The New Rules of Brand Leadership by Jez Frampton, Global Chief Executive Officer, Interbrand. 1/ Imagine and advance a vision: Leadership only exists in the eye of the beholder—the follower. People purchase, pursue employment with, and recommend brands they believe in, so if you want brand fans, loyalists, and ambassadors, you must have a vision of the future that inspires—and you must communicate it. 2/ You can’t control the conversation—so join it: In the brave new world of social media, your brand is increasingly being shaped by consumer opinion and demand—and is decreasingly under your control. 3/ Don’t wait—innovate: While some brands stay focused on refining their products and moving technology forward that is relevant to their industry, other brands take things further. 4/ Lead through design: Design-savvy brands appreciate the value of aesthetics and realize that consumers are just as drawn by a product’s visual appeal and functional elegance as they are by its specs and capabilities. 5/ Invest in people: There’s an old proverb that says: “If you are planning for one year, plant rice. If you are planning for 10 years, plant trees. If you are planning for 100 years, plant people.” If you’re going to stay ahead, you’ve got to have the best people—and you’ve got to know how to retain them. To attract talent, particularly Millennials, you’ve got to know what they’re looking for and how they judge companies, and then cultivate that kind of culture. 6/ Get comfortable with Big Data: Trendsetters like Apple, our new #1 Best Global Brand this year, and sectors that specialize in delivering extraordinary service such as hospitality, are constantly raising the bar for customer satisfaction. What is the role of leadership when it comes to creating fantastic brand experiences? Today, it is absolutely essential to gather insights and information that shed light on what customers want. 7/ Don’t dominate, co-create: Collaborative leadership is a crucial, yet poorly understood, new form of leadership. As organizations slowly diffuse across time zones and work becomes more virtual, the old corporate ladder is being replaced by a corporate lattice that allows information, development, and recognition to flow along horizontal, vertical, and diagonal paths. The lattice model makes it possible to structure work, build careers, and foster participation in more collaborative and customized ways. 8/ Make CSR strategic—and make a real difference: Another area ripe for leadership is Corporate Citizenship. With commodity prices rising, resource scarcity becoming a reality, and climate change advancing, sustainability is no longer just a money-saving add-on, it’s a key way to future-proof your business. Addressing social issues—from poverty to revitalizing public spaces—presents opportunities for your business to demonstrate core competencies and show the world how innovative and compassionate your organization really is. 9/ We are all leaders: Long before the advent of the internet, in another tumultuous time in history, Martin Luther King Jr. spoke eloquently of the “inescapable networks of mutuality” and reminded us that we are all, regardless of our position, “tied together in a single garment of destiny.” Consumers and brands, too, are now connected in unprecedented ways.
Posted on: Mon, 11 Aug 2014 20:23:13 +0000