Throughout the years, entrepreneurs have been exposed to a variety of ‘revolutions’; technological changes that have had to be embraced and where only the strong brands survive. According to Klaus Schwab, Executive Chairman of the World Economic Forum, there are four industrial revolutions:
1. The first industrial revolution which occurred when water and steam power were established
2. The arrival of electricity which made mass production possible
3. The electronic and information technology age of automated production
4. And today, the digital transformation, which merges the physical, digital and biological boundaries
Future-proof your brand during the digital transformation
David Solomon, president and co-chief operating officer of Goldman Sachs, discusses how the significant growth of tech giants and the pace of technological change is leading to “significant strategic shifts” as companies re-evaluate their business strategies and how they compete with their competition.
This is exactly what brands must do to ensure they are future-proofed. By carefully monitoring all the changes that the digital revolution brings and adjusting your business strategy to follow that, you’re strengthening your brand, which puts it in better shape to survive the digital revolution.
Magic and logic
A brand can be seen as the most valuable intangible asset of an organisation and it is much more than just a marketing tool. This is why I sometimes do not understand why brands are not organised in a business administration way. From analysis and strategy to operations and evaluation, a business administration approach for the brand throughout the whole organisation is crucial. Research conducted by SWOCC and VIM Group shows a direct correlation between a brand’s organisation and brand manifestation. In other words: organisations who use a business administration approach in relation to the brand, perform better than their competitors.
Strengthening your brand and brand values goes way beyond creativity, design, colours or logos in this rapidly changing world. Here, it is about profound knowledge and screening your environment, vision, mission, products and the shared beliefs of the whole organisation. Together these factors make your brand strong. Without logic, there is no magic. You have to organise a strong brand.