MARKETING & COMMUNICATIONS

corporate citizenship/human capital

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Conference Board:

“… brand reputation …  any storytelling about the company’s action or inaction will directly affect its brand reputation and its profit margins…

…your stakeholders consist of your customers, prospects, colleagues, employees, suppliers, influencers, and other groups that have any direct or indirect involvement with your brand …

… stakeholder prioritization comes into play…

… very important now: lower prices and higher quality of a product / service …

… strive to build your story to get the highest return on brand reputation; thrive through the stormy waters of the coming recession.”

“In addition to free-market laws where supply and demand are running the economy, companies and consumers are making their difficult choices guided by their conscience. Companies around the world had to be scrupulous when choosing a route on how to respond and take a stand on the geopolitical events and communicate it to all of their stakeholders. It is tempting to believe this has abated as time has passed, but it will rise again.  The pressure is mounting as we move inexorably towards a recession and the basics of food and energy in the winter will cause stress for great parts of the US population.

In this context, what a company decides to convey to the world will affect company’s brand reputation and may be a trigger and a turning point for its brand and, possibly, its future existence.

How do companies balance their comments – and, more importantly, their actions – between voicing concern for human beings in other lands versus ensuring they are caring and empathetic for those facing growing hardship from the economy at home? 

These two concerns are linked, with rising energy and food prices being felt in the US strongly affected by Russia’s actions.

However, there are also other costs indirectly rising for consumers such as housing and shelter.

This is not so much an issue of War vs. Recession but one of War and Recession.

Balancing the story you tell about supporting the freedom of the world at large and caring about the challenges of the people at home will be crucial. 

How this is done will feed into how your company is regarded.”