Next Generation Brands?
We just witnessed a serious amount of cash go to building brands at all costs until they figured out how to get customer acquisition costs down to the point where the business could be profitable. Not the smartest business model but it seemed to be working.
Now we are witnessing some brands now explode without little or any advertising. The cost of customer acquisition has imploded but business has ramped up depending on the product.
What are we going to learn from that? Is the massive cost of in your face Instagram and Facebook still worthy? Will people go back to that after the pandemic is behind us? Or will the costs go down to advertise because so many brands will have failed? Will there be many mergers of brands? Certainly lessons will be learned all the way around.
Will the next generation of brands need more authenticity? Will celebrities still drive product? Does anyone care about a celebrity anymore after witnessing them on lockdown in their posh lives?
What have we learned and where are we going? The mood of this country will be very different when we on the other side of this pandemic. Time will tell.