There is a crisis in brand-building.Marketing budgets are under unprecedented pressure. The events of 2020 saw deep cuts to investment in marketing in general, and brand-building in particular. More than ever before, marketers have to achieve more with less.
If we hold that a strong brand is key to the long-term health of businesses, we now face a profound risk - both to our commercial prospects, and to the reputation of marketers as drivers of growth.
As the business world looks toward a post-pandemic world, the marketing discipline needs to rethink the way it talks about brand, and reframe it for a world of digital commerce, algorithms and almighty walled gardens.