Why Corporate Social Responsibility Matters

The Financial Times defines corporate social responsibility (CSR) as “a business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders.” In the time of COVID-19, the way an organization responds to the crisis will be remembered for years to come. Yet a recent Harvard Business Review piece states that “Coronavirus is putting CSR to the test.”

Companies can leverage corporate social responsibility tactics to cultivate awareness as a leader in the Las Vegas community, as well as drive new business. By giving back to the community, team members can have an outlet to work together towards a common goal and—more importantly—the company can help those in need. This can improve public perception, cultivate new and stronger relationships, and drive client loyalty. And even in these troubling times, a business can still have and execute a strong CSR strategy.

CSR Tactics for Consideration
Crafting a community outreach plan does not need to be a complete shift in strategy (or even a game-changer in this new normal), and it can be straightforward to implement and continuously execute. The below tactics can be part of any company’s CSR initiatives:

Pro-Bono: For professional services providers (like law firms), pro-bono services is one of the first things on the list. Can your company offer a value-added outcome to members of the community as a free service?

Non-Profit Board Membership: Do any of your employees participate as members of local boards of directors? If so, there are specific ways to highlight this involvement. Think of including in your social media content, as well as supporting those organizations as a team. (Some extra benefits? Your board member will feel the added support from your business, and your team will have a special connection to that non-profit.)

Volunteering: Your employees and their families most likely are already doing this on their own. Could you collect and document the number of hours spent volunteering each month or possibly consider an office-wide hour of volunteering each month?

Sponsorships: Consider selecting an organization or charitable field that your entire team can get behind. When asked for a donation or support, you can choose to only contribute to organizations in your determined area. Why not craft a named scholarship for university students in your industry, support a health-based organization (like American Heart Association), help survivors (via a community organization like the Rape Crisis Center), or utilize your business acumen (with a group like Junior Achievement)?

Inspire Innovation: Do you have a 3D printer or other capabilities to make products that can help in this pandemic? Many examples of individual and company ingenuity are cropping up daily. Encourage the creative minds on your team to come up with innovative ways to help the community.

Community Involvement: Programs like Leadership Las Vegas or Leadership Advance allow executives and younger leaders (respectively) to develop and become stronger community leaders. Would one of your team members find value and grow from such an experience? All Leadership Foundation programs from the Vegas Chamber help leaders and the organizations they represent become more entrenched in Southern Nevada.

As we navigate COVID-19, it will become increasingly imperative to support and lift up others in our community. Some of the above suggestions involve a budget line-item; others are more of a time-related nature. Now is the perfect opportunity to review—or create—community outreach strategies as we work together to create a thriving economic future. I send my wishes for good health and strong recovery for the Las Vegas that we all love.

This post was originally written by Shan Bates-Bundick for the Vegas Chamber’s May 2020 Business Voice magazine. Click here to view the original article.

If at First You Don’t Succeed, Brand Again.

The American Marketing Association defines brand as “a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.” Your brand’s essence is so important when differentiating your offer to your target audience. And gaining the trust of the group you need to reach is imperative to continue to build a solid, long-term relationship.

In the 2019 Most Trusted Brands Report, the United States Postal Service was determined to be the most trusted brand in the nation. Additionally, Amazon, Google, PayPal, and The Weather Channel rounded out the top five brands in this report. Each of these companies has expanded and revamped its brand over the years; let’s take Google as an example.

Brands Do Evolve.
Two Stanford University students created what is now the world’s most-used search engine in 1996. According to HubSpot, Google’s algorithm was initially called “BackRub,” as its search engine searched through the internet’s backlinks. And while a logo is a component of an organization’s entire brand, it says a lot about the organization. Behold: an early Google logo and the logo as of press time (sources: Digital Trends and Google). Imagine if Google didn’t constantly evolve its brand.

In our fair city, two of the most recognized brands recently went through updates of their own. The Las Vegas Convention and Visitors Authority recently debuted a new slogan to updated “WHHSH” with “What happens here, only happens here.” This famous tagline is very much a part of the overall brand that the LVCVA portrays about the uniqueness of visiting Las Vegas. With the new slogan came an overall marketing strategy that encompasses our special, world-class destination.

