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<ul><li><keyword id="6698170" type="UNKNOWN" weightage="20" keywordseo="Brand-Building">Brand building</keyword> today is about ‘World of Webs’ and not ‘World of Walls,’ says <keyword id="4629265" type="PERSON" weightage="20" keywordseo="erich-joachimsthaler">Erich Joachimsthaler</keyword>, Strategy, innovation and branding expert at Star FLOW Fest. </li><li>It is more about understanding consumers, getting them to interact, and participate than just meeting a demand. </li><li>To succeed in this era, Joachimsthaler shares four principles that can be used to create a sustainable growth for the brands. </li></ul><div type="Video" msid="74329118" hostid="261" title="Four principles that can help build stronger brands: Erich Joachimsthaler, Vivaldi" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=74329118"></div>

<br />Brand building is no longer about creating Awareness, Interest, Desire and Action. It departed from the traditional AIDA model long back after the advent of digital media. However, marketers haven’t quite reached there yet. <br /><br />To succeed in this age of disruption, Erich Joachimsthaler, Strategy, innovation and branding expert advises to embrace the ‘World of Webs’ and ditch the older ‘World of Walls.’ The olden days were about insulating from competitors and creating a preference or a liking. Today’s world is ruled by demands, and brands should serve to enable connection, interaction, and change.<br /><br />Joachimsthaler who is also the founder and CEO of Vivaldi Group, an independent strategy, brand, and innovation marketing consulting firm believes that marketers must compete, even more than before, for a share of their customers’ busy lives and build an atmosphere that helps consumers interact and feel like they are a part of a larger ecosystem. <br /><br /><br /><br />Explaining how the ecosystem functions differently today, Joachimsthaler said, “The new world of branding is all about leveraging the connectivity that exists in the world, which is the connectivity of information. In a way, technologies that we see today aren't doing anything but connecting each other or connecting machines. And that's a source of competitive advantage. So when you want to build brands today, rather than doing interruption marketing, you need to find a new way because interruption marketing, the old way of branding and advertising, doesn't work anymore.”<br /><br />He further shared four new principles that can be followed to make stronger brands. The first rule is to establish a direct connection with the consumers. To execute this, Joachimsthaler said ‘you need to find a way for consumers to share data or content to engage them in a debate.’ <br /><br /><br /><br />Joachimsthaler said Nike and American global manufacturer of confectionery, pet food Mars Petcare have cracked this rule and managed to make consumers a key part of their journey. Nike became the shoe company for the World of Webs by tracking its customers’ habits accurately. <br /><br />“Nike as a shoe brand, for 30-40 years sold to retailers and and then the retailers sold to consumers. Last year in November, Nike made a very big shift. They started to sell directly through Nike. The reason why you do that is because you learn from consumers all the time and you collect first-party data. The other example is Mars Petcare. At great expense, they invested in veterinarians because they didn't have another way. People would not be buying pet food anywhere else but the grocery store because of convenience. So the other way for them to connect and establish a relationship with consumers was through these veterinarians.”<br /><br /><br /><br />His second principle suggests making consumers active participants in value creation by leveraging ‘Network Effects’ or ‘Learning Effects.’<br /><br />Third is about building an ecosystem, by partnering with other brands to help facilitate the availability of everything that a consumer needs under one roof and doing what’s best for all. <br /><br />Joachimsthaler says this is the trickiest principle, which made a local American corporation that manufactures agricultural, construction, and forestry machinery successful in a short period. Amazon, on the other hand, has developed a huge ecosystem by partnering with local artisans to big brands, but it takes away most of the profit, which is not what brand-building is. <br /><br />He said, “The third one is about building data and not just for you. It is about collecting your data through the interactions you have with your customers and figuring out who do I partner or collaborate with that would benefit from the data, but primarily also benefit my customer. For example, John Deere invited fertilizer companies to use the data and felt okay about sharing its profit with them. Most importantly, it realised that the farms will be better for my customers. And when they started doing that, suddenly there was a real connection, everybody benefited, including some startup companies who could actually work with real farmers on the field through John Deere. So the key there is to build an ecosystem. I call it in my book 'In the action field'. Amazon is also an ecosystem but mostly it takes the share. That's not good, it needs to change and it will change.”<br /><br />The fourth principle says that there's a need to ensure that data is used in the right manner and to personalise the conversation with your target audience. Joachimsthaler gave an example of Hema, a Chinese toy brand, that used its data to grow from scratch. <br /><br />He concluded by saying that any brand can beat Apple at its retail business by using the data correctly and personalising its communications. <br />

