«The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails». What the American author William Arthur Ward once said, most companies have to do again and again in today’s increasingly dynamic business world: reset their sails.
Volatility and disruption are now on the daily agenda. Customers are changing their information and buying behavior at an unprecedented rate. The world is becoming faster and more transparent due to digitalization and data availability. And it is becoming smaller due to globalization, but at the same time more confusing. The Covid 19 pandemic has increased the pace of change even more. Business leaders from small SMEs to global enterprises are challenged by new trends in society, the working world, corporate governance and marketing. Companies can only successfully stay on this roller coaster of challenges if they can adapt to these new realities with the best possible agility. The ability to anticipate the omnipresent change, to manage it actively and to use it positively for oneself often decides about market leadership or decline.
“Change” is the magic word of this decade. Companies are challenged to change and adapt to the new realities. In a recent study by Horvàth, a global performance management and transformation consultant, 68 percent of the companies surveyed said they had established a specialized transformation and change management team in recent years. So the readiness for the required agility is there. Companies have recognized that they need to take action to change.
The brand plays an important role in these change processes. If it is strong, the brand serves as an indispensable management tool, especially in turbulent times, and creates clarity both internally and externally. This is why the brand has never been as important as today.
On one hand, the brand helps to set the sails anew: In these turbulent times, companies are challenged more than ever to think about what their brand stands for, what it doesn’t stand for, and where they should go next. Strategic brand management is the best instrument for initiating change processes in a company.
There are five central questions that need to be answered: 1. Where is my market heading and am I meeting this trend? 2. What are my performance strengths and weaknesses? 3) How attractive am I for my customers and how contemporary am I? 4. How clearly do I differentiate myself from the competitor? And, 5., am I able to deliver on my brand promise in a credible and relevant way? Experience shows that the answers to these questions demonstrate with great accuracy the direction in which a company, or rather the brand, must develop.
On the other hand, the brand is the only instrument that can communicate the readiness for transformation to the external stakeholders of a company by means of a contemporary appearance. Those who adapt to the new circumstances organizationally, but do not make this transformation visible, have only done half the work. True to the motto “Change and show the world”.
One thing that must not be forgotten is that the fundamental shift in communication to the digital world and the digital offerings of disruptors have radically changed the aesthetics of brand images in recent years. Image dominance, flat design, geometric typography, motion design, the tiling principle, reductionism and responsive logos are just a few of the keywords. Those who want to do without these design fads run the risk of appearing old-fashioned and less contemporary.
Unfortunately, many brands lack the courage to break with outdated design traditions and adapt their visuals to the new times. Often, this requires more revolution than evolution. In this way, they not only miss the opportunity to increase their attractiveness to stakeholders – and especially to customers – but they also miss the chance to make their ability to transform tangible to the outside world. And this is precisely the right step to take in view of the dynamic changes in our economy and society.
Change always means opportunity and risk at the same time. But if you don’t want to drown, you should rather focus on the opportunities. Are you ready for this? – Brandpulse makes change happen.