Corporate Eye

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Archives for July 2008

4 Faces of Branding

Every brand wears multiple hats, meaning it portrays a slightly different face to different audiences.  Typically, there are four main faces of branding that every brand portrays to the different audiences that see it and experience it.

Your Brand’s Face to Your Business

Your brand represents a specific image, message and promise that supports your overall business.  Analysts, investors, reporters, shareholders, business partners and so on typically see this face of your brand.

Your Brand’s Face to Your Employees

Your brand represents a specific image, message and promise to your employees that makes it meaningful and motivational.  This is the face of your brand that makes people want to work for your company.  This brand face is particularly important for companies that grow through mergers and acquisitions and need to integrate multiple sub-brands under a single company brand umbrella.

Your Brand’s Face to Your Customers

Your brand represents a specific image, message and promise to your existing customers that makes it meaningful to them and helps them develop an emotional connection and relationship with it.  This is the face of your brand that makes people want to buy your products and do business with your company again and again.

Your Brand’s Face to Non-Customers

Your brand represents something completely different to non-customers who have not yet experienced it first-hand.  This is the face of your brand that requires a significant investment in terms of developing awareness, recognition and expectations for it in order to drive non-customers to action and turn them into brand users and eventually loyal customers.

Take some time to evaluate the four faces of your brand.  Do they match?  If not, is there a valid reason why they’re different?  The strongest brands represent a consistent image and promise across all four faces with targeted messaging that enhances that face but doesn’t change it.  What do you need to do to make sure the four faces of your brand are consistent across all touch points of your business?  Making the necessary changes now will strengthen your brand in the long term.

Image: Flickr

Brand vs. Commodity

The next time someone in your company suggests to you that investing in brand development, positioning and messaging isn’t important, remind them that without your brand, you’d have little left to compete with than price.  In other words, without your brand, you’re just another commodity.

Certainly, your products and company offer features and benefits that consumers want and need, but it’s your brand that makes those features and benefits recognizable and preferred.  Those features and benefits are extensions of your brand.  Will they function on their own without a brand to support them?  Perhaps, but a brand makes those features and benefits much more powerful and helps to further differentiate them from anything else available on the market.  The brand makes them special and makes customer loyalty possible. [Read more…] about Brand vs. Commodity

Investor Relations Location

Most publicly traded companies have an Investor Relations page on their website.  This page gives the company an opportunity to provide information to all manner of investors whether current shareholders, or those researching a potential investment in the company.  Sometimes, though, finding the Investor Relations page can be a bit of a challenge.

The “Standard” Location

It has become a bit of a de facto standard for US companies that the investor relations page resides behind the link to “Company Information” or the “About Us” page.  Another common location is behind the “Contact Us” link which can be even less intuitive to those who are seeking information, not a person to talk to.  These site positions allow the company to focus the homepage on customers while still providing important information in a location that most investors are likely to find.  But, what about giving the investor relations link a little more prominent display?

Investor Relations on the Homepage

Consider the homepage for utility provider ComEd.  By slipping a link into the toolbar, ComEd is able to display a homepage that is fully focused on its clients, while still providing a prominent position for its investor relations material.  Such a display conveys the image that while ComEd cares about its customers, it also cares about its investors, a good message to send.

Investor Relations displayed on the home page.

By providing a link right off of the front page, a company increases the chances that ALL of its investors and potential investors will find what they are looking for.  While the semi-standard locations in the Company Information sections are no doubt good enough for those who are both savvy investors as well as savvy Internet users, such a location may prove difficult to find for those who do not frequently access such information.  For example, an estate attorney trying to look up information regarding paper stock certificates found in a deceased’s estate may not be familiar with the “standard” location.  Likewise, for older investors who may not be familiar with where a “normal” website keeps information.

Even younger technologically experienced investors who are used to a more Web 2.0 design where everything is presented in a dashboard style format may not expect to find investor information behind an About link.  After all, on many websites that area is reserved for basic information like addresses and phone numbers.

Perhaps most importantly to many companies would be employee shareholders who have loyally built up positions in company stock over the years.  These former employees and their families can be counted on as faithful shareholders and yet, they may not be able to find the basic information they need because they do not directly own shares of other companies, and therefore are unfamiliar with where companies usually put such information.

Is the Homepage Right for Your Company?

A homepage redesign is obviously not something undertaken on a whim, but perhaps now is the time to begin thinking about whether or not a more prominent location for the Investor Relations page would benefit the company.  Engaging in conversations with the right people in public relations and information technology would provide insight into the issues involved and the feasibility of implementing such a change.  The time to start such talks is now because the lead time to such a change can be significant.  However, the increased visibility of the Investor Relations section will be worth it, even if it takes a few months to make it happen.

