When your big brand gets attacked by smaller ones, do not sit still. Instead, manage your brand’s reputation with proactive steps, says Mark Penn, CEO Worldwide, Burson-Marsteller. Penn was addressing the Thunderbird Global Business Dialogue held in Glendale, AZ on November 11, 2011.
Penn gave the audience a simple equation. Numbers + Creativity = Strategy. A solid grasp of numbers (data) will enable you to target key audiences and communicate your messages creatively. Identify and reposition your target backed by solid data.
Here are a few of Penn’s tips:
- Get clients to see the worst that can happen to them
- After a crisis, tell people the “essence” of who you are
- Use disruptive technology, use the Internet to disseminate messages
- Explore new targeted audiences
- Sometimes, you have to make a choice
- Always make it about your customers, not about you
- Correct misperceptions about your brand
- Renew your brand for today’s times and technology
- And the most important piece of advice: Have an adequate understanding of the present.
Categories: Brand Equity, Brand Management, Branding, Burson-Marsteller Worldwide, Creativity, Data, Disruptive Technology, Dominant Brands, Global Advertising, Global branding, International Marketing, Mark Penn, Reputation Management