This sounds like the title of a science ction book, but frightening and surprising as it may seem, we have only three more years before we enter the third decade of the 21st century. For our clients and agencies, this third decade will present a myriad of challenges to continue building valuable and relevant brands.
CEO, Wunderman Phantasia Paul.Thorndike@wunderman.com
Paul is a graduate of Business Management from the Universidad del Pacífico, Lima, Peru.
Under his leadership, Wunderman Phantasia, working for companies such as Backus SABMiller, Movistar, Nestle, and BCP,
has been often recognized as the most important digital agency in Peru.
In addition, he is on the Board of Directors of several companies and start-ups.
The world is experiencing radical changes in the building of brands because of shared economies, digitization, and the impact of the new technologies in the business environments. Consequently, there are more empowered people and a constant search for individualization, but also a shared fight for creating fairer and equitable societies. In addition, we demand brands to be more crystal-clear and responsible, as part of the changes shaping this new reality.
Peru values brands that have always been there for consumers, despite the social, economic or political conditions in any given moment. This is why it is not surprising to see how international Brands find it more difficult to compete and gain ground in comparison to other markets.
However, Peru is not unresponsive to this new reality, and there is a growing phenomenon that today places Peru as the seventh of 25 countries with the greatest growth projection for the penetration of smartphones up to 2020*. This heralds a change in the landscape for brand building, since formerly advertising relationships depended exclusively on the traditional mass media, such as TV, but the reality is that today the mobile phone is the main screen and medium through which to connect people with brands.
This leads people to discover and create a connection with new brands that have become hyper relevant in a really short time. How can the brands that have always been relevant to Peruvians continue to be so?
ADAPTING TO A NEW ORDER
We need to start viewing the digital mobile as a space for strategic brand building, not only as a support or a space where we need to be because others are there.
If brands wish to continue building this relationship in the long term, and add value,
it is important to understand the human dynamics associated with the use and consumption occasions of our target audience.
The traditional model of message interruption and repetition does not work in the same way that it did 10 years ago. Today technology allows us, through different platforms such as Google, Facebook, or other external tools, to understand consumers in depth and learn what they do, when they do it, and in what moment a brand’s message and product are relevant to them.
To the extent that these brands understand the processes of information consumption, they will have to adapt to them with relevant messages within adequate time, and provide brand experiences that people value.
This new digital technological environment demands a change in vision for the short term, so as to achieve strategic brand building in the long term. This will mean more precise metrics, fed with sources of information almost in real time, where brands have greater control of investment and messages and are able to adapt rapidly to circumstances.
This does not have to be at the cost of losing relevance or neglecting strategic brand building. But it will mean in Peru, in 2020, these brands will be equally valued, but by then it will be because of their deep understanding of the population’s social and cultural dynamics.