How the pandemic has accelerated society’s need for sustainable brands
The bar has never been higher for business and brand. Not only must corporations prove their worth, by never faltering on the delivery of a great product and experience, but to stand any chance of survival, they must earn their stripes by making a world of difference.
The pandemic certainly caught foresight off guard. And while there is very little we can do to change what has happened, there is still a lot more we can do (collectively) to protect the rights and resources our future generations will need.
“Build Back Better” is about accelerating business as a force for good — for organisations of all sizes, but especially for brand leaders in developing markets. But this requires a fundamental shift in mindsets; moving away from siloed customer-centricity to multi-stakeholder engagement. It may sound simple but, as with any intention to change, it takes careful planning, good management and full commitment. The reward? People’s enduring support and the returns and impacts that come with it.
That is where Brand Value Creation comes in.
Brand Value Creation (or BVC) is an insight-led, impact-driven approach to corporate brand building that’s underpinned by three notions:
Brand is a lens to help people make better, more informed decisions;
Branding is a measured process designed to co-create lasting shared value; and
Brand value is shared value, enhancing business performance alongside the well-being of communities served.
If willing to follow the plan, BVC solidifies conscious businesses as sustainable and trustworthy brands. What derives is an accurate representation of companies that deliver lasting value for all stakeholders, not just shareholders. In essence, real sustainability, real accountability, and real progress. Not just empty words.
Four guiding principles
Adopting the right approach is essential for BVC. These are our four guiding principles for successful implementation:
1. The right data make smarter decisions faster.
Imagine how different things would have been if we could have had all the information we have now at the beginning of the pandemic. But neither data nor consensus is king — data-informed context is.
2. Design is an expression of purpose, not the other way around.
It must be this way and not the other way around. Whether visual, verbal or experiential, this means Purpose should always guide your identity, not vice versa.
3. Together, builds a better experience all-round.
This is something we have seen repeatedly throughout the pandemic. Trust that together really is better for everyone’s sake.
4. Brand is a measurable asset — manage and protect it!
If it was not clear before, it should be abundantly clear now: Brand is your business’s most valuable asset. As such, effective governance and management are more important than ever.
People. Planet. Profit… Purpose!
Most of us have heard these three words used together. Coined 26 years ago to describe the triple bottom line, the “3Ps” represent the original pillars of sustainability: society, the environment, and economics.
Certainly, in the last decade, we have seen companies become change-makers when fully committed to sustainability, they solve real problems. This comes back to the idea of delivering value for all stakeholders, not just shareholders. And where (a fourth “P”) Purpose has since taken the lead.
Purpose is as much a brand as it is a business imperative.
Full commitment to sustainability is everything — where brand development can no longer be about awareness and perception. Business reality must align with promises, personality and character of its brand, or backlash to the truth will be worse than if environmental and social matters were eschewed from the start.
Below are some of the most important keys to ensuring true sustainability:
Conduct business as if people, communities and environments matter;
Benefit all stakeholders, not just shareholders;
Act with the understanding we are dependent on and responsible for each other; and
Work tirelessly to protect the rights and resources our future generations will need.
Five takeaways to consider for the “new normal”
1. Numbers have shown our approach to business can and should be more purposeful.
Data should always come first — it shows patterns that help determine the right course of action we should take.
We need to reflect on past failures as much as successes if we want to become better, and this isn't easy to do without emotion. Data allows us to view our actions and reactions without constricting narrative and to understand how to move forward better than we were before. This must be emphasised: during times of uncertainty, access to the right data is necessary.
2. We are incredibly social animals.
Science and spirituality agree people who are more connected live happier and healthier lives.
Physical distancing has been difficult for everyone, including introverts and people who dislike being around others. Underlying many protests around masks and lockdowns have been a deep-rooted need to socialise.
Some have handled it better than others, but one thing is certain: people need to be around people. During lockdowns, social media usage and screen time explodes — though it has become clear tech cannot fully replace face-to-face interaction. Brands that have not already taken note of how vital human social behaviours is should do so. Quickly!
3. Our world is unimaginably connected.
We are all deeply connected on two different levels: virtually and physically. And the pandemic has exposed how deeply connected we are on both fronts.
We have seen with speed the virus has spread how physically connected the world has become — and the ability to stay connected via our devices, in the aftermath that followed, really showed how virtually connected we are. Whether in Europe, Africa, Asia, Oceania, or the Americas, we can speak to anybody almost anywhere else in the world in real-time, thanks to global connectivity.
4. We are ancestors and creators of our future selves.
Life abruptly changed, and we all had a crash course in managing a crisis, with many of us experiencing personally-felt impacts for the first time — yet we have adopted innovations seamlessly. They make life better for ourselves and each other.
While there is mixed opinion about the depth of impact versus relief on the environment, the seriousness of global warming and the need for action remains paramount. As a result, there is a vast opportunity for digitisation to add value to society, contribute to public health, the environment, and even preserve biodiversity.
5. When humanity calls, strong brands know how to respond.
Strong brands are Change-makers — people now believe that unless brands play a critical role in addressing social challenges, nations themselves will struggle to recover from the pandemic. Whether utilising supply chains to support relief, taking measures to keep people employed, or doing something out of the ordinary, strong brands are among the first responders. We usually perceive the strongest brands as fully committed to improving the world, putting sustainability at the heart of their operations and identity. It’s this notion that sits at the heart of Brand Value Creation.
Based on these takeaways, customer outreach alone will not deliver you success in this—or any other—new normal. But standing for something and staying true to Purpose always will.
Over to you!
How has COVID-19 affected your business and brand? How is brand strategy helping to navigate these times of uncertainty? Share any insights or thoughts—we’d love to hear from you!