The Emirates Business Sponsorship Creates Winners

Business sponsorship is not a new marketing or public relations idea that businesses use to gain recognition or to instill goodwill in consumers. The idea has been used and is used quite frequently in the business community to create awareness and increase consumer spending.

Sponsorship involves a business offering financial support to a company, event, activity or organization in pursuit of their goal. The benefactor generally has a product or service that they are trying to increase awareness of or bring customers to. In many sponsorship cases, especially in business, the recipient of the support agrees to tout the name of the sponsor in their marketing or advertising, branding or promotions material. The situation works ideally for both parties because each gains exposure for their cause while offering a (perceived) value to its customers.

Soon, the internationally-based company, Emirates, will be enjoying that same type of attention once deal is sealed on their sponsorship of an airline service in the United Kingdom. Shortly, Concorde Roundabout will come to be known as the Emirates Roundabout. Emirates is a giant in the economic sector of international airlines, having attached its name to activities like thoroughbred horse racing, football, cricket and rugby. They have enjoyed phenomenal success and measure it by word-of-mouth wonders. People just “know” the brand of Emirates and trust its reliability. When the Emirates name is attached to a product or service, (as in the case of the new airlines), there is favorable response. When you’re in the land of Emirates, everyone just knows what to do.

Achieving the status and pleasure of being a household name is no easy task, for any company of any size. Working on marketing, advertising, strategic product placement, customer satisfaction and customer retention are but some of the challenges facing companies who seek branding and profitability. They may try several strategies, lose a lot of money and tweak a lot of budgets before they decide on what is best for the company. Sponsorship allows the company to gain exposure and market its product or service, all at the same time. Connecting with customers in the medium of sponsorship keeps the company name out front and establishes it as a business leader – – not to mention the coveted word-of-mouth and household name advertising that accompanies it.

What things have Emirates done right?

  • As a corporation giant, they have sponsored and are sponsoring businesses that will tout their name and logo to thousands of potential customers.
  • They have carefully and methodically chosen where they will place their business name. This is a make-or-break deal in the business world.
  • They have taken the luxury of time to build a solid business foundation so that customers will gain trust in their product.

Although sponsoring a business can involve quite a bit of capital, the return on the investment is by far a greater reward for the sponsor. Giving and being involved in a business, supporting its functions and encouraging its business activities helps both businesses to thrive and establish themselves in the marketplace. I would speculate that with Emirates’ strategic sponsorship and business model, their corporate image will become a common business name, one where customers know and trust that they are getting exceptional service. After all, isn’t that the goal of all businesses?

Website Branding and Usability

I’ve been thinking about website design and branding this week, so I thought it would be a good time to talk about branding and website usability here on Corporate Eye.  Having come from a large corporate background, I’m well aware of the struggle between the marketing and IT groups when it comes time to create a new website.  The process begins by putting two groups of people who think completely differently in a room together and forcing them to create an end result that not only works but also drives business. [Read more…] about Website Branding and Usability

Referrals: The New Word-of-Mouth

One sourcing strategy which companies should focus on is their referral program. Often, applicants find out about a job opening by word-of-mouth: news spreads, and more and more people are talking about the company or the job vacancy. This is effective, especially if you think about the company’s reputation.

This has evolved into “referrals” which means particular individuals or groups intentionally and knowingly telling or asking people to apply for that company or job. There are a lot of ways that the referral strategy has evolved. Here are some examples:

  • Refer a Friend, Win a Prize – As the title suggests, referring friends and acquaintances for different job openings could actually earn you a reward of some sort. This is really effective especially for companies who are in constant “mass hiring” like the Business Process Outsourcing (BPO) industry.
  • Social Networking sites – Of course, online jobsites have an impact on recruitment for companies but social networking is slowly making its way to the top. One example of such is Techtribe which is a very big hit in India. I wouldn’t be very surprised if Myspace or Facebook could be one of the tools used for finding suitable candidates.

I personally consider referrals the “most honest” way that applicants could learn about the company because their sources are also the employees who have been working there and have experienced the work and culture of the company on a first-hand basis. In fact, big companies like PricewaterhouseCoopers, Ernst & Young, IBM and Intel Corporation  recognize the importance of referrals as their primary sourcing bin and give generous rewards to their employees.

Of course, the benefits or rewards for this recruitment strategy could be in cash or in other non-monetary means. This is a great chance for the HR Department to brainstorm and remember, referring needs more than just rewards — it should be an over-all package.