People have always been curious about space. For millennia, we have stared in wonder at the night sky guessing what (or who) is out there. In more recent years, we’ve taken our guesswork a step further – sending up satellites, space rovers and manned spacecrafts – to discover a multitude of ways space can be used to improve life here on earth.
But with recent advances in critical space technologies instigating an unprecedented boom of the sector, innovation is travelling far faster than understanding. Which poses a bit of a problem for the pioneers looking to market their creations. Could brand help?
With recent advances in critical space technologies instigating an unprecedented boom of the sector, innovation is travelling far faster than understanding.
Read our take on how brand and communications can be used to build understanding, engage critical audiences and accelerate the advancement of game changing space technologies.
The industry takes off
Morgan Stanley recently predicted that the space industry will be worth 1 trillion dollars by 2040, up from $350 billion, currently. To put that in perspective, it’s a revolution akin to the first commercial flights that took off from Florida in the 1920’s, or the introduction of the internet into mainstream use during the early 1990’s.
The reason? Where previously, the high cost of launching a satellite into space prohibited all but governments from entering the space race, today improvements in the design and launch of satellites have made it cheaper and easier for private sector players to participate. Ambitious starts ups and established aerospace companies alike are exploring the myriad novel opportunities space has to offer.
The tip of the iceberg
The rise in private companies deploying constellations of small satellites in Low Earth Orbit (LEO) has opened the gates for a multitude of novel applications. From bringing high-speed connectivity into the most remote places around the globe and linking devices across vast distances on the Internet of Things (IoT), to 5G networks that will unlock widespread use of virtual and augmented reality on faster more reliable networks.
And that’s just the tip of the iceberg.
Finnish start-up, ICEYE, operate the world’s first Synthetic Aperture Radar (SAR) micro-satellite constellation, an imaging and data monitoring capability that can capture multiple pictures daily around the globe, through darkness, cloud or smoke.
This represents the brink of a new world of opportunities with far-reaching use. SAR satellites can provide real time hazard and damage data during natural catastrophes like floods and wildfires for insurance, emergency management, and assessment of at-risk areas for future prevention. Combining SAR with machine learning is being used to detect suspicious activities at borders, ports and on the sea for matters of national security. New innovative uses emerge almost monthly – the study climate change, monitoring food security, providing instant mission-critical intelligence to military. The list goes on.
The gap between knowing and understanding
With such a startling rate of use cases, it’s difficult for markets (and minds!) to keep up.
By the time potential customers, investors or partners have got their heads around one new application, space innovation has already moved on. There’s clearly a lag between the moment crucial audiences become aware of new discoveries, and their understanding of how this can be applied in a useful and commercially attractive way. To fully reap the rewards space technologies will deliver across commercial, government and scientific progress, we need to bring these communities – the real gate keepers of progress – up to speed. And fast.
To fully reap the rewards space technologies will deliver across commercial, government and scientific progress, we need to bring people up to speed. And fast.
Not to mention attract the skilled workforce needed to develop these technologies in the first place. If Morgan Stanley’s predictions are right, thousands, if not hundreds of thousands, of jobs will be created as a result. Jobs that would need to be filled with the highest level of STEM talent – an already highly competitive employee market.
Closing the gap: a brand-led solution
Ten to fifteen years ago, what most people knew about the space industry was the once-in-a-decade, televised rocket launches from NASA’s space centre in Houston. Today, headline-grabbing projects like Blue Origin, Virgin Galactic, or Elon Musk’s SpaceX, have brought space back into mainstream conversation, and dreams of settling on an extra-terrestrial planet have fully revived. The point is, the sector has what many others envy: a captive audience.
To capitalise on this fact, individual companies need to lead the way in helping to educate the masses around the wide-ranging opportunities Space presents.
The sector has what many others envy: a captive audience.
This is where brand steps in.
At SDA, we believe that brand and communications play a vital role in creating sense™ during times of progress, guiding audiences to understand and embrace new paradigms, by engaging through levers that are relevant and meaningful to them.
If you are an innovative company advancing technologies in and around the space sector, and you struggle with the lag between knowing and understanding, here are three brand-led solutions that could help close the gap:
1) Clear and coherent communications
Space is incredibly complex. It is, quite literally, rocket science. But while the technology is complex, the way you talk about it doesn’t have to be.
Space is incredibly complex. But the way you talk about it doesn’t have to be.
Focus on the results, not the back end. Create clear, coherent communications that make the benefits of these technologies’ tangible and attractive for people. Avoid jargon and explain complex concepts to cut through confusion.
Not everyone knows what SAR technology is, for instance, but most people would be inspired by the fact that these images give us a way to finally end the devastating impact natural disasters have on people’s lives and their homes. It’s a way of helping people understand why these technologies are relevant; why they should care.
2) Distinctive strategic positioning
As Space becomes more congested and contested, companies looking to claim their place in space have to work much harder to stand to out. A distinctive strategic positioning that draws out your unique advantage is essential for guiding critical audiences to invest in you.
Be bold. In an industry that is constantly evolving, a more forward-looking brand strategy protects your advantage in the future.
In an industry that is constantly evolving, a more forward-looking brand strategy protects your advantage in the future.
For example, we see many exciting new space companies positioning their brands on their technology. But, given the speed of change in the industry, this could be a mistake. A future-proof approach would involve looking at what these technologies enable, the aspirations they unlock, the ambitions we have for them.
For more ideas on how bolder brand positioning and innovative design can help brands find long term success amidst evolving industries, read our article: ‘Embracing change: Navigating Business Transformation with Strategic Branding.’
3) Brand storytelling
We find that brand storytelling can be an incredibly powerful tool for reaching into people’s hearts and minds, helping to bring even the most obscure concepts to life in a way that deeply resonates.
And you don’t need to take our word for it. In studies conducted on the power of brand storytelling, 68% of consumers say brand stories influence their purchasing decisions, and as many as 92% say prefer ads that feel like a story.
92% of consumers say they prefer ads that feel like a story.
And let’s face it, very few things create such an immediate sense of curiosity and wonder as the great unknowns of space. You already have a captive audience. Use it.
Creating Sense™
In this new age of space pioneers, where innovation outpaces understanding, the role of brand and communication emerges as a crucial bridge. As the space industry hurtles towards a trillion-dollar valuation, the challenge lies not just in technological advancement, but in translating these breakthroughs into accessible narratives for investors, customers, and the wider public.
By embracing strategic branding, clear communication and powerfully relevant brand storytelling, space pioneers can demystify the industry, foster engagement with crucial audiences and transform fascination into investment.
At SDA, we support organisations big and small by creating sense through their brand. If you want to know more about how effective brand and communications can help you better engage with in the advancement of space technologies, get in touch.
