“The most valuable thing a company owns is its position in the consumer’s mind. When you tamper with this position, you are asking for trouble. Yet many companies spend much of their time doing just that. Tampering with the brand’s position.”
– Branding Strategy Insider
Why do countries brand themselves? The main purpose for doing so is to attract investment. It is a way to package a people, culture and identity to influence perceptions, and in certain cases, to separate oneself from either an unstable past or from a region in turmoil.
Just like branding for corporations, country branding involves finding the unique selling point (USP) for a country, to differentiate it from others in an increasing globally competitive world. And one of the most significant factors is sound governance and the reassurance that sound governance exists.
2020 has unveiled itself as a trying year for nearly every country and economy due to the pandemic. In its current wake, it has strengthened structural weaknesses in economies and political and social systems. Some have fared better than others, but none have been left unscathed. Some, like the United States, have been iconic brands for a long-time. The backbone of that strong brand has been the country’s long-term political and relative economic stability which has been seriously eroded throughout the year.
The pandemic, social unrest and political tumult we have all witnessed will eventually change the priority of values. The new world that emerges will demand that country branding truthfully reflect these new priorities in order to attract investment. It will also demand that country branding accurately reflect the new reality behind the old image. Storytelling will become a principal aspect of transforming country brands to help bridge the gap in consumer’s minds with community, trust and leadership as the central message points.