Four principles that can help build stronger brands: Erich Joachimsthaler, Vivaldi

<p><span style="font-size: 15px; line-height: 1.5em;"><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><span style="line-height: 1.5em;">With US-Iranian nuclear negotiations reaching their deadline this November, business around the world are waiting in nervous anticipation to re-engage with one of the world's largest economies. </span></span></p>
<p> </p>
<p><span>Even with heavy sanctions, Iran was the world's 21st largest economy two years ago. The country is rich in high-demand natural resources, has an educated workforce, and increasingly well-developed processing and manufacturing capabilities.</span><span style="line-height: 1.5em;"> </span></p>
<p><span>"As soon as we suspend our major sanctions - which will happen very early in the agreement - the world will flood into Iran," Wendy Sherman, the US's chief negotiator, <a href="http://www.voanews.com/content/us-negotiator-sherman-reports-progress-at-nuclear-talks-with-iran/2462342.html"><span>told Voice of America</span></a> last week.</span></p>

<p><span style="line-height: 1.5em;">Iran has the word's second-largest gas reserves, third-largest oil reserves, and significant rare earth deposits. The country's 77 million consumers have been locked out of global markets thanks to UN, EU, and US sanctions following the country's refusal to suspend uranium enrichment.</span></p>
<p><span>But while <keyword id="6356001" type="COMPANY" weightage="60" keywordseo="international">international</keyword> sanctions are relatively simple to lift through the UN and the European Union, American sanctions are more complex and politically sensitive, as lifting them will require cooperation from a US Congress often hostile to Iran.</span></p>
<p>"I see tremendous opportunities for American companies, but quite honestly European companies right now are stealing their lunch," <span style="font-size: 15px; line-height: 1.5em;">former Canadian Ambassador to the United Arab Emirates, <a href="https://www.linkedin.com/pub/ken-lewis/1a/906/b74">Ken Lewis</a>, told a group of Iranian Americans at a conference in Washington last week. </span></p>
<p><span style="font-size: 15px; line-height: 1.5em;"><span>The former Canadian Ambassador compared Iran's economic potential to Canada's, given its mix of primary resources and human capital.</span> </span></p>
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<h3>'Crippling' Sanctions</h3>
<p>At the conference, organized by the National Iranian American Council, panelists told attendees that European businesses wer<span>e already starting to build connections and solidify business relationships. NIAC is one of the few US-based organizations lobbying for general sanctions to be lifted in favor of narrow sanctions targeted at the regime's elite.</span></p>
<p><span>Congress has been traditionally enthusiastic in imposing sanctions on Iran, and even with a nuclear deal, legislators may see Iran's poor human rights record and support for designated terrorist organizations as justification for leaving some of them in place.</span></p>
<p><a href="https://www.linkedin.com/pub/bijan-khajehpour/7/793/946">Bijan Khajehpour</a>, a strategic analyst and entrepreneur, said that Iran was not merely a source or raw materials, noting that sanctions had pushed the country to further develop its internal production capacity. </p>
<p><span>"We are looking at a market that is transforming, that is industrializing, and that is looking for that connection," Khajehpour said, "what's missing is the connection with the West and the advanced technology that brings… the leap forward is only possible with Western technology."</span></p>
<p>Tech entrepreneur and international business analyst <a href="http://www.linkedin.com/pub/christopher-m-schroeder/6/2b0/860">Christopher Schroeder</a> said the country also had tremendous potential for tech, internet, and e-commerce businesses.</p>
<p><span>Schroeder noted that two-thirds of the population was under 35, Iran has the best internet penetration in the region, higher per-capita GDP than India and the highest share of engineering graduates in the world - yet internet and e-commerce sectors remained under-developed.</span></p>
<p class="p1"><span class="s1">"E-commerce is in its infancy, but it's a huge purchasing country, and it's one the most spectacular tourist destinations I've ever seen, and virtually none of it is booked online," he said. "You know, venture capitalists start to light up a little bit."</span></p>
