Brand consultancy Interbrand, completed 10 years in India in 2023. Interbrand has done branding work for Jio, Godrej, Britannia, Infosys, Mahindra, Nerolac and Ashok Leyland to name a few. More recently it has added more companies on its list in the new decade – the Swedish origin Truecaller, Hinduja Group’s Switch Mobility, HDFC Bank and Hero MotoCorp’s VIDA.
Through the decade, Interbrand focussed on introducing universal thinking to India including ‘Iconic Moves’ through which it looked to step up the traditional concept of Brand Positioning. Iconic Moves are defined as brand moves that exceed customer expectations and disrupt competition. They are by their very nature, rare and a one-of-a-kind action, which arise from unique conditions that lead to precocious decisions.
They are not self-serving stunts the company said, but means to an end—conceived and designed to accelerate the business’s progression along its desired trajectory, seeking an alignment (or realignment) between customers, the business, and their interactions.
Medianews4u caught up with Ashish Mishra, CEO, Interbrand India & South Asia.
As an agency what goals has Interbrand India set for 2024? What is the gameplan to get there?
Last year we completed 10 great years of amazing growth to emerge as India’s leading Brand Consultancy. Godrej, Jio, Britannia, Infosys, Mahindra, truecaller; Hero’s Future of Mobility Brand – Vida & Hinduja’s future mobility brand – Switch; emerging stars like Welspun and Polycab – arguably the top branding projects of the decade are our showreel. This year onwards we want to demonstrate the next levels of what brands and branding can do to businesses, communities, people and planet. Beyond Identities, we see Brands as Value-driving Assets, Arena Ecosystems, Holistic Experiences and New Acts of Leadership.
We are trying to evolve branding consciously along these lines. Furthermore, we now don’t want to do incremental things. Across each of these evolved roles brands can play, we want to make a statement. 2024 and beyond, we want to make Iconic Moves with our partners.
Could you talk about how the tiger strategy sets you apart from the competition?
We sense best opportunities at vertical and branding role levels. Our IP of Best Global & Indian Brands which are among the most influential rankings in the world and locally, allow us the analytics and insights at the sharpest levels for the same. We are able to pick the most attractive sectors and branding needs which are confirmed by active global client listening as well. While I would abstain from revealing the specifics, a generalisation of our strategic intent can be sensed in our wanting to create the next generation icons in India.
Is India a top three market for you in the Asia Pacific?
We are growing rapidly within the space. We clearly are in the top 5 markets alongside Japan, Korea, China and Singapore.
When you look at the great brands from India like TCS, Reliance Industries, Infosys, HDFC, Jio is a high level of consumer trust something that they have in common?
Wow, pleased to see we are, or have been engaged by 4 of the 5 brands mentioned by you! Reliance, Jio, Infy, and most recently by HDFC. Yes, trust is not only common to the most valuable brands we help build, but also something that the citizens have begun to expect more from such brands in the recent times. Due to the increasing trust deficit with the establishment as concluded by Edelman’s Global Reports of 2022 and 2023; people today are expecting progressive brands to rise and bridge that gap. The highest roles brands can play now is by engaging in these New Acts of Leadership vis-à-vis the world at large.
Is not keeping in step with rapidly evolving cconsumer expectations a huge challenge?
I believe the entire idea of moving in step with consumers is a dated notion. At Interbrand, we believe in being at the dege of today and beginning of tomorrow. To anticipate the future. I firmly believe brands need to be built for where we want to go, not where we are. Which is why we have substituted the rigid status quo of Brand Positioning with the dynamic Brand Trajectories and Iconic Moves that exceed customer expectations and disrupt competitive landscapes.
Is it more challenging to build a great brand in India due to the diversity of the country compared to other markets?
I have built large Indian Brands all my career so this is the only context i know. To me, and in general for all of us as proud Indians, the idea of non-dualism is so ingrained in our philosophical world view that we do not see diversity as a challenge. As a matter fact, a linearisation of the world at any level or genre may make us more uncomfortable.
When you talk about building a great brand in the digital era do you have to throw out some rules that worked in the past?
Digital era is over rated for its uniqueness. The 3 fundamentals of building a brand namely Human Truths, Economics and Experiences remain the same. Yes the connectivity and the resultant conveniences have altered the people interactions, human trust, rate of obsolescence, business opportunities and ways of influencing. Brands need to imbue meaning to technology and bridge the trust gaps. They need to be part of conversations, remain intimately near, lead in doing the right things not just doing things right.
Could you talk about climate change which is is a key area of focus for Interbrand India?
We have already created a powerful agenda and point of view on climate change. We are branding Climate Change in association with UNDP. We believe Climate Change as one of the top 3 issues of the world today needs to engage normal citizens and move out of the preserve of politicians and scientists. In spirit, insights, empathy, demonstration and language.
We are, especially in India, doing a lot more of it for the opportunities we have through our partners in the space, including Hero Vida, Hinduja- Ashok Leyland’s Switch, HMEL and BPCL. As an example, the VIDA brand was conceived as ‘optimism in motion’, and a Changemaker in an activist tone. Changing the world, one ride at a time.
How do you work on brand building in areas that go beyond traditional advertising and marketing?
The biggest challenge for marketing recently has been the multiplicity of touch points and specialists managing each silo, internally and externally. This has created a question on CMO’s relevance. I believe Brand as a platform or an ecosystem orchestrator integrates and resolves this fundamental proliferative issue.
To appeal better to Gen Z what are some of the things that brands need to bear in mind?
Gen Z are characterised by what I call the Matter Paradox. They want to matter to the world but are unable to shrug off the lifestyle choices that matter most to them. So we need to provide wisdom on one hand through brands but also learn from the young. We need to create brands with them and not for them.
When you have m&a activities like the reported upcoming Disney-Star Viacom18 merger what do the parties have to bear in mind to maintain, strengthen brand positioning and avoid any confusion?
As per a global Interbrand White Paper on M&A branding, over 90% of M&As fail to achieve the intended goals. That’s a very high incidence of failure. We have identified key areas of derailment during the strategy, business, customer and culture integration. Disney Star Viacom 18 will need to be watchful of these areas of derailment and deploy their M&A brand strategically.
Are there learnings from COVID that brands should continue to apply?
Responsiveness, optimisation, efficiency, being part of the local conversations, surrogating for meaningfulness and trust that’s gone missing in our lives marked almost permanently now by uncertainty and anxiety, broadening the leverage for the relationships into wider presences beyond the traditional categories. These are a few things that we learnt during pandemic that will remain relevant always.
Finally does A.I. have a big role to play in brand building?
Publicis has dwarfed the erstwhile giants WPP and OMC in market capitalisation in the recent time through their bold moves in the tech/AI spaces. But that is value built on anticipation of the real value yet to be generated stably. Indeed it is something that will be significant and transformative like many discontinuous technologies of the past. Perhaps more than them. Iconic Moves in capability building will pay better dividends compared to the incremental usage that’s prevalent.
