The Kantar BrandZ world’s most valuable brands report is out, and it’s sobering. The world’s top 100 most valuable global brands lost 20% of their value in 2023, and across the 13 vertical categories tracked, every one experienced a decline.
Ask a Chief Marketing Officer about the challenges they confront in their organizations and the relationship with the CFO is frequently near the top of the list. The same conversation with the Chief Financial Officer usually includes frustration with marketing. Such tension is normal, and if managed well (hello, CEO) can by healthy and productive for the organization.
Here is a marketing truth: it does not matter if there is a recession or inflation: the best value wins. Value is a virtue. But, brand-businesses do not just wake up one day and have value. Brand-businesses must develop and implement a brand-business value strategy. Value is everything.
There are moments when world events overtake brands. Moments when the macro forces in a scenarios workshop or the market risks that are bullet-pointed in a strategic plan become all too real. Moments that bring brands to a halt. Three such moments are imprinted on all of us: 9/11. 2008. 2020.
Effective communication is crucial for every organization and every leader. My experience is that great communication is often a proxy for general excellence and strong leadership. My experience as both a consumer and marketer during a string of recent brand crises prompted me to think about best practices for communication that leaders and companies should always strive to uphold.
