How can you future-proof your brand strategy in a changing market?

To future-proof your brand in a changing market, you should focus on staying close to your customers, keeping an eye on what's new and popular, and being ready to adjust your plans when needed. It's like being flexible and always ready to try new things. Make sure your brand values and mission stay the same but be open to changing how you do things to keep up with the times. Also, use technology and work with others when it makes sense. By staying agile and aware of what's happening, your brand can keep growing and stay strong, even as the market changes.

We sometimes see school children wearing uniforms a few sizes too large- the thinking of course is fair and from the economic lens: kids grow quickly, and what fits today, will not, tomorrow, so let's buy a uniform that will fit tomorrow. The thinking by brands can't quite go that way. The strategy has to fit TODAY. For if it doesn't fit today, there won't be any tomorrow for the brand. That said, the future must be anticipated. Scenarios must be built out. Market forces predicted. Headwinds, tailwinds. Stillness. Sound brand strategy bakes in a view of the world in which the brand and customer relationship must survive, grow, thrive. And aim to fit, both today and tomorrow.

Branding is war! Brand purpose is the overarching reason why you enter the war. Vision is the desired future state. What will you achieve in the war? The mission is how every battle would add up to your dominance in the war. A soldier is driven to great deeds of courage by a great mission. Acts that protect his comrades and the nation's future. Organizational soldiers are both internal and external stakeholders. Evaluating their requirements, expectations, and beliefs is required for a similar loyalty to comrades and nation as that of a soldier, so that they can relate with what the brand stands for. So, while branding may not be a physical war, having a clear purpose, vision, and objective is critical for success.

I had a conversation with my once line-manager and he said that “relationship is the new oil” Aizehi Itua. I totally agree with this because irrespective of how much we put into consideration, be it your vision or mission or even your positioning statement, my own truth that I have discovered is that businesses have lifespans while relationships, depending on how you approach it could be eternal. This is very relevant in the changing world because businesses come and go just like humans assumes a position and later move onto something else so meaningful relationships can also help in edifying strategies for future proofing businesses.

What's the simplest form of what you do, who you do it for, and why you do what you do? This is your brand purpose. The offerings, packages, and products might change and evolve given the industry you are in and the marketplace, but your purpose doesn't need to. It's the base model of whatever your favorite car is; you can do value adds all over the place, but the *thing* that makes it what it is, doesn't change. Knowing your purpose comes down to knowing your innate strengths, passions, and sense of mission. Ask yourself these 3 questions: What kind of impact do I want to have? Who do I love to work with? Why do I love what I do?

Adapt your brand's visual and verbal identity to resonate with local cultures, languages, and traditions. Use the 4C's - Culture, Communication, Consistency, and Community - to guide your localization efforts. When you are developing or growing in a niche that doesn't have any local companies to benchmark your brand against, look for neighbouring countries or brands that carry a similar model to yours. This might just make you a brand that sets the tone and trends in your local business environment.

Regularly monitor and analyze the market landscape, including emerging trends, technological advancements, competitor activities, and customer preferences. Understand the forces that are shaping your industry and identify potential opportunities and threats

A brand’s relevance is only as solid as its understanding of itself, and its micro and macro environment. An understanding of its competitive landscape and consumer intelligence through hindsight, insight, foresight and oversight functions will keep it grounded and ready for possible changes.

An openness to changes is imperative for staying future-proof. It's not just about adapting; it's about embracing transformation while staying deeply connected to consumers. For instance, Netflix swiftly shifted from a DVD rental service to a global streaming giant, aligning with evolving consumer preferences. This agility, coupled with a commitment to consumer closeness, ensures not just survival but leadership in an ever-changing market. Remaining attuned to consumers, category trends, and technological shifts while embracing radical changes establishes a resilient foundation for sustained growth, relevance, and a lasting connection with the evolving needs of the audience.

Scenario planning and megatrends are two things any medium to large company should look into as part of this analysis. The main issue with changing environments is not having the structures and processes ready to deal with them. Change is inevitable.

When defining your brand differentiation, think beyond just your products and services. Your brand can differentiate itself by how it makes your customers feel, the narratives it weaves, and the lifestyle it represents. For example, think about how Harley-Davidson differentiates itself. It's not just about motorcycles; it's about freedom, rebellion, and a sense of belonging to a unique community. They've successfully tapped into the emotional and aspirational aspects of their brand, creating a strong and lasting connection with their customers. So, don't limit your differentiation to features and benefits.

While the alignment of your distinction is somewhere in between your offering, your competitors offering and your consumer’s need, tools like Brand Asset Valuation will let you know if you are becoming an eroding brand. This is because USP can change as competitors may catch up with your distinction today and leverage your communication as a frame of reference to show why you are not special and that they are better than you.

This uniqueness stems from a combination of factors. Firstly, it's rooted in your brand's purpose – the "why" behind what you do. This purpose should resonate with your customers on a deep level, addressing their needs or desires. Your core competencies, or the strengths that your brand possesses, also play a pivotal role in differentiation. They reflect what you excel at, offering something valuable that others might not.

Defining brand differentiation begins with a strategic approach to understand "where to play and how to win": who are the competitors? What value is being delivered by them at which price point? What are the category conventions? What are the trends that are shaping consumers' expectations? What's the job-to-be-done by them? The underlying word for differentiation is "value". Brands deliver value, otherwise they'd be a commodity. Differentiation is always a proxy of value - be it functional, emotional or self-expressive, to name a few. Assess the forces impacting your sector, understand what makes your consumers tick and then align your brand to deliver value to improve their lives.

