The Covid-19 pandemic has accelerated digital transformation by about six years, raised economic, social and political issues, and may fundamentally change the world as we know it today.
“The biggest mistake you can make is to accept the norms of your time.”
– Neil Strauss, Seven-Time New York Times Best-Selling Author
This statement couldn’t be more true in 2020. In a recent study we conducted with over 300 SMEs in Singapore, 41% of B2B2C, 40% of B2B and 38% of B2C companies highlighted the need to pivot their brand and business strategies because of Covid-19.
For many, the need to adapt and change is painful. However, there is a silver lining to the crisis. The global pandemic has reset the playing field and created a window of opportunity for ambitious brands to position themselves more strongly and advantageously for our new world.
“A crisis is a terrible thing to waste.”
– Paul M. Romer, NYU Professor in Economics and Co-Recipient of the 2018 Nobel Prize in Economic Sciences
Covid-19 has presented us with unprecedented challenges and hardships, but throughout history, economic recessions and periods of uncertainty have also proven to bring unique opportunities for innovation and defining the next normal.
Brand Positioning: The Time is Now
The concept of Brand Positioning is not new. The 1960s to late 1980s was characterised as the ‘Golden Age of Advertising’. Brand Positioning provided clarity and helped brands cut through noise in a time when audiences were bombarded with ads.
Today, an even greater onslaught of products, services, and information brought about by the internet, coupled with the chaos from Covid-19 makes Brand Positioning even more crucial. A strong brand position not only help brands resonate with prospects but focuses business models and customer experiences toward what differentiates them.
Brands Today Have to Stand for Something
Thus, when we work with clients at our branding agency, we place huge emphasis on positioning before creating brand identities and designing touchpoints.
Previously known as Seng Lee Interiors, surface design company Admira, has successfully repositioned themselves from a local materials trading company to an experiential-relational brand that puts customers at the centre of their brand experience.
This year, we also worked with Nippon Paint to rethink and communicate how paint can contribute positively to our health and mental health in today’s uncertain world. With almost the entire planet spending more time at home now, Nippon Paint’s new concept is a reflection of the changing reality and norm, demonstrating how individuals can lead better lives at home through their choice of paint colour, as well as creation of spaces that cater to their needs.
Brands that continuously sync with changing needs and sharpen their positions will succeed.
Three Major Transformations Accelerated by Covid-19
In our Digital Branding Industry Report, we shared how brands are pivoting around three major transformations that Covid-19 has accelerated:
The fourth Industrial Revolution is marked by the automation of technology, using smart systems fuelled by data and machine learning. Brands are playing catch up with how Industry 4.0 has changed business structures – from digitalisation to tapping on audio branding with the rise of voice recognition technology.
Product to People to Public
As people become more informed with globalisation, community-based issues such as justice and equality become increasingly important. Customers now value what brands stand for beyond products and the individual, and how they contribute and impact the larger community.
The Circular Economy
As consumers are increasingly conscious about the origins and life cycles of the products they purchase, businesses have started looking into the circular economy model as a sustainable economic system to eliminate waste and increase the efficient use of natural resources.
With these major forces in place, on top of a playing field that has recently been reset by Covid-19, now is a great opportunity to position your brand for our brand new world.
Download our full Singapore Branding Industry Report 2020 here.
 According to a global study done by Twilio, a cloud communications platform.