As many organizations started to embrace change caused by Covid-19, rebranding may occur as leaders shift gears in their business models. One of the critical questions is how to ensure the transition is implemented successfully. What should be the next proper course of action to be taken?
Purpose-Driven Brands
It’s no longer merely about the mission and vision of organizations but how it delivers values to customers. It may be a piece of cake to aspire to improve society, but it needs crystal-clear clarity of purpose equipped with actions to achieve organizational goals.
Brands That Elevate Communities
When the Covid-19 outbreak happened last year in Malaysia, members of the Malaysia Official Designers Association (MODA) used their dressmaking skills to produce the much-required Personal Protective Equipment (PPE) gear for hospitals. MODA acted swiftly after receiving messages from the fashion design community regarding their wishes to assist the frontliners during this crisis. In collaboration with Fashion Valet, the PPE Fund Raising campaign aims to raise donations to purchase non-woven hospital standard material to produce the hospital gowns. Furthermore, MODA worked with the Islamic Medical Association of Malaysia (IMARET), who helped distribute the gowns to the hospitals. These brands demonstrated the importance of their roles in elevating the communities during the crisis. Their purpose-driven actions involving Corporate Social Responsibility (CSR) have helped build them a stronger brand identity and reputation.
Brands As Unifiers
Based on Deloitte Insights 2020 Global Marketing Trends Report, it is found that more than half of the customers perceived that organizations should play their parts in tackling societal issues, apart from making profits. Also, it is found that goal-driven organizations experienced almost 50% higher workforce retention than their rivals. Although retention may not be the priority for many organizations, it is important for the future. Therefore, how the business leaders behave will make a difference in the later stage.
A more compassionate trend has gradually appeared where many neighbours would take care of each other. A stronger sense of community started growing during the crisis, demonstrating every individual’s critical role in the community. The same goes for the brands, as many of them are struggling to survive and how they can contribute to society. For example, in collaboration with the Ministry of Health (MOH), AIA offers hospital staff a one-time RM1,000 Inconvenience Allowance if they were diagnosed with Covid-19 when they were on duty. Their beneficiaries will be compensated with a Compassionate Relief of RM10,000 if the frontliners kick the bucket while on duty fighting against Covid-19. Such financial support will be provided where a total fund of RM2 million is disbursed.
Organizations today need to see far beyond awareness and survival. Not only should they have a big picture, but also their achievable tactical plans with their employees. Thus, business leaders should re-define their brands and retell their stories in which they aim to be apart from offering solutions to their customers. Furthermore, they need to shift their focus to what helps build greater trust with their customers. Lastly, they need to be able to walk the talk, not talk the walk. It is because dedication and commitment will help make the business stronger during a crisis.
Searching for the best way to re-define your brands? Join our upcoming virtual event series named “Reimagine, Renew and Rebound” from 16th to 25th August! So, share our events with your friends! For a personal consultation, reach out to us at necole@leaderonomics.com
References
- Brian Cheong 2020, Malaysia Fashion Designers Are Sewing Hospital Gowns For Medical Frontliners, Asia Tatler, viewed 3 August 2021, <https://my.asiatatler.com/society/moda-mobilising-fashion-designers-to-sew-hospital-gowns-for-medical-frontliners>
- Kong Wai Yeng and Emily Yap 2020, 10 Malaysian Companies that Give Back to the Community During Covid-19, The Edge Malaysia, viewed 3 August 2021, <https://www.optionstheedge.com/topic/people/10-malaysian-companies-give-back-community-during-covid-19>
- Sairah Ashman 2020, The Brand Identity Crisis: Making Business Purpose Fit For Purpose, Forbes, viewed 3 August 2021, <https://www.forbes.com/sites/sairahashman/2020/08/03/the-brand-identity-crisis-making-business-purpose-fit-for-purpose/?sh=439e504174ef>