<p class="p1"><span class="s1">Iran's government <a href="http://surveillance.rsf.org/en/iran/">strictly blocks many American websites</a>, including Youtube and Facebook. Reformists in the current government are <a href="http://www.economist.com/news/middle-east-and-africa/21607894-liberals-and-conservatives-argue-over-restrictions-internet-everyones-doing">advocating for controls to be loosened</a>, while workarounds to access social media and independent news are widely used by Iranians. But the country is still listed as an "<a href="http://12mars.rsf.org/2014-en/enemies-of-the-internet-2014-entities-at-the-heart-of-censorship-and-surveillance/">enemy of the internet</a>" by Reporters Without Borders for its web controls and censorship.</span></p>
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<h3>Obstacles Remain</h3>
<p><span>There are still challenges for US companies looking to Iran for business opportunities. For one thing, there are no direct banking relationships between Iranian and American banks.</span></p>
<p>Sanctions lawyer <a href="https://www.linkedin.com/pub/erich-ferrari/22/320/a06">Erich Ferrari</a> says banks in America remain "over compliant" and often block legal, approved transactions. "[There is] an immense fear of the [US Department of the Treasury's] Office of Foreign Assets Control," Ferrari said. Changing that culture could take time.</p>
<p><span>Bijan Khajehpour noted that under President Mahmoud Ahmadinejad, commercial law and anti-corruption measures had weakened. </span></p>
<p><span>"Even if all the sanctions are lifted tomorrow, doing business in Iran is not going to be easy," he said, "before Ahmadinejad we have under-the-table corruption, after Ahmadinejad we have over-the-table corruption."</span></p>
<p><span>He noted that while the current president, Hassan Rouhani, was committed to economic development and ending corruption, it was going to take time. The country has a poor human rights record, with hardliners in Tehran long supporting militant groups fighting the US and its allies, as well as promoting anti-Western rhetoric.</span></p>
<p><span style="font-size: 15px; line-height: 1.5em;">Khajehpour said his advice to firms entering the market was to partner with domestic businesses, at least initially. </span></p>
<p><span>"There are a number of issues, but my statement on business risks and challenges is that all of them are manageable, if you take the right approach," he said.</span></p>
<p><span>For its part, Iran's current regime is making a concerted push to attract foreign investment, promoting <a href="http://irna.ir/en/News/2739563/"><span>opportunities</span></a> and offering <a href="http://muftah.org/iran-releases-plan-attract-foreign-investment/#.VCxhnktaSHd"><span>tax brakes</span></a> to lure investors.</span></p>
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<h3>Global Implications</h3>
<p>If the sanctions are lifted, former Ambassador Lewis noted, it could have significant global ramifications. </p>
<p>"[The] world's largest reserves of gas suddenly become unfettered, and if I was sitting in Moscow I'd be worried about that," he said, adding that, "the second largest reserves of rare earths could end Chinese dominance in rare earths."</p>
<p><span>Even if a deal isn't reached, there is reason to believe that sanctions may be weakened. </span></p>
<p><span>Regional players such as <a href="http://irna.ir/en/News/2739563/"><span>Turkey and the United Arab Emirates have been working around the international sanctions</span></a>, and America's strained relationship with Russia may make Security Council cooperation on Iran increasingly difficult. </span></p>
<p><span>Tech expert Christopher Schroeder noted that sanctions were less intrusive now than when they were initially introduced. Schroeder claimed that sanctions on smartphones only recently being loosened, according to one significant investor, there could be up to 6.5 million iPhones already in the hands of Iranian consumers. </span></p>
<p><span style="line-height: 1.5em;">With sanctions losing their bite and significant political capital invested by both Rouhani and Obama, there is only increased pressure on each side to strike a deal before the November 24 deadline.</span></p>

There's Going To Be A Gold Rush If Sanctions On Iran Are Lifted, But America Could Miss Out

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