The future of brand communication in a self-actualized economy in 2050

Quite often, the tendency is for us to see science as a mutually exclusive subject that does not directly affect our everyday lives – at least that’s what I thought. But the more I have been exposed to this field, the more I realize how the different waves in science and technology have shaped the cultural experience of society, for example the way society communicates, acts and accesses information has changed because of the digital age.

Attending this conference has further opened my eyes to this and as a result has required me to think about the possibilities of the future and the role of marketing and communication in this regard.

In preparation for the panel debate, we were sent a document with the title Future Work/Tech 2050 Global Scenarios. Using a future studies methodology, the case study thoroughly highlights potential scenarios that could arise by 2050 as a result of global technological advances. In addition, the case study examines the effect these advances will have on politics, economics and culture. Of the three scenarios presented to us, the third is titled: If people were free – self-realization the economy resonated with me the most.

A culture of self-awareness, creativity and purpose

According to this particular future study, new technologies in the form of artificial intelligence will change the face of the labor market as we know it today. By 2050, approximately 4 billion people will gravitate towards self-employment. This means that although new technologies may not necessarily support formal employment, they can provide a favorable environment for alternative forms of work to thrive.

With this type of economic change, the study predicts that the percentage of people employed by companies will decrease and there will be an increase in the number of self-employed people. The study also suggests that individual power will begin to increase relative to government and corporate power.

This economic shift resulting from a technological revolution will also have a direct impact on global culture. Due to increased individual power, society will begin to embrace the concept of a self-actualized economy. Essentially, what this means is that individuals will begin to decide for themselves how to spend their time, ponder questions concerning their life purpose, and find ways to express their purpose through work.

As a result, a culture of self-awareness, creativity and purpose will culminate, and this can also change the way people relate to brands. In a society where individuals are self-conscious and driven by the need to express themselves, one must ask oneself how this will affect the way companies market and communicate their brand to the public.

A decline in corporate power

Corporate has for many years benefited from the existence of PR, marketing and communications. This is because this field of study specializes in examining the behavior of consumers or a specific target group, understanding their needs and wants and then using different methods to mass communicate a specific service or product to a group of people for profit purposes.

In fact, Edward Bernays, who is considered the “father of public relations” and known as the nephew of Sigmund Freud, based the foundation of public relations on studying audience psychology – which is a broad study of how an individual’s behavior is influenced in a large audience.

Over the years, this approach has worked like a charm because the economic system of capitalism derived a social culture of competitiveness, consumerism and the need to achieve material success in order to achieve social acceptance. Therefore, through PR, marketing and communication, companies have been able to win over the loyalty of different audiences by making use of this.

However, if future studies predict a self-actualized economy by 2050, it will cause us to see a decline in corporate power and an increase in individual power. If the current order of society will be about exploring personal creativity, self-awareness and pursuing purpose as opposed to seeking material success to achieve social acceptance, it may mean that the field of marketing and communication needs to start finding a different approach. to communicate brands to the public.

The changing consumer market

I therefore suspect that in contrast to a mass communication approach that groups people according to what they have – for example, using the Living Standards Measurement (LSM) method to understand a particular target group, a more personal approach may need to be adopted.

This means that brands may need to invest more time in scanning the environment of their target market, taking the time to understand what influences them, what they want, what they need, their deepest desires and fears. The changing consumer market will dictate that brands have the ability to engage as an active member of the community, skillfully interpreting their beliefs and value systems, and not just their physiological needs.

In the past, brands got away with simply marketing and communicating a product to push it into the market. This approach worked for years because the consumer culture at the time was more about what a particular product/service can do for me. However, this approach to a consumer today seems detached.

With the digital age allowing us to easily access information, there has already been a gradual increase in consumers who are more aware and have taken an interest in the politics that govern how a brand works. As a result, consumers confidently reject a brand that does not represent their beliefs or value system.

This type of consumer, unapologetic and self-aware, is predicted to increase exponentially by 2050. For brands that refuse to observe and listen, they will remain detached from the reality of their target audience and will find themselves preaching to the unconverted.