While at Birmingham Tech Week we talked to people working in property, apparel, and cosmetics. Prop-tech, sure. But Fashion-tech? Cosmeti-tech? Do we really need the hyphen? Let’s just acknowledge that almost every company is a tech company.
Back in 2020 Deloitte research showed:
- 58% of digitally mature companies were delivering digitally connected products
- 17 of digitally immature companies were
And this is before the AI boom.
Digital platforms, tools, and automation are built into the DNA of competitive businesses – even if they don’t consider themselves tech companies.
For example, Gymshark is one of the West Midlands unicorns and is technically an athleisure company. But it has a team of more than a dozen engineers working on its D2C infrastructure and leverages data analytics and artificial intelligence to enhance customer experiences and drive innovation – a large part of its success. Does this make it a tech company?
Octopus Energy, also based in the West Midlands, surpassed British Gas as the largest energy supplier in the UK with 22% market share. Their Kraken platform uses machine learning to optimise real-time energy management, streamline customer service, and scale globally to serve millions of accounts. They’ve licensed this out to E.ON, Origin Energy, and EDF.
Similarly, Ocado developed the Ocado Smart Platform (OSP), an end-to-end solution integrating advanced robotics and automation for efficient online grocery operations.
How useful is the designation “tech” anymore?
We don’t think of Gymshark, Octopus Energy, or Ocado as tech companies, because that’s not the message they lead with because it’s not enough to differentiate them from the competition. The fact that they have tech-enabled products isn’t how they’re going to win in the marketplace. It’s just gotten them into the marketplace.
Developing a strategic brand identity will help you build a competitive advantage that features alone cannot.
Affinity with your key audience. Positive perception. Alignment with your values and what you stand for.
This can’t be copied, replicated, or ripped off.
McKinsey, Deloitte, et al. have banged on for the past 20 years about digital transformation – and it’s well underway. The question isn’t whether you will undergo digital transformation, because you probably already are, but whether you’re differentiating your offer in other ways, the most visible and impactful being brand.
We’re currently running a survey of UK sales and marketing leaders.
- 33% say investing in brand would help them win in the marketplace
- 25% say investing in product would help them win in the marketplace
Speedy Services
Speedy Services is another good example. Their primary customers are medium to large construction companies working on big projects. Their hire platform makes sure customers get tools fast. They also track usage data that can be used to track ESG performance (e.g. carbon emissions.) Along with this, they are electrifying their fleet of trucks and leading the charge on battery-powered tools.
However, they realised that their emphasis on the functional proposition was limiting.
Their differentiation needed to come from how they communicated their value to customers through a redefined brand and a commitment to sustainability.
Speedy Services took a data-driven, consultative approach to redefining their brand. They engaged diverse stakeholders, simplified their brand architecture, and crafted a compelling proposition – “Let’s get it done” – supported by bold visuals and authentic imagery. This drove home the idea that whether you’re building a patio or the HS2, you can do it with Speedy.
The Bridge
Brand is a bridge from the value of your product to the audience you’re hoping to connect with. Where this fails, is when you develop one without the other.
To learn more about shaping a brand that means more and achieves more, get in touch with our Managing Director, Andrew Milton, at andrew@rblteam.com or ring (+44) 01926 678368.
