If a brand wants to build social communities, capital and influence, it must become the chief celebrant of its community, not its celebrity. This simple shift in approach unlocks enormous transformative potential for brands.
Simon MainwaringRead
If a brand genuinely wants to make a social contribution, it should start with who they are, not what they do. For only when a brand has defined itself and its core values can it identify causes or social responsibility initiatives that are in alignment with its authentic brand story.
Interpretation
Brands should focus on their identity and values before engaging in social initiatives.
Simon Mainwaring emphasizes the importance of authenticity in branding. A brand's social contributions should stem from its core values and identity rather than being superficial efforts. By understanding who they are, brands can connect more meaningfully to social causes that resonate with their story and mission, ensuring that their contributions are genuine and impactful.
In practice
In a business conference about corporate social responsibility, this quote can illustrate the importance of genuine branding.
If a brand wants to build social communities, capital and influence, it must become the chief celebrant of its community, not its celebrity. This simple shift in approach unlocks enormous transformative potential for brands.
Today's consumers are eager to become loyal fans of companies that respect purposeful capitalism. They are not opposed to companies making a profit; indeed, they may even be investors in these companies - but at the core, they want more empathic, enlightened corporations that seek a balance between profit and purpose.
Transforming a brand into a socially responsible leader doesn't happen overnight by simply writing new marketing and advertising strategies. It takes effort to identify a vision that your customers will find credible and aligned with their values.
Why do eight out of ten new consumer products fail? Sometimes because they are too new. The first cold cereals were rejected by consumers. More often new products fail because they are not new enough.
A visionary company doesn't simply balance between idealism and profitability: it seeks to be highly idealistic and highly profitable. A visionary company doesn't simply balance between preserving a tightly held core ideology and stimulating vigorous change and movement; it does both to an extreme.
If you go to a venture firm, what you're doing is you're buying money from them in exchange for equity. They have a commodity that they're selling and they have to differentiate themselves.
Cutting prices or putting things on sale is not sustainable business strategy.
I may be a businessman in that I set up and run companies for profit, but when I try to plan ahead and dream up new products and new companies, I'm an idealist.
The business of America is business.
Subscribe for the occasional hand-picked quote. No noise.