Insight
Investing in brands, building corporate consensus, and linking corporate governance Are you doing it right?
The seminar "Brand Renovation for Enterprise Transformation and Rehabilitation", co-organized by Process Pro Brand, Chinese Academy of Economic Research (CAER), Chinese Financial Strategy Association (CFSA), and members of the 108th Annual Chinese Financial Summit, focused on investing in branding, building corporate consensus, and linking the five pillars of the enterprise to explore and share. The seminar attracted nearly 300 representatives from Taiwan's industry, government, and academia to sign up and participate in the seminar. President of the Chinese Academy of Economic Research (CAER), Mr. Si-Kuan Chen, and Director of the Industrial Development Department of the Taiwan Institute of Economic Research (TIER), Ms. Chou Hsia-Li, attended the seminar and shared the government's experience and resources in counseling enterprises to develop their brands.
Refuse to be an invisible champion! Make Taiwan's strength visible through branding!
Martin Kessler, Founder and Managing Partner of Process, observes that Taiwan is well positioned to develop brands, but generally lacks confidence. He suggests that when building a brand image, the first thing to do is to strive for visual "Conciseness", the more concise it is, the easier it is to get close to the customer; the other is "Consistency", the more consistent the brand is, the more reliable it is; and "Continuity", the amount of time spent betting is often directly proportional to the popularity of the brand. Companies can regularly review the effectiveness of brand management through the 3Cs.
Mr. Lee Kwok Wing, Honorary Advisor of Process Pro Brand Taiwan Branch, further pointed out:
"It takes time, budget and resources to build a brand, and the resources are mainly people, preferably bosses."
The organizer should realize that building a brand is an investment in the future. For those who do not have much marketing budget, Puro will help the exhibitors to get the iF or Red Dot Award to attract them to stay and increase business development opportunities, and take the five Scandinavian countries as an example to call on Taiwan to find its own advantages and then amplify them.
Sponsor communities that are consistent with the brand image and realize corporate social responsibility through brand management.
Brand management is often based on Corporate Social Responsibility (CSR) as the goal of sustainable business operations. Internally, CSR is part of the work of the employees and the brand; externally, it is a consistent perception. For example, Unilever's main customer base is female, i.e., sponsorship of young girls' groups, which demonstrates the consistency of the products, services, and sponsorships of the target group and the brand image.
Mr. Lee cited the Swiss Life Insurance Company as an example of a company that helps disadvantaged groups to reduce social problems and alleviate their financial burdens, while Zurich Bank cooperates with the Fair Trade Organization to promote fair trade and care for the environment.
(Read more:
Enhancing Brand Value through Corporate Social Responsibility）
Employees are the best ambassadors of a company's brand, grabbing talent! Employer branding is a matter of urgency
Taking the examples of companies in Switzerland and Taiwan, Mr. Lee illustrates how companies can further extend their employer branding after completing the overall branding, by reviewing the challenges, setting goals, establishing concepts, and then developing the design of touchpoints of branding experience between employees and the company, to promote the recognition of the company by employees, and then to create value together and attract potential talents of the new generation.
Lee pointed out that Tourism Queensland, Australia, once organized the "World's Best Businesses - Let's Go to Queensland" to encourage corporate employees to make films and win huge travel expenses, and five Taiwanese companies were shortlisted as finalists. The willingness of employees to actively participate must be the result of the enterprise's employer branding, and paying attention to internal branding experts will definitely be more effective and cost-effective than looking for advertising spokespersons.
(Read more:Attracting the Best Talent, the Secret Weapon for Businesses ......）
Wealth management is our top priority, inheriting the DNA of the family business and highlighting the glory of the century-old brand.
Taiwan's small and medium-sized enterprises are facing the challenge of succession. For brand building, it is an important issue for brand continuity to achieve further brand visibility through family governance and family integration.
Fang Yanling, CEO of the Family Governance Center of Ping An Enzi International Law Firm, who has been a professional financial and certified public accountant for 30 years and has rich experience in finance and wealth management, mentioned that according to years of observation on the global family wealth management and family branding continuity, the general mention of wealth transmission in Taiwan is mostly from the perspective of law and tax, while in Hong Kong, Singapore's centuries-old families are looking forward to the wealth management as the head of the family.
Fong Yin Ling talked about family heritage and family governance in the case of Hong Kong's “Li Kam Kee” and other centuries-old families, so that we can better understand how successful family business brands manage their family members with family ideology and education, and then manage the family's wealth, for example, Li Kam Kee not only innovates its business, but also emphasizes the family's core values. For example, “Lee Kum Kee” not only innovates in business, but also emphasizes on family core values. In particular, there is a “Super Mom Group” formed by female members of the family, which is responsible for the education of family members, and it is a model of successful family governance. In Japan, there is a 1,300-year old Bushi Ryokan that has been in the family for 46 generations, and the secret is to "accumulate virtue, not money"; in France, the Mourierz family, which has been in the family for six generations, has maintained a century-long tradition of strict family management system, with each member holding a share, and there are currently 780 heirs.
"The establishment of values and family brand identity are essential to the family legacy, and the education of future generations and a clear mechanism for succession are also the foundation for sustainability."
Get rid of the cost, create value, take off the cloak of invisibility, and go out of the world.
Ren Li-Chung, professor of marketing and director of the Global Branding and Marketing Research Center at the Department of Entrepreneurship at National Taiwan University, believes that Taiwanese companies generally lack brand building awareness. When developing a brand, enterprises should not just look at their own products and suffer from "marketing myopia"; they should observe consumer needs and rely on big data analysis to solve pain points and satisfy consumers in formulating their marketing strategies.
Ren Lizhong cited the example of the Olympic gold medal team sponsored by Jiante, although the athletes use high-grade cars that are not needed by the general public, they can still emphasize "Olympic gold medal bikes" to increase brand value; when Lexus Lexus cars were launched in Taiwan, it greatly shaped the image of high-grade cars and enhanced the brand value of the user's feelings.
"Taiwan's many invisible champions should no longer limit themselves to production costs, but rather shape the image of their products, highlight their value, and take off their invisibility cloaks to go out."
Investing in a brand can bring considerable commercial value to an enterprise. Even the same material goods can be priced twice as high due to the brand value, which can bring higher profits to the enterprise and lay the foundation for sustainable development.
