Brands will play a leading role in re-starting the pulse of economies across the world. Brands convey the source, quality, and authenticity of products - an article by Joel E. Netty, World President & Chairman, International Advertising Association.
It is an undeniable fact that the COVID-19 pandemic has fundamentally altered our world and how we – as humans – interact with our environment. Its impact has been massive and governments across the world have been encumbered with a multi-faceted problem.
Not only have they had to bear the responsibility of finding innovative ways to protect their people but they are also having to find ways to either build resilience to withstand the impact of the COVID-19 pandemic on their economies or finding ways to kick-start economies that have been severely hit by the impact of the pandemic.
Fact is, brands will play a leading role in re-starting the pulse of economies across the world. Brands convey the source, quality, and authenticity of products.
Brands represent creativity, innovation, and optimism. Strong brands restore consumer confidence and brand competition can rebuild economic strength. In fact, research shows – such as the analysis presented by Brand Finance in this report – that the importance of brands actually increases during times of crisis.
This is why the IAA is launching a global campaign, 'Why Brands Matter', to promote the role brands can play in driving economic revival.
Our campaign visuals show the benefits brands bring to consumers - choice, trust, identity, pride, and passion, amongst many others. At the same time, they highlight what will be lost to all of us if we lived in a world without brands. It would be a poorer world with less choice, less clarity, and less trust.
These are reasons why brands matter … and why at the IAA, we love brands!
These indeed are tough times for countries, people, and brands. But one thing is for certain: “This too, shall pass!”
As is becoming my custom, let me end this with an African proverb that puts our roles in perspective. It says: “where you will sit when you are old, shows where you stood in your youth”.
In other words, the actions all of us – governments, citizens, brands, and marketeers – will determine where we will be in the future. It is the brands that show up during times of crises that will be remembered when the dust of this pandemic and every other crisis settle.
Let me also use this opportunity, on behalf of the International Advertising Association, to call on governments and all brands around the world to work together to create an environment that gives consumers the confidence to invest in brands that matter to them; an environment where brands are protected and nurtured and allowed to fulfill their full potential.