Contemporary branding revolves around acts of thought leadership: Ashish Mishra

At the Interbrand's Best Indian Brands 2023 summit, Ashish Mishra, CEO, Interbrand India and South Asia, discussed the transformation of branding and the increasing importance of adopting a thought leadership approach.

 

Mishra started his session by sharing that marketers remain eternally optimistic in the ever-evolving landscape of branding.

 

He expressed, “In a world characterised by volatility, uncertainty, complexity, and ambiguity (VUCA), marketers chose hope as their guiding force to stay on course by adapting and evolving.”

 

With people expecting more from businesses and brands, Mishra highlighted that societal leadership has become a core function of successful businesses, as revealed in Edelman's Trust Report 2022.

 

“To meet these social responsibility expectations, brands must humanise their messaging and establish meaningful connections with their audiences,” remarked Mishra.

 

He went on to point out that the days when branding merely involved designing logos are bygone. He explained, “Contemporary branding revolves around acts of thought leadership, with brands consciously developing strategies that align with this philosophy. The industry is witnessing the emergence of green shoots — instances where brands exhibit strong leadership qualities and actively shape their brand narratives.”

 

Mishra also noted the changing landscape of branding practices. “As we enter a brand new world of marketing, the radical ideology is becoming the new currency of identity. With the majority of people spending significant time on social media platforms, authentic identities are often overshadowed by the anonymity of screens, leading to the proliferation of radical views,” he highlighted.

 

Mishra also called upon brands to embrace societal issues and take a stand. He shared, “Weak-hearted brands tend to miss out on opportunities to connect with their audiences and lead compelling brand narratives. Currently, trust, distinctiveness and empathy are the core factors that are driving businesses.”

 

Highlighting the importance of activist brands, Mishra shared the examples of Ariel’s #ShareTheLoad and Nike’s ‘Dream Crazy’ campaign, among others to highlight how brands can actively participate in hard-hitting narratives.

“By taking up issues that matter to people and delivering authentic messaging that resonates with audiences, brands can align themselves with their core values and contribute to both business growth as well as societal change,” said Mishra.

 

In conclusion, Mishra emphasised the need for brands to find issues that align with their values and adopt a radical approach towards addressing them.

 

“By unlocking business values rooted in meaningful values and systems at the core, brands can drive growth and become thought leaders in their respective industries," he surmised.