How courage and a clear purpose can build a winning brand

I was privileged to attend the Brand Z Top 30 Most Valuable South African brands 2019 awards recently. Discovery was ranked at number seven with a brand value of $1.6 billion, two places up from last year.

This is a brilliant accolade, not only because of the award, but because it shows how South African brands defied global challenges and remain strong and competitive. As marketers and as we celebrate being South African this Heritage Day, we have to ask why the Top 30 are so resilient.

I reflect on how important it is for businesses to continue investing in building their brands – not in spite of, but especially during tough economic times.

Courage breeds competitivity

Being bold and brave is a trait we foster at Discovery, specifically in a culture that breeds continuous innovation. We constantly look at ways to challenge business models and find diversification in the most unlikely situations. Although the focus is on running the various businesses well, the question we continue to ask ourselves is “Where to next?”.  

Innovation, differentiation, and expanding ecosystems contributed to Discovery’s rise this year – and that of other brands in the Top 30. A number of our partners, Nando’s, Woolworths and others, are also included in the Top 30, which proves our alliances are with strong, courageous brands.

As people who have a vested interested in growing the future of SA, we must constantly question how courageous we are as marketers in this country. We are such a different country by nature, but as marketers, are we being different enough? Are we sanitising our brand messages?

More importantly, are we staying true to our company purpose as we assume the responsibility as custodians of brands in SA?

The BrandZ report showed that the cumulative Brand Value of the top 30 brands in South Africa came in at $37.1 billion, a 13% decline from 2018, which is primarily due to the tough macroeconomic environment. This begs the question of whether familiarity breeds contempt, and if SA brands need to have more courage in order to stand out and stand for a greater purpose.

The report also shows that SA brands are doing well in terms of salience, but need to relook at what makes them different in the market. By being courageous, we can make our brands stand out – growing brand and economic value. By staying true to a purpose, SA brands can build a trusting relationship with consumers and strengthen their position within a consumers’ mind.

This Heritage Day, we celebrate brands born in South Africa, led by South Africans, and trusted by the world.