A Wolff Olins post today by the Head of New Thinking, Robert Jones, touched on something I’m thinking a lot about lately, actually in preparation for the AdMap Prize Essay Contest. This year’s topic is: Can brands maximize profits and be a force for social good? Jones lays some solid ground work:
We all know brands create huge commercial value – which places like Interbrand try to put a dollar value on. And we can imagine the chain of cause and effect that creates the value.
But can we do the same for social value?
If commercial value is a product of short-term (profit) and long-term (growth prospects), can we think about social value in the same kind of way? As the product of short-term happiness and long-term sustainability?
Jones does a great job of illustrating the rationale behind commercial and social growth:
However, the area that we really need to be looking at is the potential relationships between the two. In other words, how does one feed the other and vice versa?
More to come. Enjoy your weekend.