Re-defining your brand for the future
In 2020 more than ¾ of the S&P 500 will be made up of companies we haven’t yet heard of, according to Professor Richard Foster of Yale University. It’s a statement that highlights the speed of transformation to markets, and for companies currently on this list it’s pretty alarming.
We’ve already seen seismic industry sector transformation from the likes of Airbnb, Spotify and Uber. These companies are all starting to approach the 10 year milestone, having inspired a legacy of entrepreneurs on the way.
For existing companies it’s time to disrupt or be disrupted. Over the past two years, Under Armour has spent close to $1 billion buying and investing in health-tracking mobile apps. By doing so, the company has amassed the world’s largest digital health and fitness community, with 150 million users. The data they gather will inform everything from the development of new products to the analysis of global data. “Connected Fitness becomes a force multiplier that takes us from a shirts-and-shoes company to a true technology company,” says Kevin Plank, Under Armour CEO.
More brands need to join the revolution. Burberry has announced that starting September 2016 it will replace its current four runway shows with just two. They’re calling the new format ‘seasonless, immediate, and personal.’
“Our shows have been evolving to close this gap for some time,” said Christopher Bailey, Burberry CCO and CEO.
“From livestreams, to ordering straight from the runway to live social media campaigns, this is the latest step in a creative process that will continue to evolve.”
What do all of these brands have in common? They have had the confidence to forge their own path, adapting business models that morph in response to consumer behaviour.
Read on for examples…
In April, Atom Bank launched their app-only savings account for iPhone. The UK’s first bank designed for digital and optimised for mobile, Atom Bank is attempting to redefine a sector with huge trust issues.
Customers can log-in easily using voice or face recognition. The bank gives savers a peek into the future by predicting how much interest they’ll earn in months to come. Communication and transparency is at the forefront of their proposition, and they’ll give customers a little nudge when they need to do something with their account.
Co-founder Anthony Thomas, who also founded Metro Bank, aims to make Atom the world’s first telepathic bank, using data to understand customers and fully anticipate their needs.
New customers will receive their own unique Atom logo, making the app truly personal, and the UI is designed to make banking simple and transparent.
Agency: TH_NK, London
Audi City is the showroom of the future. Using ground-breaking technology and state-of-the-art media facilities, visitors can experience the entire Audi model range, right in the centre of a busy city. This includes several hundred million possible configurations, including all colours, equipment/trim options and functions, all within a limited space. Customers can use smart screens to design their dream car, which is then rendered and projected 1:1 on digital screens in the store. Initially launched in Beijing, stores can now be found in Berlin and London.
Agency: SapientRazorfish, London
Universal Music needed to become more relevant to unsigned artists in a digital age, and make sure they didn’t miss out on the most promising talent. Spinnup is a platform for unsigned artists that enables them to publish music on Spotify, iTunes and other online platforms. Dedicated scouts from Universal Music support, promote and sign the best talent. Spinnup currently operates in Sweden, UK and Germany. Last year, Model Aeroplanes were the first UK band to sign to Island Records through Spinnup.
Agency: Oakwood, Stockholm
PayPal looked to stake a claim as the new kids on the old money block with its first Super Bowl ad. This ad is cut together like a music video, to the sound track of Demi Lovato’s hit Confident. “This is more than just a commercial for us,” said PayPal marketing chief Greg Fisher. “It’s a moment to reintroduce ourselves to the world.” The spot was supported by PR activity where travel vlogger Steve Booker was set the challenge of travelling pole to pole to demonstrate that PayPal is the fastest, safest way to pay for all kinds of products and services worldwide.
Agency: Crispin Porter + Bogusky, London & Edelman, London
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