A creative conversation between Des and Tina, Brandopia's mythical brand developers
DES: Born on the 4th of July, it would be interesting to read about Brand USA's position in the recent Country Branding Ratings & Rankings launched by Bloom Consulting.
TINA: For the convenience of Brandopia's readers, we've published a synopsis below penned by Bloom Consulting's CEO Mr.Jose Filipe Torres...
...Brand America ranks #1 in the Business world.
The USA is doing something right when it comes to branding, even after the downgrading by rating agencies. ( I leave my opinion of rating agencies for later)
According to the recent Ranking and Rating launched by Bloom Consulting, a consultancy firm specializing in the development of Country Branding strategies, the USA ranks number 1 in the world when it comes to the attraction of foreign direct investment. Essential for GDP growth, creation of companies, employment and wealth.
In practical terms, this means the USA brand was able to attract an additional 78.000.000.000. US Dollars over 2005-2009 due to its brand appeal.
The question is, how to keep up as number 1?
The USA shouldn’t stay still and must keep on protecting this “idea”, actually innovate on this “idea”. The “idea” that the USA is the most suitable country in the world to be happy and to prosper. It is fundamental to keep exploiting what the USA thrives on, this is the spirit that anyone, regardless of their background or nationality has a greater chance to succeed by simple meritocracy than in any other country.
The Bloom Consulting research, that involves world bank data, proprietary methodology and research for financial quantification, reveals that the USA is using the most valued differentiation aspects to promote itself internationally.
The study concluded that 63% of the 144 countries included in the research were using arguments such as “Fiscal Policy” to convince investors to choose their country. However interestingly enough, number one, is “ Social Welfare”. Meaning, that for the first time in the history of business, soft facts were more effective and powerful than hard facts. It is no longer about simply making the best deal numerically speaking, but also about the quality of life and happiness.
If the USA continues to innovate in this department and to develop new ways to attract talent from different countries, the rest will come naturally; just like it did during the post world war period and in the 80’s.
According to a recent article (The Magic of Diasporas published by The Economist), if 'The Diaspora' would be a country, it would be the world’s fifth-largest nation with 215 million first-generation migrants. Just above the size of Brazil.
Certainly, this number will grow due to the significant economic downturn, as fully prepared young and entrepreneur talent from Europe and other parts of the world will move out of their country to look for new opportunities. Now it’s a chance to receive them, their new ideas, new ventures, and in some cases new investment as they pitch their contacts in their homeland to start their ventures.
That will create jobs, wealth and economic growth.
The biggest challenge is no longer about competing with one specific country, but rather against 4 – that looks like one – The BRIC countries (Brazil, Russia, India, China). Combined together they surpass the USA. However there is still a long process to come before they, individually, reach their full potential. In the end a Country Branding strategy must have a specific objective with clear tasks and quantifiable outputs. It should serve a purpose and that purpose is economic growth and to improve the quality of life
My recommendation is to keep on selling the dream, fomenting the appeal to international talent and international entrepreneurship and the rest will come naturally; keeping the focus in one channel to pass that message – The movie and entertainment channel. Something that has been done brilliantly so far, but needs to keep on going!
The show must go on!
'Brand' the Marketect says:
"The American Culture Code for America is DREAM. Pessimism is off-code in America. Dreams have driven the American culture from Pioneering the Wild West to creating Hollywood and Silicon Valley to Space Exploration."