Also, our local chamber of commerce is now referred to as Vegas Chamber, reflecting the values that this organization holds true with a brand very focused on the “Vegas-ness” of the city. This author appreciates the vivid and clean design of the new logo and associated brand, which inspired the theme of this month‘s column: what are some best practices for planning and executing a rebranding campaign?

To Rebrand or Not to Rebrand…

When considering a rebrand, several factors come into play within the strategy and debut of the new or enhanced brand:

Research. Before undertaking a rebrand, market research is crucial. Questions like “Does my target audience strongly identify with my current brand?” and "In moving my brand essence in a different direction, will this group still recognize the value of my current brand?” It would even be beneficial to know if the target audience thinks a rebrand is needed; focus groups, surveys, and data would be helpful at the start of the process.

Differentiation. Again, a brand identifies how a good or service is distinct from others. When considering a rebrand, how can you truly showcase your value proposition to differentiate you from others? Having this strategic intent of setting an organization apart is imperative. And it’s also important to share this compelling brand story and value proposition in the right mix of both traditional and digital channels.

Communication. The average human needs to encounter information multiple times for it to make an impact. In communicating a new brand, it is critical for those within the organization to understand the reasoning behind it and how it will impact the day-to-day business. After the internal strategy comes external communication. When Southwest Airlines refreshed its brand in 2014, it was still consistent with the airline’s message of low fares, ease of travel, and even fun. As the rollout took place, the rebrand felt as though it were still in the same brand family and value proposition.

And that should be at the heart of any brand, whether it’s creating a new brand from scratch or rebranding a classic company.

This post was originally written by Shan Bates-Bundick for the Vegas Chamber’s March 2020 Business Voice magazine. Click here to view the original article.

A Love Letter to the Marketing Plan

Happy February! As my valentine to you, I wanted to chat about marketing planning. Many traditionally finalize marketing budgets—and hopefully, marketing plans—in the previous quarter. However, if ending the year strong, the busy holiday season, and settling into the new year took time away from your planning process, there is no time like the present!

Before we go into some of the essentials of crafting a strategic marketing plan, I wanted to rehash some of the themes in my past Business Voice articles. Think of these pieces as conversation hearts to munch on while you’re spending time on your communication initiatives and goals for the year. Remember:

• The American Marketing Association defines marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

• Marketing is all about the mix—the right grouping of both digital and traditional communication activities—that is unique to every organization.

• A clear value proposition is invaluable for showcasing what your organization does better than anybody else.

Components of a Strong Marketing Plan

Even when a client has an existing marketing plan, I like to make sure some key pieces are in place. These include documenting essentials such as brand look and feel, as well as key messages to defined target audiences. The basis of the key messages (which can include taglines) is built on the foundation of a clear value proposition.

Once the brand essentials and value proposition are solid, then the annual marketing plan begins to take shape. What is the goal of your organization in this period? Is it reaching more customers? Is it promoting your mission to a wider audience? Whatever this objective may be, it is imperative to align it with the marketing plan. And the good news? The marketing plan is a living document. As the year progresses, goals are met, and strategies evolve, so does the plan.

So, you’ve determined your business problem/opportunity and the desired outcome. A strong marketing plan will have documented solutions; these are the tactics within the plan. For example, if creating awareness of your product is a big annual objective, the strategies within the plan will document the tactics, tools, and channels to increase the knowledge and credibility of the solution.

Speaking of channels, there is a wide variety of communication media available to share your brand message. Within your marketing plan, you’ll want to outline the planned use of both digital and traditional channels, such as website, blog, video, social media, email, out of home (also known as outdoor media, like billboards), print, television, etc. And within each piece, consider the metrics to measure success. These include Google Analytics, engagement numbers, impressions, shares, and open rates.

Taking the time to outline marketing initiatives may seem like a time-intensive endeavor, but it is a critical step in meeting annual organizational goals. With practice and leveraging it throughout the year, the marketing plan is at the heart of any strategic planning and can be essential in growing your business.

This post was originally written by Shan Bates-Bundick for the Vegas Chamber’s February 2020 Business Voice magazine. Click here to view the original article.