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The Provocateur – Special Edition: New Economy meets Powerbrands
Today we tackle a topic that is shaking up media, marketing and consumer experience in every sector. New Economy meets Powerbrands is about two mega-camps converging on the same territory – but coming from very different starting points.
New economy brands are digital and performance superstars, disrupting sectors with innovative new ways to do business, notably in the ‘last mile’ for food, in cars, finance, dating, entertainment, health and fitness. Powerbrands are much-loved global names, instantly recognisable, with decades of brand equity and on most consumer’s consideration lists.
At Wavemaker we have clients in both camps, from New Economy stars Zwift, Doordash, Square and Coinbase to Powerbrands like Danone, Colgate, Tiffany, L’Oréal and Mondelēz.
Right now both camps need and want the strengths of the other – New Economy players must become strong brands to scale and succeed; Powerbrands need precision smarts to reach consumers in a cookieless, complex platform world.
Over the next five months our best brains, working with clients in this space, will explore what each can learn from the other, the different strategies and tactics employed by both on the world’s biggest social and commerce platforms – and the new consumer experience at the end of it all. First up is Worldwide Head of Strategy Chris Worrell, with a forensic look at the differences between CPG and D2C brands, and the dangers of mistaking brilliant tactics for business strategy.
Chris Worrell, Worldwide Head of Strategy