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Branding in Banking & Finance | P Collings 2011


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This is the presentation I gave at the Branding in Banking and Finance Conference that was held in Johannesburg, South Africa on 26th - 28th September 2011. I have added speaker notes on some of the slides.

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Branding in Banking & Finance | P Collings 2011

  1. 1. VUCA branding in the age ofPatrick CollingsSagaciteBranding in Banking & Finance Conference 201126 - 27 September 2011 by mark visosky
  2. 2. an argument for a new mindset and toolset forbranding in socio-economic environments thatare volatile, uncertain, complex and ambiguous
  3. 3. the argument rests on two key pillars
  4. 4. a traditional view of marketing Speaker Note: This slide referred to the fact that marketing was often bolted onto strategy developed elsewhere in the corporation. photo by Mike Bitzenhofer
  5. 5. brandsmarketing
  6. 6. “...many enlightened organizations are moving branding entirely away from communicationsand toward connecting strategy, culture, and a wider stakeholder involvement.” Nicholas Ind & Majken Schultz Strategy + Business
  7. 7. brand strategy equalsbusiness strategy
  8. 8. a turbulent socio-economic &business environment Speaker Note: The second pillar of the argument refers to the market conditions that brands have to compete in. photo by tenisca
  9. 9. the world is facing increased turbulence over the next decade and beyond Global Trends 2025: A Transformed World released by the National Intelligence Council
  10. 10. caused by leadership change inemerging markets, major policy shifts bygovernments, increased armed conflict,interlinked economies, budget cuts bylocal and national government
  11. 11. welcometo the ageof VUCA photo by Beacon Radio
  12. 12. volatility, uncertainity, complexity and ambiguity are also keeping executives awake at night image by Herr Kaczmarek
  13. 13. relentless innovation
  14. 14. demand for results
  15. 15. in endless conversations
  16. 16. history is no guarantee of tomorrow
  17. 17. the recessionary climate remainsSpeaker Note: This slide and the next three slides refer to challenges facing the banking and nancialindustry. by alex e proimos
  18. 18. banking theunbanked Photo by Ronn Aldaman
  20. 20. the brand management toolbox is limited photo by Robert S Donovan
  21. 21. marketing mindset and marketing-focused toolsrationalistic management tools developeddecades agomethodologies and tools that rely on historicand static datatools that are cookie cutter in nature
  22. 22. is needed photo by SomeDriftwood
  23. 23. starting with a new mindset by maessive
  24. 24. one that accepts that we can’t predict the future and should concentrate on beingflexible enough to successfully engage it, in whatever form it may take
  25. 25. “Giving up the illusion that you can predict the future is a very liberating moment. Allyou can do is to give yourself the capacity to respond to the only certainty in life - which is uncertainty. The creation of that capability is the purpose of strategy” Lord John Browne, former CEO BP
  26. 26. “Nearly all of the Best Global Brands have embraced the idea of constant change, evolution and innovation, and are able tocontinually meet the changing requirements of their customers.” Interbrand Best Global Brand 2010
  27. 27. and the tools to go with the mindset
  28. 28. flexible thinking applied flexibility
  29. 29. near future budgeting disposable factoriesscenario planning customizable complexity dynamic pricing shadow portfoliosSpeaker Note: The list of strategy tools listed in the right column is not comprehensive. At Sagacite werefer to these tools by the collective name of rapid adaptive strategies.
  30. 30. scenarios photo by drew herron
  31. 31. the aim of scenariosis to reveal multiple,equally realistic and foreseeable futures photo by drew herron
  32. 32. approaches Royal Dutch/Shell & Global Business Network The French School The Futures Group Wilson and Ralston Lindgren and Bandhold Reference scenarios Decision Strategies International Procedural scenarios Industry scenarios Soft creative scenarios
  33. 33. help connects the dots picture by gato-gato-gato
  34. 34. relaxation of monetary banking policy keeping regulations interest rates low consumer’s limited financial instruments knowledge that shifted risk off balance sheets evaporation 2008 of reasonable credit Financial standards Meltdown
  35. 35. scenarios allow us to seebeyond the headlights photo by victor cavazzoni
  36. 36. uncertainty forecast scenarios hopenow distance into the future
  37. 37. and avoid panic when the future deals us a bad handimage by luna di rimmel
  38. 38. rapid adaptive strategy
  39. 39. near future budgeting Speaker Note: Near future budgeting refers to the trend to shorten the budgeting period given that people can’t predict three to ve years out. by kenteegardin
  40. 40. Disposable FactoriesSpeaker Note: Disposable factories belongs to the real option group of rapid adaptive strategies. Itrefers to limited investment in production facilities until a product proves itself in the market. photo by slinky2000
  41. 41. customizable complexitySpeaker Note: This slide refers to companies allowing consumers to determine their individual brandoffering. image by Pixel Placebo
  42. 42. Dynamic PricingSpeaker Note: An example of dynamic pricing is insurance companies who calculate motor insurancebased on how a customer drives their car as recorded by an onboard device. photo by Greg Woodhouse
  43. 43. portfolioBrand Speaker Note: The same way opposition parties have a shadow cabinet so they are ready to govern, brands should have a shadow portfolio of different offerings for drastically different market conditions.
  44. 44. “We have made tremendous progress in our ability to operate complicated systems... We have made less progress to operate complexsystems, which defy conventional modelling and challenge traditional management practices. Leaders need to use better tools for understanding how these system will behave - tools that can help us understand the constant interaction of numerous elements and the impact of rare but extreme events.” Gökçe Sargut & Rita Gunther McGrath Learning to Live with Complexity Harvard Business Review September 2011
  45. 45. not just about survivalbut also opportunities
  46. 46. “In the next few years, successful companies will distinguish themselves by managinguncertainity better than do their competitors.The very best will create uncertainity for their competitors to struggle with - and there will be hell to pay by those who fall behind.” George Stalk Senior Partner and Managing Director The Boston Consulting Group
  47. 47. Speaker Note: Apple is a company that adds to the VUCA environment of their competitors byreleasing innovative products and services that immediately rede ne the market.
  48. 48. Ordnung braucht nurder dumme ein geniebeherrscht das chaos
  49. 49. Order is needed onlyby fools, the genius controls the chaos