Ivan Moroke, the CEO, South Africa Kantar, has said that as businesses continue to navigate the complex landscape of marketing, amid fierce competition for consumer’s attention, that brands must focus less on bottom-line.
He added that rather such brands must strive hard to ignite and evoke actions that will translate to positive change in the life of consumers.
Moroke further observed that people don’t live in the brand’s world, but brands live in people’s lives, and so brands must strategically realign their actions towards consumers’ well-being for a more meaningful relationship.
Moroke stated this in an interview, noting that brands exist because of people and then stressed the need to humanize brands by evoking emotions that revolves around empathy.
He further explained that in today’s dynamic world, brands must lead by establishing a clear call to action with an affirmation that championing social causes is no longer an option or a one-of but a necessity.
“Sustainability is one of them, it has shifted from being a nice to have to just being the best, which means it has a direct impact on the bottom line. Another big one is value, I don’t have to tell you about the kind of economic challenges that are happening in this country and across the continent and across the world, I still cannot fathom the 28% inflation rates that people are talking about. So if you know that is the pain that people are going through, your response as a marketer is, how do you maintain that equity of your brands, but at the same time, make people be able to afford it.”
Defining what a people’s brand should stand for while explaining some of the underlying factors that distinctively position a brand as one, the experienced marketer revealed that it goes beyond competition but with emphasis on empathy for consumers.
Moroke affirmed that today’s consumers live in a world of constant flux with new trends emerging daily, and so brands must be rooted in its essence with the mindset to imbue greater purpose into all its actions.
“It is not about the benefits whether it’s emotional or functional benefits or fighting with your competitors, but what makes that different to say you are the people’s brand is the empathy that’s the part of it, especially considering the kind of the world that is in a flux, there is so much pressure on people locally on the continent and globally. This has helped to amplify conversation on mental well-being and brands must be part of this global conversation.”
The Kantar CEO validated the reality that today’s marketers are being forced to evolve and adapt while working under severe pressure rising from diverse organizational challenges which include dwindling sales figures, fierce market competition amongst others, but amidst these, they must thrive to keep their heads above water to ensure they deliver genuine value to customers.
“It is also a global issue, the pressure that you are getting from the business about proving your ROI as a marketer, as well as to deliver. How you balance cost and investment is if you can show that in the bottom line, but how would you do that for both the short and the long term? I think that will be the single biggest issue that marketers face,” he added.
