Diageo and Added Value on making culture pay
Cultural relevance is a major goal for brands. A joint presentation from alcoholic drinks business Diageo and brand consultancy Added Value, held at the 2015 Cannes Lions International Festival of Creativity, gave some practical guidance on how to achieve this aim.
The presentation argued that "cultural vibrancy" is key to sustainable growth. As Bart Michaels, Added Value's CEO, put it: "Great things come to those that focus on culture."
The new cultural context
Deep societal shifts have led to culture becoming particularly important. Michaels pointed to statistics showing that seven in ten millennials aspire to being CEOs. "They are not what we would previously have called consumers," he said.
"No-one is defined by what they consume or own any more, and people aren't interested in the old concept of brands. This drives a totally new marketing landscape."