Welcome to The Place Brand Observer, where we delve into the latest trends and developments in place branding and reputation management. In our ongoing conversations with thought leaders in the field, we have gained valuable insights into the challenges and opportunities that lie ahead.
Our recent panel discussion centered around key topics and questions that will shape the future of place brands. Join us as we explore these themes and envision the path ahead for place branding in the coming years.
Measuring Success Beyond Dollars
Günter Soydanbay believes that we need to start measuring success in place branding with metrics that aren’t quantified in dollar figures. With well-being budgets being implemented alongside traditional budgets, there is a growing sentiment that more dollars aren’t necessarily the be-all and end-all. This raises an important question: how can we measure success in place branding without relying solely on financial metrics?
Reimagining Downtowns and Main Streets
Bill Geist is interested in the concept of “main street,” specifically in reimagining downtowns and rethinking businesses that rely on foot traffic. This is an area that has been greatly impacted by the pandemic, with many small businesses struggling to survive. It will be interesting to see how cities and regions adapt and innovate to support their local economies.
Brand Relevance in Today’s World
Tom Buncle asks if brands are relevant in today’s world, especially to the Millennial and Gen Z generations. Are they driven purely by utilitarian considerations when investing/purchasing, or are brands still operating at a more subliminal level? With the immediacy of transactions and the overwhelming amount of information available, it’s easy to overlook what brands stand for. However, as Buncle points out, brands may still offer a stamp of quality that is hard to discern amongst the mass of competing offers.
Authenticity and Cultural Identity
Magdalena Florek stresses the importance of cultural authenticity in place branding. Authenticity is what sets destinations apart from each other and helps create a unique identity. This is especially important as travelers become more interested in immersive and authentic experiences.
Sustainability as a Selling Point
Jeannette Hanna sees innovation in the stewardship of a place’s natural environment as a great attractor for tourism. From Singapore’s Supertrees to Copenhagen’s incinerator/ski slope to indigenous tourism in many parts of the world, there are countless examples of how sustainability can be a major selling point for a destination.
[If interested in the topic of sustainability and how it intersects with place branding, head to our sustainability theme page.]
The Search for Shared Meaning
Dr. Natasha Grand questions whether place branding has become exhausted in Europe and North America. Has the focus on tourism, talent attraction and community creation created separate tracks for different public sector agencies? She poses the question of when or if there will be another search for a shared meaning. This is an interesting point to consider, as cities and regions can often become so focused on their own priorities that they forget about the bigger picture.
In conclusion, the insights shared by our panel members shed light on the future of place branding and the challenges and opportunities that lie ahead. As we navigate the evolving landscape of place branding, it is clear that measuring success goes beyond financial metrics, emphasizing well-being and holistic indicators. Reimagining downtowns, embracing cultural authenticity, and prioritizing sustainability are essential for creating meaningful and relevant place brands.
Furthermore, fostering shared meaning and collaboration among various stakeholders will be crucial in shaping a collective vision for vibrant and inclusive communities. By staying attuned to these key takeaways, we can pave the way for a future where place branding plays a vital role in shaping sustainable, equitable, and thriving environments.
Thank you for joining us on this exploration of place branding, and we look forward to continuing the conversation as we navigate the exciting path ahead.
With thanks to the panel of industry leaders for sharing valuable insights into the future of place branding. The panel comes together around three times per year by invitation of Dr. Florian Kaefer, publisher of The Place Brand Observer.
With over a decade of experience in place branding and reputation management, Florian is a recognized expert and thought leader in the field. Through his articles and interviews, he provides insights into the latest trends and developments in place branding, as well as practical advice.