On 22 June, I co-chaired an interactive Working Group Brand Leadership session for the EACD to discuss What’s next for brands, my own personal take on how brands will need to respond to the current climate in 2020.

Here, I will take you through some of my thoughts and will share with you a video of the online discussion.

Looking for tips on how to prepare your brand for the future?

Download expert guide

Earlier this year, I started putting together my thoughts on how Covid-19 would influence our world.

As customer behaviour is a big driver of how the economy responds to such events, my initial thinking was focused on how the customer decision journey would be affected. In early May, I took the time to update my thinking to also consider the impact on wider stakeholder groups.

What’s next for brands – EACD working group for Brand Leadership

The topics I discussed during the Working Group session were:

Thesis 1 – The purpose of “purpose” and ESG will change permanently

In the current economic climate and post-Covid-19, being clear on purpose and adhering to ESG-principles (Environmental, Social, and Governance) will be more important than before.

Thesis 2 – The contract between state and business will change

Due to Covid-19, the contract between state and business will change in many sectors.

Thesis 3 – A brand owner’s impact on the customer journey radically changes

The current physical limitations have pushed customers to online solutions. As a brand owner, this will have a significant impact on the customer journey.

Please view the video of the session and Q&A below. As always, I am keen to hear your feedback or comments on the topics we discussed here. If you would like to discuss any of the themes or content, please feel free to email me at marc.cloosterman@vim-group.com, or contact me through LinkedIn.

Read more in our expert guide:

8 tips to future-proof your brand

How do you ensure that your brand continues to perform well in a rapidly changing world?