Creating business value in today’s corporate world needs to take in all intangibles, due demands and expectations of “business critical” communications. To win it – from conceptualization to publication – corporate communications officers need to understand the need of a structured 24/7 process of social and reputation management across all channels, and all markets. Be it your website, blogs, tweets, emails, what you communications represent your business to the world and is the cornerstone of your corporate strategy.
For those who have a vision to win the future corporate communications in Sri Lanka it is a tough challenge – but also a great opportunity to integrate new ways of making better decisions. But the reality of winning the future is not matching demands; instead it is about creating greater visibility across all platforms and removing unwanted clutter – which seems to dominate today’s communications.
So… what is needed to win the future of corporate content jousting? What new tools should communication officers arm themselves to penetrate the tough hides of clients, customers, investors and other stake holders? What new accessories should they need to join the fight for market share? This article aims to tackle them all..
Throw Away the “Current Strategy” if…
What is the predictive model that guides your current strategy in communication?
What is the ROI on your last financial calendar year on communication?
How has your communication driven your business value over the last 3 years?
If you are a CCO or a communication officer, and do not have a definite answer to either of the above three questions, then fear not – you are in the majority. 80% of reputation leaders across 300+ global companies agreed they are not ready to deliver on the promise of expectations, where people buy products, take jobs, makes investments, primarily based on trust, admiration and appreciation of their company. That is a staggering number. Are you one of them? What have you done to circumvent the problem? If your answer is to “invest more” on future communications, then it is time to throw out your current communication strategy… and keep reading this article to the very end.
Fundamental Reason why Reputation Leaders Fail in Sri Lanka
They don’t have a strategized structured process – to analyze the past, to measure the present and to look beyond to the future.
A structured process enable to influence, guide and benchmark communications of large businesses when integrated within the Corporate Social Responsibility (CSR) of that same business –making communication departments work with other departments while strengthening the core strategic areas of the company (instead of putting them in an island). Reputation management is the bridge that communicates your business strategy. Through reputation building your business becomes relevant to EVERYONE! From CEO to the executives that gather in the lunch room to share a rice packet, your reputation markets the belief of your businesses future potential.
Without a structured process, you can bet your sales force to lag for not having the latest proof points to handle customers. Without a structured process you can bet your investors to leave the next conference call with more doubts than beliefs… Worst of all, without a structured process you can bet your employees/associates to have a vague future about making a career with your company.
Damage Control and Specific Steps to Move Forward
While in no specific ways I will try to portray myself as a consultant or a strategist in the area of corporate communications, I will sit this part out and have internationally acclaimed communications strategist Kasper Ulf Nielsen explain it…
To move a business/company forward the CCO needs to take control of the process and define the answers to business questions like following:
1. What is the direct business impact of a good or bad reputation?
2. How does our stakeholder ecosystem work and what impacts do each of them have on the business?
3. What is our reputation strategy?
4. How are we implementing the strategy into the business?
5. Where are we investing money on communications and why?
So the question to ask yourself is – am I working on these answers or do I have them already? And if you do then you are among the 20%* who are ready to win in the reputation economy
*Results are from Reputation Institute “Annual Reputation Leaders Study, 2013.”
When American Airlines faced a series of airline safety mishaps and was going through chapter 11 bankruptcies back in 2012, the company was literally on life support. They were in dire need of a pulse to ignite the confidence of investors, boost the trust of passengers, and convince their employees (those who survived massive cuts that took place within the year) to believe in the future of American Airlines. Instead of asking passengers, investors and employees to believe in the company, American Airlines CEO Tom Horton expertly sends a “thank you” message in a 60 second video that rest all doubts about the company. This single video accomplishes more than what most companies would have strategized to do “damage control” through their communication efforts.
Winning the FUTURE
The best way to predict the future is to invent it – Alan Kay.
That does not mean you need to start laboring away inventing a corporate communication model right this moment. Instead, I rounded up nine internationally acclaimed marketing gurus to prophesize the winning marketing strategy of the future. While each of the nine quotes is a great way to get started in the right direction, the next contemplation is to HOW to present it to your stakeholders – What is the MOST EFFECTIVE medium? What is the BEST mode of delivering a positive ROI? What is the MOST ENGAGING tool that can go social media viral? And most importantly in less time with fewer resources?
VIDEO
WHY? Because (effective) video story telling of a company and is the new norm in the corporate world – and it works. Video is everywhere you turn on your PC. From adorable kittens to drunken men trying to break-dance –not hitting the play button has become painfully irresistible to everyone on social media. A video can bring your business to life with a “creation story” on how your company began; it can include characters your audience will root for. It can infuse a personality to a story (and while not giving too much away) your audience will look forward to seeing much more of your business again… and again.
Just watch the below video on how Chipotle® revolutionized powerful corporate story telling using video in 2013. It is of a scarecrow living in a processed world thinking of turning his garden to a thriving farm. After the video was launched online, media experts hailed it as “all other ads should give up”. The video ran through social media channels and morphed in to a television commercial Chipotle® never even paid for. As a result the video gained 11.6 million views on youtube, more than 12,000 facebook posts, 32,000 tweets from more than 30,000 unique users for a jaw dropping 126 impressions within months.
Think your business can gain from video? Contact us or get started NOW! for a free consultation.
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