Linking efforts with a company means placing your brand perception in someone else’s hands. But recent research points to an 80% corporate partnership failure rate.
Global sponsorship spending is a $60.2 billion business, according to IEG’s 31st annual year-end industry review and forecast, and is projected to grow 4.7% this year. What is it that draws CEOs and CMOs to sponsorships as a brand-building tool? One CEO explains how a niched, targeted sponsorship has been effective for his business, while the event director offers 3 ways CEOs can optimize their sponsorship spends.
CEOs offer 12 points on managing your brand communication in the digital age.
While CEOs of S&P 500 companies are overwhelmingly seeing tepid revenue growth and declining profits, a few highly innovative companies are successfully accelerating organic growth by building emotional connections with customers.
Peter Drucker, the guru of modern management theory, said these now famous words: “the purpose of a business is to create a customer, and the purpose of the leader is to grow the value of the customer.”
Rebranding a business is a great opportunity for a company to show how it has evolved over time and debut its forward-thinking vision and mission to its constituents. It also is a tremendous undertaking, which requires precise strategy, exact timing and a great amount of preparation that must be communicated from the top all the way down.
Former Valeant Pharmaceuticals chief executive Martin Shkreli may be the poster boy of price gouging run amok, but the heat is increasingly on for the rest of the industry to tamp down on drug price increases and base growth more on productivity and less on arbitrary hikes to please shareholders.
Every week seems to bring some new revelation of trouble for the manufacturers that once dominated the U.S. and global processed-food business: Kellogg, General Mills, Kraft, Campbell Soup, PepsiCo, ConAgra and the like. And it equally brings news of some upstart brand that is helping to reorder this massive business with some new innovation in products, packaging, marketing or all three: Annie’s, Amy’s, Plum Organics, Chobani, Lifeway cultured-yogurt drinks, and Vita Coco coconut water.
Since Tim Cook and Howard Schultz stood on their soap boxes and advocated for gay rights and race relations, respectively, more CEOs have taken to the pulpit to speak their minds on social issues. Their opinions are also more frequently showing up in their strategies.
One of the most under-appreciated factors in the success of a middle-market business—or any company, for that matter—is for the enterprise to have a cohesive internal identity and culture that is authentic and resonates with employees, helping to retain them and keep them happy.