Should A Brand Take A Stand On Social Issues? When? Why? How?
Every CEO today is feeling the growing pressure to take a position on some social or cultural issue that has become mainstream in our digital, partisan world. It is a quandary for many companies. Why stick your neck out by initiating a point of view if no one has protested yet or your brand has not appeared in the news. Yes, every brand situation is different and there is never a clear path to take, but here are some pros/cons on relevant options to consider: Biggest “hot button” issues today – A 2018 study by Cone/Porter Novelli found that 71% of Americans expect companies to connect...
Read MoreHow CEOs Can Restore Their Company Brand Trust
You just can’t win, say many CEOs. Take a stand on almost any socio-economic issue today and you will delight many, but offend others. While our society has become so polarized and reactive, there is also a growing desire by most consumers, employees and investors for CEOs to take more proactive action to improve society. The dynamics of any journey to build trust and credibility are often confusing and conflicting. The latest Edelman Trust Barometer study found that the credibility of CEOs reached an all-time low of 37% in 2017, although it jumped up to 44% in 2018, followed by a rating...
Read MoreWill Growing Income Disparity Force CEOs To Re-Brand?
It is an event that has been dreaded by corporate executives for years. The pay ratio disclosure rule in the Dodd-Frank law is now being fully implemented, effective May, 2018. While Congress has chipped away many of the regulations of this law, it has retained the part that requires publicly traded companies to calculate and reveal the ratio between the CEO’s compensation and the median pay of the companies’ employees. This could be a huge challenge to the brand image for these chief executives and implicitly a risk for their company brand. Income inequality had been growing for...
Read MoreThe Rise and Fall of the Trump Lifestyle Brand
The roller coaster ride behind the Trump brand and his merchandising empire over the past 20 years is a perfect example of what happens when a personal brand loses its credibility and integrity. Branding is strategic and should reflect certain promises and values that are relevant to targeted customers. Developing and communicating distinct credentials to stand out in a crowd is true for personal branding too, whether it involves a celebrity, a politician, or simply someone looking for a new job. Related to this, lifestyle branding builds on one’s personal brand, but there are inherent...
Read MoreHow CSR and Social Activism Are Defining Brands Today
Brand marketing has evolved from product-centric to consumer-centric to values-centric today. CSR (Corporate Social Responsibility) has become an essential ingredient in the marketing strategy and an integral part of the day-to-day operations of most companies. Importantly this emerging role of CSR has expanded the traditional principles of capitalism about financial performance or maximizing shareholder wealth. Most executives now recognize that there must be a balance between profitability and corporate responsibility. The rise of CSR reflects the changing values of consumers. A...
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