The COVID-19 pandemic and the recent awakening of the masses to the racial injustice in America have evaporated the all between external and internal stakeholders. For companies looking to evolve and rebrand their products, it is crucial to remember that they’re making a change for internal and external audiences. To successfully make this change, companies need outside perspectives to see how the world perceives them, and to pressure test their messages.
I recently joined a panel by Best Lawyers to discuss what companies can do to successfully rebrand, as well as the role of communicators and agencies.
As communicators, we can help companies identify the story, the promises and the values represented by the company’s brand. Working in conjunction with other departments such as legal, communications professionals can bring new perspectives to the table and grow the company’s portfolio.
For companies, the increasingly socially conscious future means embracing and embodying the values that are most important for the next generation of “new participants,” as APCO IAC member Ido Aharoni identifies them. According to Aharoni, this new stakeholder base of global business operates on two very specific values—Identity and Fairness. These values guide their worldview and their filter for brand reputation. Brand must soak themselves in the values and expectations of the new era and implement a value structure to build a company and a brand that will stand the test of time.
See below for the full Best Lawyers panel on the considerations major brands are facing as they consider rebranding culturally insensitive identities.