivates action. It assists in product development, advertising, and even recruitment.
To succeed, it is important to align with a brand's vision and direction. Brands should be seen as powerful instruments that clearly articulate a business's unique approach to serving its customers.
