10 Jan Back to basics
Whiplash team, January 10th, 2020
Back to basics
The new year is full of challenges: in the middle of a VUCA environment –volatile, uncertain, complex and ambiguous, the English acronym– in which the old models disappear and new systems emerge, organizations face the challenge of going back to the essentials and winning back some consumers who no longer know very well how brands fit into their lives.
Year after year over the last decade we have been seeing how brands have lost relevance. So much so that according to the results of the Meaningful Brands 2019 study carried out by Havas Group, 77% of brands could disappear tomorrow without consumers caring.
In these years we have also seen how different business models disappeared giving way to new ones, in which collaborative economy, responsible consumption and consumer empowerment were key players. In fact, these last ten years have been tremendously disruptive and have caused much dispersion. Therefore, now that a new cycle begins, it is essential to keep focused on what is important.
Since Internet’s mass use and the emergence of social networks and different digital business platforms, industries, companies and brands have had to adapt to the changes imposed by a constantly evolving market. Driven by technological advances and consumer access to information and exchange of opinions from various channels and sources, the business environment is continuously changing.
On the other hand, organizations have gradually begun to actively participate in various causes –environmental, political, social–, in an attempt to connect with the needs and desires of their target audiences.
But for consumers, a brand’s relevance goes beyond sporadic actions. It depends on how they tangibly improve costumers’ everyday life and the role they play in society. Because brands are, after all, part of our lives: they not only offer products and services, but also generate employment, add value to their community and influence public opinion.
Therefore, any action that a brand carries out must be genuinely aligned with its purpose. And that is precisely where they must focus: essentially, on why that brand exists, what the user of that brand wants and needs and how it grows and behaves within its environment.
The purpose is timeless, originates from the identity of the company and gives rise to a mission. It is the reason for the organization, its reason for existing. It is motivating and effortlessly moves into business strategies, and shows on the people, products, presentation and presence of the organization in the market. It is everywhere and everything flows from it.
That is why the actions must be aligned with the essence of the brand. Through their actions, with coherence and consistency between what they say and do, brands can improve their credibility with users while building a relationship of trust and strengthening the business.