Brands can harness the power of technology to do good in society and fight the impact of category disruption, according to Edward Pank, Managing Director of WARC Asia Pacific.
According to the WARC report Marketer’s Toolkit for 2019, around 800 marketers from around the world said that they are threatened by category disruption.
“Disruption is often driven by challenger brands that focus on human-centric innovations with alternative business models, and these businesses are primarily online and are not burdened by legacy structures. So how can tech for good help to fight disruption and help brands become disruptors themselves?”, Pank asked at the IAA (International Advertising Association) World Congress held in Kochi, India.
To answer this critical question, Pank explained what he means by tech for good.
“Purpose is a way for a brand to stand out and many brands are doing it successfully, gaining preference in a very cluttered marketplace. Tech offers connectivity and convenience, it is a powerful tool for delivering social good, it offers reach and simplifies the way audiences can engage with a particular issue,” he explained.