Last week our Founder and CEO, Gillian Horan, presented ‘Brand – why it needs to be on the board agenda’ in association with the MBA Association of Ireland (MBAAI).
The talk explored the sheer importance of a strong brand in today’s market from a workforce, company culture and a commercial perspective.
Attended by leaders from around the world, Gillian drew attention to the value of branding and its undeniable ability to drive economic growth. In case you missed the event, here is a taste of the key takeaways covered.
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1. Brand impact:
how does brand drive business value?
Brand impact is a direct result of having a strong brand. A strong brand is knowing who you are and why you do what you do. The impact from this is undeniable; it will define why your customers buy from you and choose to engage with your services. Benefits of a strong brand include financial or commercial success; a strong brand not only attracts similarly aligned customers but also people who want to work with your brand and help drive it forward.
2. The importance of people
People are an integral ingredient to any brand’s success. It is crucial now more than ever to have core business values reflected inside as well as out. How brands treat their team and staff is a direct representation of their values, and if they are not practised internally, they lose all promise externally. People are not an asset; they are critical to the growth and running of a business.
3. The need for true purpose
(and how to avoid purpose-washing)
When you have a great purpose, you attract great people. It’s important to note, though, that this word, purpose, has become a buzzword in the marketplace, and often what we are experiencing is ‘purpose washing’. This is when brands associate with the word but are not living up to their supposed values. A brand’s purpose should be simple and absolute. Most importantly, it needs to be experienced and lived internally for it to be true and effective.
4. The era of public
Now more than ever, businesses are being held accountable for their actions. Customers are taking proactive roles in analysing brand decisions and are less likely to engage with a brand that they don’t align with in terms of values or ethics. With this in mind, it is no longer enough to talk about purpose and impact; brands need to live and breathe it in everything they do.
5. The new reality
As a direct result of the Covid-19 pandemic, businesses and employees have found themselves in entirely unchartered territory. Home and work lives have become one, and how we work, as individuals and as teams, have been confused. As a leader, it is vital to be forward-thinking: how will your business emerge post-pandemic in the new reality? Many companies will stay remote or opt for hybrid environments. The most important thing a leader can do at this stage is to transparently and consistently communicate with their team and be on-hand for support when needed.
Make sure to keep an eye out on our LinkedIn page for information on upcoming talks and events like this, or sign up to the mailing list below to receive brand-related updates.
If you have questions or would like to discuss your brand in more detail, you can reach out to us at proof@thepuddingbrand.com