We have heard the anti-brand arguments, seen the emergence of anti-brands have read much about the imminent demise of brands, yet brands continue to play a vital role in the market.
Today the underlying trend is towards creating brands that add value and meaning to life - and the true brand leaders are already starting to address this. South African marketers need to really start to understand the changing cultural values of our society so they can become true power brand leaders and not just followers.
Trends evolve around the changing cultural values of society. De-globalisation is a trend that offers local brands enormous potential if they can learn to lead. Market leaders and power brand have for the past three decades predicted trends and evolved to reflect these changing values. If we look at three decades past we see how brands have emulated and reflected societal change.
True power brands are drivers of change, they anticipate trends and the underlying changes in the social fabric of our lives.
So what is the next branding wave? Lets look at the past three decades....
The Brand evolution since the 80's :
The 80's saw the corporate becoming the new order, meaning was transferred away from family life, civic life and faith to the private sector. Branding led the way promising you all manner of personal power through image.
The 80's was the age of conspicuous consumption where we needed to focus on the accumulation of things to provide meaning and a way of feeling connected, important and understood. The evolution of the yuppie and 'more is more'.
Brand became a desirable asset for every business to have and every consumer to own.
Then came the nineties where people demanded new experiences. The emphasis moved from consuming things to consuming experiences. This was underpinned increasingly by less leisure time. Additionally the aspects of our life that had provided meaning, such as family and friends, were undernourished.
By the end of the decade we had spent so much time in themed restaurants, themed experience leisure spots and ended up having the same experience no matter where in the world we were. We then woke up and realized that these were meaningless, sanitised experiences that were taking the local flavor out of just about everything.
Then started the quest for meaningful experiences. We started to consider the value of time well spent. We started to reevaluate, to look for simpler more meaningful experiences.
We started to look for the brand truth. Nike, Enron and WorldCom were only a few who bore the brunt of this change in mindset. Companies started to realize that consumers and staff are cynical about the corporate intentions.
Our new century appeared with consumer demanding more substantial and real experienced, more people opting out and changing their view of life. The search for meaningful ways to live and extract value from everything you do.
Then there is the return to "local flavor". Some of the world's biggest brands are struggling. Mac Donald's and Coke are amongst many. 40 of the world's top 75 brands have lost value.
This is all due to the rise of "authenticity" growing demand for the true, the real thing. Real food, real culture, real medicine, real experiences. A growing demand for face-to-face institutions, ethical approaches.
September 11 cemented this emerging reality. This was start of the growth of cultural capital.
Cultural capital refers to the intangible benefits derived from some of the most meaningful experiences in our lives. There is a huge unmet need that cannot be fulfilled by product features, services or contrived experiences.
Post September 11, people reassessed their lives, relationships with family and friends, beliefs about government and religion, the growth of self as an individual.
Marketers, branders, communicators need to ask themselves:
Brands of the next decade must help provide purpose, create connections and meaningful experiences.
Companies that start to give real meaning to their brand offering and build cultural capital will lead the way into the next decade.
Brands are not going to make something authentic for the consumer. Brands are by their very nature fake. We need to help make our brands enable people to connect, to derive real value through tertiary actions we take as a result of being a chosen brand.
The identikit approach is rapidly approaching closure and consumers want reality.
It is time to change the rules for 21st Century business in Africa. We have a unique cultural heritage and modus operandi. We are typified by diversity and warmth.
It is time local brands looked hard for their real truth and how they are enabling us to really connect with our surrounds and selves.
