How 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...
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...
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...
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...
read moreHow Newly Energized Millennial Activists Are Shaping Brand Choices
Already in 2018, we have witnessed traumatic events that have galvanized a surge of activism from three sources which heretofore have been either dormant or ineffective with their voices for change: (1) primarily Millennials, led by Generation Z students from the Parkland, Florida massacre who are initiating a broad movement against pro-gun politicians tied to the NRA, (2) noteworthy brands taking a stand against NRA positions, and (3) the women’s growing movement against sexual harassment ( e.g. #MeToo initiative). The ultimate goal of...
read moreThe Emerging Challenges For Managing Brand Risk
Last year was a watershed year for business and our society, where rising populism, Trump’s polarizing accusations and various socio-economic trends have made the topic of “brand risk” a top priority concern for every marketer. Traditionally politics has always been avoided by business leaders as it could lead to unpredictable problems, with no assured benefit for their brands or corporate reputation. Today it is almost impossible to avoid taking a position on many political and socio-economic issues, especially with social media ready to...
read moreNaming Brands – The Unsubtle (Trump) And The Subtle (Drug Companies)
Most people think “branding” is simply about creating a catchy, memorable name for a product, service, organization and even people. However branding is much more complex. Good branding starts with the development of a message or impression that reflects the unique benefits and characteristics of that entity, and then creating a name that ideally communicates its qualities and personality to targeted customers. As one can imagine, there are numerous approaches and philosophies for brand naming. Here are two contrasting examples: Trump’s...
read moreHow The New Tax Bill Exacerbates Millennials’ Frustration With “Brand Capitalism”
“Capitalism” is really the brand of our free market economic system which has been the driving force for American commercial success since its founding. But is it working as a fair and just system for all today? Millennials don’t think so, especially after the 2008 Great Recession. And now the new tax bill may become a tipping point for the Millennials’ frustration. Three years ago I wrote a blog that reflected these concerns: “Why Capitalism Must Be Re-Branded – And How”...
read moreBuilding A Stronger Brand And Culture With “Keystone Habits”
Marketing is ultimately about changing the behavior of a customer (e.g. a purchase decision). Related to this, creating new behavior patterns of employees is also essential for transforming a company culture and brand. With social media dominating our lives today, the behavior of company employees and external customers is intertwined, presenting new opportunities for strengthening company brands. In a recent newsletter from a friend, Rich Czerniawski, he referred to the concept of “keystone habits”, which came from Charles Duhhig’s book,...
read moreThe Resurgence Of Values-Based Branding For Restoring Trust
The scary decline of trust in all facets of our society has created a new challenge for brands: how can brands overcome the growing skepticism and lack of credibility caused by this distrust to authentically relate to their customers. These trends have led to a rise of cynicism, where most Americans trust news or feedback more from “people like themselves” rather than the government, media or big business and brands. Appealing to these distrustful customers who lack confidence and motivation has become a top priority. The answer will...
read more
Connect with us