The Inevitable Extinction of Branding | Live From Chicago IL
Live From Social Media Week: Chicago IL
Matt gives a riveting keynote at Social Media Week Chicago about the future of consumer products and brand building "The Inevitable Extinction Of Branding"
Do you ever wonder how branding has evolved over time and how it's adapting to the world of social media? Join Matt for a captivating exploration of branding's history - from JFK's 1962 Consumer Bill of Rights to the rise of television, the "TV industrial complex," and the impact of the internet on consumerism and urbanization. Matt dives into how millennials and their penchant for urban living have reshaped the consumer landscape, leading businesses to chase millennial talent in cities and the rise of "DIFTI" – Did It For The Instagram.
The captivating history of branding, its evolution, and the forces that led to its extinction are discussed in this intriguing keynote talk. The significant role social media has played in shaping the way brands market themselves and the necessity for them to adapt in this ever-changing landscape is examined. This profound conversation delves into the past, present, and future of branding.
Since the dawn of the Internet in the late 90s, major changes shaped the consumer landscape, including the invention of the Internet, the financial collapse of 2008, and the rise of the iPhone and Instagram. These developments drastically altered the way consumers view brands and define their own personal identities. The impact of urbanization on youth culture in branding, the rise of utilitarian brands, and the importance of building a brand with a purpose are also discussed.
The future of brand marketing is explored, including how big brands like P&G and Unilever are embracing new models of selling. The rise of direct selling through companies like Warby Parker and Away is analyzed, as well as the shift of traditional media to performance-based models. The attraction to experiences over material possessions and its impact on the consumer landscape is also discussed.
Matt demonstrates that branding has evolved significantly over the years, and companies must adapt to the changing landscape to ensure success. With the rise of social media and a focus on experiences over material possessions, the future of branding may lie in the ability to create meaningful connections with consumers and provide access to the products and services they desire.
Here are seven key takeaways from the presentation:
1. Branding has evolved over time: The history of branding can be traced back to the early 1960s when television had become mainstream, and marketers saw the opportunity to use TV ads to reach consumers. However, with the rise of social media, the way brands market themselves has changed drastically, forcing them to adapt.
2. Major changes that shaped the consumer landscape: In the past 23 years, the invention of the Internet, the financial collapse of 2008, the introduction of the iPhone, and the rise of Instagram have significantly impacted how consumers view brands and define their personal identities.
3. Urbanization and youth culture in branding: Millennials staying in cities have shifted the consumer landscape. This shift has changed how people grow up and how they perceive brands. The concept of 'Difty' (Did It For The Instagram) highlights the current trend of pursuing experiences to build personal brands.
4. The rise of utilitarian brands: People are more attracted to experiences over material possessions. Companies like Tough Mudder and SoulCycle have become global phenomenons, highlighting the importance of providing unique experiences to consumers.
5. The future of brand marketing: Big brands like P&G and Unilever are embracing new models of selling, such as Amazon’s Dash button and direct selling through companies like Warby Parker and Away. Traditional media is also shifting to performance-based models.
6. Building a brand with purpose: Companies like Brandless are forgoing traditional brand-building infrastructure and instead selling quality products at a low price. This demonstrates the importance of building a brand that has a clear purpose and meets consumer needs.
7. Performance advertising for brand building: Leveraging customer insights and building brands on top of platforms can open up new opportunities. Companies like P&G and Unilever are utilizing methods like Amazon's Dash button, emphasizing the importance of embracing new models of selling and marketing.
