The article covers broadly few aspects of how technology and culture can make that change across brand growth and what can we look for when we build strategies for meaningful growth for brands.
Every transformation needs to come with key changes in culture and it’s important that one puts human centricity as key to all technology, innovations and strategies.
Before we start analysing the technology models, a quick scan of the trends impacting our consumers is quint essential. Here are few trends that change the way India live now than ever before :
• Cautious consumer & “live-in with COVID lifestyle”- Care +
• Purpose and empathy take centre stage – Good Value + over price
• Technology powering get-set-go moments - Convenience +
• Social Avatars building through metaverse – Connections +
• Emergence of digital currencies – Crypto, NFTs
• Eyeball war for attention across media
• Signs of Safety and cautious consumers – Codes of conduct
Few mantras that will help us guide through marketing to APAC would be based on:
1.1 Purposeful Vs Affordable: Resettling fears and new attractions make it more real for people to choose brand that are more what they “DO” vs SAY”“ Actions vs Words” - Planning with sustainable media solutions like digital shifts and power to reach through virtual marketplaces will be important . Increasingly immunity has become more “the power to change” the way people behave and interact with planet.
Most of the technology brands could see bringing that change in terms during Pandemic living. Shifting more physical world to Virtual marketplaces. More on winning the consumer experience landscape based on accessibility, authenticity.
1.2 Newer Growth KPI’s for business and sustainability:Apart from the brands and marketing KPIs that would chase consumer attention and awareness , need for speed to innovate with changing purchase journeys is crucial and we can see the marketplace optimization techniques gaining more importance. Its about the social impact goals as well as business and profitability KPIs which will gain balance in growth for brands. Organisations with increased social impact KPI and vision would lead to faster change and transform the way they produce, package and promote living
1.3 Balancing the short-term and long-term growth KPI is key to build brands that last beyond campaign cycles. Especially in COVID times and prolonged unpredictable circumstances, its crucial to think of empathy building for long term and enhance a go- to- market model for performance and commerce to gain short and mid-term growth.
1.4Tech-tonic shifts for life - Technology and “Utility-tech” “health-tech” have made Life powerful with the super apps have become the new Swiss knives in the normal and consumers have adaptedto new loyalty patterns among choosing the right apps and staying with them. Our non-linear journeys are completely powered by like fitness apps, Music and meditation apps, entertainment apps at home.
1.5 Living with Value for money - Women in households have become more cautious than ever in terms of value for life and money, they are tuned to uncertainties in life and the classic family structures have changed with men sharing the actual load in terms of cooking, cleaning and making life more equal in true sense. The era of imposed equality helps decision making more easier through “fin-fluencers” helping with value of saving money and wealth management. The great Indian Karta is not just a male of the household but also the females who through technology have earned living for families and have adopted to technology to sell, share and sync with the world during the pandemic. This would continue to grow as a trend and being famous through digital platforms is a new stage to independence and self- reliance for women across age groups.
1.6 Tech and foodie Love – The emergence of food apps like foodpanda in SG , Zomato, Swiggy, freshmenu, eatfitformelyknow as curefit, Fasoos have been catering to tastes and time wars of the Asian households. Chefs and specialities of home cooked traditional food have also become a famous trend which is here to stay. For the cravings to celebrations menu cards have been designed to customise the needs and occasions of Asian households. Hari-Raya specials to IPL specials menu have made mood food more common factor for Life moments and technology to power the connected consumer journeys.
Key take outs for readers
- Consumers and technology will change constantly based on trends that impact mindset and human centric solutions based on purpose will take a centre stage
- Value has a new definition based on convenience, care and comfort or ease of experiencing technology at each stage.
- Marketers need to chase newer metrics of brand growth – balance the social and business impact KPI meaningfully
- Experience and connected consumer journey powered by technology will rule the minds during the purchase journey planning.
