The Need for Transformation
At some point -hopefully sooner rather than later- the company becomes aware of its need for transformation. In this case, it is key that the brand supports and synthesises the development of such transformation process.
Internally, brand drives transformational growth across all functions of the organisation. Hence, it is necessary to merge business and brand strategy ensuring that:
- The brand becomes responsible for the company’s growth and investment
- The Brand strategy drives business decisions at the highest levels of the organisation
- Both strategies include culture and technology while leading the cross-functional change process
The brand understood as a strategic platform enables disruptive change while remaining true to what it stands for, and leads to new customers, more value, and better results.
A brand-driven transformation goes beyond its own modernisation and activation.
The Need for Leadership
To be relevant in a heightened stress environment, companies must engage their audiences through cohesive experiences, including how the brand integrates and synthesises everything that is done and spoke.
Leading brands create innovative experiences that deliver what they promise, ensuring relevant impact across their key audiences. They flow and change while upholding their purpose, principles, and promise.
The Need for Alignment
Target-oriented, Not Product-oriented
Companies must recognise the impact they seek to have on the world. Companies that are grounded in a strategic brand purpose create shared value and resonate with their key audiences. They know why they exist and the difference they intend to make in the world. More significantly, they know how to deliver on those promises.
Tony’s Chocolonely, 100% slavery-free chocolates, recently redefined its purpose and added a new challenge, to assume that as far as sugar content in the product is concerned, they are part of the problem. As they rightly point out: “ Health has been on virtually everyone’s lips since the start of the pandemic. And let’s face it, our Choco owes much of its yum factor to sugar. At the end of the day, however, even if we’re crazy about chocolate, we’re serious about people.”
The change at Tony’s has opened up a range of possibilities for attracting new customers, boosting its growth, again distancing it from its competitors who simply sell good chocolate.
Impact In All Directions
People in their role as citizens are beginning to demand a clear stance on social issues from companies and their brands.
Companies that build their strategies and related impact areas to fulfil their purpose will create memorable, human-centred experiences that demonstrate their efforts.
Any brand can tell a story about how it makes a difference. However, the most relevant brands are the ones that put words into action, let alone act first and then tell the story.
The Need for a Simple Solution
Bringing a new purpose to life and driving business transformation requires recognition of both the company’s ambitions and present, as well as the values and legacies embedded over the years.
The purpose, brought to life through the company’s mission and vision, is a trigger for the way people work, make decisions, and relate to other key audiences.
Companies must care for and nurture their purpose, the values, and virtues it entails, and the possible correlation between the transactional sense of work and the impact on social, environmental and governance guidelines.
Hence the need to keep “under the radar” those variables associated with purpose, both qualitative and quantitative -e.g.: those used by the ESG Standards- to ensure that it is an element that lives in the day-to-day. Put more simply, one must measure in order to decide!
These metrics should address what drives the company’s performance in relation to the benefits it promises to deliver.