Re-positioning a brand for a networked economy
More and more brand value is co-created in an ecosystem, as agile, innovative ways of working become the norm in established companies.
A lot of discussion has taken place recently about how digitalization changes business models and processes. As people become comfortable with letting digital solutions into every part of their lives, technology will play a key role in delivering great customer experiences and changing how we develop new digitally-empowered services and products.
So how can companies, the public sector and society as whole manage this transformation with limited resources, while maintaining high efficiency?
A more customer-focused strategy
At the heart of this will be how companies can effectively reposition their brand to meet the changing demands of customers in a more digital era. This is a challenge that's especially important in the technology industry, as we see a shift to a more customer-centric strategy that highlights the customer value, as opposed to technology leadership.
For many companies, ours included, this journey is still in progress. But what will be an even more profound change for companies is to differentiate their brand going forward, focusing on how they interact in a networked economy and finding their role in new ecosystems.
Preparing for the future
At Tieto, we started this journey a few years ago through our own internal start-ups. As part of this, we developed completely new concepts in marketing and communications to stimulate innovation and uncover new ways of working.
For instance, we've run cross-industry hackathons in open engagement and communications between large corporations and emerging start-ups. In marketing, we've moved from creating concepts at back-end to a more collaborative process that sees us working more closely with our peers.
We are happy to see our customers to share the same journey, to be forerunners in building their brand in this new digital ecosystems in order to drive their business renewal. Among these, Elo and UPM are some of those we've seen great success with.
Engaging with companies and consumers
This means that traditional B2B brands are going to need to use more aspirational ways to engage with other companies, and eventually with consumers. While this is something that has traditionally been a privilege of consumer brands. It doesn't mean massive campaigns in the traditional advertising context. Instead, it is more about finding ways to engage with the right individuals in the digital world.
Marketing and communications activities will need to transform as businesses are becoming data-centric. And it is here that ability to effectively use this information to guide decision-making and drive transformation becomes critical.