By: Isabel Blasco Ramos, Managing Director of Interbrand Mexico

Isabel Blasco Ramos, Managing Director of Interbrand Mexico

2020 and 2021 are being surreal times for all the industries. Further beyond calling them challenging times, we are living in a surreal age.

If every economic recession seen in the past has been time to maintain brand building to survive the next recession, this global pandemic age has taught the world that building and maintaining strong brands is the best (and only!) way to reduce business risks. Branding (and design) Industry has an enormous opportunity to go hand in hand with CEOs and brand owners that have understood that only the strongest and the ones that have adapted to the expectations and needs of today’s consumers will continue in the market. With this said, opportunities for branding are huge. More than an opportunity, investing in branding is a must for brand owners.

In times of crisis brands can be consumer’s best allies and within the chaos brought by covid-19 and consequent widening of the leadership gap in the markets, more opportunities have opened for an array of companies and brands; both, well established- long term brands and newborn brands.

This pandemic has fundamentally shifted consumers’ hierarchy of needs. A rise in demand combined with uptick in different ways of thinking and behaving, plus a need for more transparent and empathetic messaging. These brands that are trusted, closer to people’s hearts, honest and exceeding consumer’s expectations will succeed. Brands need to offer closeness, safety, security and entertain during the bad times and procure optimism for a brighter tomorrow.

Now (in this almost post-pandemic new era) – brands are more important than they have ever been. With times rapidly changing, what is required for brands to succeed is changing too. There’s opportunity inherent for branding, brands have the opportunity and the responsibility to show leadership beyond their traditional role. Leadership for the now and the coming future, Relevance to be true and close to the consumers and Engagement o share the journey and perpetuate loyalty.

Today brands have a new set of challenges to contend with. With more and more legitimized social justice movements, society today demands greater equality and representation, inclusiveness and acceptance. Empowerment of communities, corporate sustainability and environmental issues, etc, … Brands are boosters of change and transformation. Brands have the power to make the world a better place to live.

CEOs that understand and firmly believe that brands are the engine of their businesses and answer that call will succeed. It is not only a matter of survival but to do pivoting in leading positions through their approach to their consumers, not only attending but improving their brand experiences especially in turbulent times.