On Wednesday, September 13th, OLC attended the Enterprise Tech Innovation’s Enterprise Insights: Working with Big Brands featuring the following presenters: Alex Horovitz, Partner and COO of AppOrchard; Art Chang, Founder and CEO of AppOrchard; Shawn Cheng, Digital Strategist at BBDO; Tad Martin, Co-founder and CEO at Collective[i] and Amit Avner, Co-founder and CEO at Taykey. The presenters each answered questions involving big brands in today’s world.
The presentation was moderated by Tara Brannigan, Product Manager of American Express. The first question, “What are the challenges large brands face today?”, led to a meandering discussion of brands and a how they can adapt.
Horovitz marveled at how big brands “have created problems for themselves.” He pointed out the fact that, once a big brand is finally on top, they must then worry about how they will stay there. Younger genertions perceive large brands as un-trustworthy. Brands are unclear as to how they can remedy this.
Martin added that, for each big brand, the answer is different. Solutions depend on the company’s location, culture and importance.
“Who here has heard of the Mary Meeker report?” Chang started off by asking. He recommended everyone download a copy. “ ‘Now is the time for the re-invention of everything.’ ,” said Chang, quoting the report. It will be about how big brands deal with everything becoming faster. How they deal with the shift in industry will be important too. Chang cited how half of the ten most valuable brands today are technology companies vs the industrial companies of decades prior.
The discussion went on to stress the importance of telling your story in a multi-channeled way. The panel suggested appealing to the senior level, as they are the ones who drive the message. Address the fears that they have, and don’t be afraid to try something new. Deal with the “new problem”, as Martin put it. In older generations, the idea was that brands provided you with something not readily available. Now, the idea has shifted, in that, one can create wealth through an idea. The coming years will show just how big brands will handle this and the abundance of new information.