In a faltering economy, Brand Trust is the most powerful tool corporations, nonprofit organizations, and even individuals, possess.
To establish a trusted brand means more than to present pretty logos and fancy slogans.
Your brand foundation should be one that is authentic; built on the integrity of your products and services, and recognized for the passion and value you and your organization bestows upon the world.
Follow these nine steps to create the perfect brand pitch. Your brand equity and the opportunity to monetize your brand reach will double within the next twelve months.
We bet our brand on it!
Step I: Revise, Revamp, Refresh, and Renew Your Brand. Does the brand reflect your values? Is it relevant to the challenges of today? Is it authentic (or does it try to do too much)? Does it make an emotional connection with stakeholders that will not waiver when times are tough? What would you change about it? The good news is that if the answer to any the first four questions is “No,” you have a unique opportunity for a do-over. Now, ask yourself, “What would I change about my brand?” Change it.
Customers, employees, shareholders, and funders respect authenticity. They want to be connected to a brand story, a story that has changed the lives of others, and will do the same for them. Stakeholders are forgiving. If you need to revamp, revise, renew, or refresh your brand – it’s okay. Just Do It.
Step II: Maximize Media Relationships. Strong relationships with print, radio, television, and digital media outlets can increase the potential for positive coverage for excellence in product and service delivery. These relationships also ensure you are treated fairly when you or your organization makes a mistake.
The first step is to research the most appropriate media outlets for your target audience. Did I say research? I’ll say that a lot in this article. It’s critical to understand who your stakeholders are, and most importantly, what the most salient means to connect to them is. Begin establishing trusted relationships with a number of sources with each channel. Provide them with news that provides value to their readers, watchers, and listeners. Become a trusted resource for them, and they will become a trusted resource for you and your organization.
Step III: Establish and Cultivate Corporate Partnerships. Corporations, nonprofits, and NGOs with an interest and passion in your products, services and mission can make great strategic partners. Contact firms with multinational reach and ask how your organization can help meet their corporate objectives. If you represent a nonprofit, find out if your organization can help global firms meet their Corporate Social Responsibility goals.
Research (there’s that word again). Find out to whom, and what causes, they are currently giving – and whether there’s an opportunity to augment that relationship. If you are a small business owner with a niche product or service, explore opportunities to help a global or multi-national firm reach your niche market. If you represent a global firm, discover new ways to partner with like-minded firms to expand the reach of both organizations. This tactic leads us to the final step in Part I of the Breakthrough Series.
Step IV: Foster Co-Opetitions. Organizations that build relationships with competitors to deliver on specific projects, or tackle a socially relevant objective within communities are becoming more prevalent in today’s economic climate. Many of these collaborations have become more successful than either individual organization. The synergy presents a great way to leverage resources, and marshal goodwill.
In Part II of the Breakthrough Series, we will explore the final five steps to double your brand equity in a faltering economy. In the interim, you have plenty of time to get started with the first four steps.
Judy,
Thank you for recognizing the importance of building trusted collaborative relationships! So many don’t – but if you think about it, why wouldn’t we want to scratch each other’s backs?
I know in my business we’ve always got an itch, don’t you?
Thank you for this pointed report. The section on building relationships with the competition is so relevant in today’s environment. It’s getting back to that old adage, “you scratch my back, I’ll scratch yours”.
It’s a great lesson in breaking down that silo mentality when it comes to knowledge hoarding and our “share” of the work. Thank you!
Thank you, Jan.
We appreciate your kind words – more importantly, we appreciate the opportunity to present thought-provoking conversations that elevate our dialogue in business and in life.
Please visit again!
This is one of the best research reports that I have read. Its relevance is undeniable, particularly during these economically, politically, and socially-challenged times. It has started me to think much more seriously about the trust factor in my company.