Opinion: The truth about brands

With burgeoning consumersim that has engulfed India, it is an invitation for brands to turn the spotlight towards themselves and deliberate over the responsibilities of the world in transition.

 

Recognising the transformative impact brands have in our lives and the meaning systems that we share with them; it is imperative for brands to start behaving as vehicles of behaviour change than tools for top line growth. 

 

At Interbrand, we strongly believe that the business of business is no longer just business. Brands are increasingly defined by the way they behave at macro level and judged by their take on societal issues especially in times of crisis, growing distrust, and instant replacement of brands. This aspect of brand leadership is heightened only when a strong practice of ethics is integrated within the brand ecosystem. 

 

When we apply the lens of 'human truth' which is a confluence of universality and our inherent need do/be better, it marks a significant shift in the illustrious brand lexicon. Now, brands are not only seen as product delivering entities but systems of a cohesive narrative that become the connecting tissue. We have now, seamlessly begun to trust brands in their cross dynamism than just their performance in their categories. Let’s take an example of the global star- Patagonia Provisions, the food and beverage arm of outdoor outfitter Patagonia, recently acquired snack brand Moonshot for an undisclosed sum. Moonshot makes crackers using regenerative agriculture practices and shorter supply chains with the goal of giving its products a lower carbon footprint. Moonshot’s supplier ecosystem, which is built around the concept of lower emissions from transportation and more traceable ingredients, adds equity to Patagonia’s relevancy and authenticity. The brand reflects its persistent and earnest efforts to be true to their purpose and promise for the consumers and the world at large. 

 

We all are cognizant of the change in post-pandemic behaviours. Our lives have changed and so have our choices. People seek out authentic brands that have a strong narrative and stand by issues of immense impact. Whether it is organisations hiring Ethicists, Purpose Officers or conglomerates firmly fixing their gaze on what the next generation needs, it boils down to brand intention, the meaning we give them and demand from them in order to thrive.

 

A recent global report (Thrive Arena) addresses an elemental paradox on how we want to lead our lives. Our need to thrive and yet the inability to do so in spite the intention. People are more distressed than ever before as negative news surges to a new high. And while it’s not (yet) a brand’s job to fix the world’s problems—it is the job of a brand to stay relevant, even as expectations shift. In this ‘relationship economy’ where brands are trying multiple channels to connect with consumers, with our lives, emotions and growing needs, the most synergistic connections will win, thrive, and evolve with time. 

 

So as a brand creator and a consumer, I believe the fundamental question to ask is - how can brands become allies for human enrichment (in any aspect) and not just become shallow doctored entities of capitalism?

 

(The author is strategy director and head of human truths at Interbrand India.)