Ok maybe not 60, but right now it feels like that. And is that a bad thing? Experts say a successful brand can take up to 5 years to get established within the marketplace. But who has five years? Stats show that only 25% of all new businesses make it in the long term.*And with Covid-19 bringing the global economy to a complete lockdown, most businesses right now need to make money in the next 6 to 10 months in order to survive.
In this ever-changing era of branding, advertising must adapt to a world dominated by skippable TV commercials and online ad-blocking. With the decline of traditional TV viewership, the question arises: who even watches TV now? While Covid-19 temporarily boosted TV viewing, the sustainability of this trend remains uncertain.
In this fast-paced environment, there's no time to leisurely craft brands. Munch like the rapid development of apps addressing immediate needs, brand creation demands swift action. Case in point: my recent work on the app Munch, which addresses high aggregator fees by offering lower commissions to restaurants. In just a few months, we developed the brand story, purpose, UI/UX, and executed a successful programmatic campaign challenging the competition.
So next time you’re about to build a brand in no time, think of it like Tinder. It may be fast, but there is the possibility of a long and meaningful relationship, or at the very least the start of a friendship. All it takes is one swipe or one click. Thank you, next!
*https://www.forbes.com/sites/briannawiest/2020/01/24/small-businesses-that-fail-in-the-first-year-always-have-these-3-things-in-common/#e138abf26c7b
