The best brands combine data with human intuition, a leading business strategist told a conclave of marketers on Thursday.
“Data is very important but not everything. You should not solely rely on data and number crunching. Combine science with intuition to build a strong brand identity,” said Martin Roll, a global strategy and transformation expert and an advisor to several global boards and prominent business families.
The frontline staff of a company can be great brand ambassadors if they are trained properly, he contended.
Roll took a marketing masterclass at the Brand Conclave, organised by the CII, in association with The Telegraph, at a New Town auditorium.
The first session of his masterclass focussed on Asian companies — that are often dubbed back-end workhorses, manufacturing consumer goods cheaply for big players in the West but are now realising the benefits of branding and innovation.
An expanding younger population, a rising middle class, the rise of Asian multinationals and the growth in the Chinese and Indian markets will be the key drivers of growth for Asia, said Roll.
“The future is Asia,” he said.
Cultural sensitivity is critical for building brands, Roll said, sharing an Asian example.
In 2018, Italian luxury brand Dolce and Gabbana faced a backlash in China after it released an ad that
showed a Chinese model eating pizza and spaghetti with chopsticks in a clumsy
manner.
Many viewers thought the campaign seemed to condescend Chinese culture. The campaign was viewed as disrespectful, racist and stereotypical, prompting a swift
backlash from Chinese consumers, celebrities and media outlets.
“Global companies will have to balance national identities with their global-ness,” Roll said.
The second session dealt with family firms, which account for the majority of the global business, GDP and employment.
They are a key driver of global business and growth, so their sustained long-term value creation is important for the global economy.
“The long-term success of family firms is not given, and it is not an easy task to succeed across multiple generations,” said Roll, who has been a senior advisor to McKinsey & Company and is also an INSEAD (a leading business school with its central campus in France, along with campuses in Singapore, North America and West Asia) Distinguished Fellow.
In the ever-evolving global economic climate, family firms seeking long-term success must focus on digital transformation, sustainability and effective succession planning, he said.