Articulate what makes your brand unique and valuable in the marketplace. Identify your competitive advantages and the distinctive qualities that set you apart from your rivals. Highlight your brand's differentiators to attract and retain customers

Use customer segmentation to inform product development, marketing campaigns, and customer service strategies, ensuring that each segment receives the personalized attention and offerings they deserve. By embracing customer segmentation, you can move beyond generic marketing messages and create targeted campaigns that resonate with each segment, leading to increased customer engagement, satisfaction, and loyalty. customer segmentation is an ongoing process that requires continuous refinement and adaptation to ensure your brand strategy remains relevant and effective in a rapidly changing marketplace.

In a time when marketing is relationship based, connection is paramount and this can be done through hyper-personalization. Segmentation helps you create some level of personalized experience for your customers. Having identified similar groups and communicating your offering in a way that better connects with their unique needs or passions.

You should test and learn, as you work on your brand strategy and be prepared to experiment with different approaches for each segment. A/B testing can help you fine-tune your strategies to determine what resonates best with each group. This data-driven approach ensures that your efforts are effective.

Brand strategy is the overview of the whole brand. Be careful about segmenting and then trying to make the brand different for each segment. Consistency in visual cues, tag-lines etc is very important and you will get distracted from this if you segment. Use the segmentation for tactical work to promote key products or services, but then use the brand to support this.

Divide your target audience into distinct groups based on shared characteristics, needs, or behaviors. Develop tailored marketing strategies and messaging that resonate with each customer segment, ensuring that your offerings are relevant and appealing to their specific preferences.

Brands are not built for stakeholders, they are built with them. This way, it is easier to have them rally around you and champion your a co-created brand.

Consider your stakeholders, especially employees and partners, as co-creators of your brand strategy. They are not just passive participants but active contributors to the brand's identity and success. Involving them in the decision-making process can lead to innovative ideas and a deeper commitment to the brand's mission.

The best way to future-proof your brand in a changing market is to constantly stay connected to your consumers and keep your ears planted to the ground for a timely update on what's next on technology. Constantly feeling the pulse of the consumers will help meet their needs before they seek a solution and staying tech-agile ensures you provide 'beyond-expected' value to your users and help them stay ahead of the curve. Brand strategy starts and ends with understanding consumer needs and providing effective efficient solutions.

Actively involve your employees, customers, partners, and investors in your brand's journey. Gather their feedback, incorporate their insights, and empower them to act as brand ambassadors. Strong stakeholder relationships will contribute to your brand's resilience and growth

Brand strategy is not a list of abstract suggestions, it directly affects your moves as a company. It influences your business operations massively. Let's say you just got a new brand strategy. Chances are you need to do a lot of things differently. Maybe your messaging changed, or maybe there was a tweak in your target audience or even value proposition. These changes, if implemented effectively, should immediately affect your sales. Either for better or worse. Different messaging can't remain unnoticed in your KPIs, as well as different target audiences.

Measuring is retrospective. It helps to identify weaknesses in dealing with change. Find them and eliminate them. It can also help to track and monitor public opinion on the web through social listening tools to get a fairly unbiased look from outside in without a huge budget market study.

Establish clear metrics to track your brand's performance and measure the effectiveness of your strategies. Monitor key indicators such as brand awareness, customer satisfaction, market share, and financial metrics. Use data-driven insights to inform your decision-making and optimize your brand strategy

With the rise of blockchain technology and web3, the type of data we can collect and measure is evolving. While there are additional challenges that come with these new data sources, there are also unique opportunities to gain deeper customer insights, especially in the loyalty space.

Strangely enough, future-proofing at this pace of changes means sticking to your guns and being brave enough to keep your focus. So many companies jump from point A to point B as soon as new things pop up. AI? Let's become an AI company. NFT? Well, why don't we create an NFT gallery? Blockchain? On the rocks, please. If I were to change the company course with every bump on the market, I'd ask myself whether I have a brand strategy at all... Or just a list of desirable assets and characteristics.

Don't underestimate the power of Employer branding. Invest in local talent and make your brand an attractive employer. Having those applications rolling in will help you find the hidden treasures in your locality and in effect, you will be the very brand that nurtures and grows talent that global players will become curious about. Anything is possible. This is a strategy for future proofing your company: You need to water and grow what exists around you as it affects: 1. The economy 2. Buying power 3. Education and community upliftment 4. Job creation in saturated markets 5. Retaining the best talent

Don't overcomplicate things. Your first instincts are right 99% of the time. Don't write your brand strategy down. Make it so authentic, intuitive and clear that it is such an immediate and logical manifestation of your brand essence that people instinctively understand you.

Always check if your strategy is in line with universal truth and psychology, as the market is always made up of human beings. Time goes by and things can change, but we do not find human beings transformed into a different kind of beast. We always look for love, respect, warmth, certain kinds of emotions, companions... for example. Respect for what people always want makes your brand strategy much more future-proof.

Foster a culture of innovation and be open to trying new things. Experiment with different marketing channels, product offerings, and communication strategies to stay ahead of the curve and adapt to changing customer preferences The ability to pivot and adapt to changing market conditions is crucial for long-term success. Be prepared to adjust your strategy based on emerging trends, customer feedback, and competitive dynamics Building a strong brand reputation takes time and effort. Invest in initiatives that enhance your brand's credibility, such as social responsibility programs, customer satisfaction initiatives, and community outreach