HONG KONG – Hi everyone, my name is Judy WY Wong. I grew up in Canada and now live in Hong Kong. I’m Corporate Governance Expert, in short that means I’ve helped corporations save millions of dollars. One of the ways is through brand protection. I will share the rest over the next couple of issues under the Brand Protection column right here on Her Grit Magazine.
Importance of Brand Protection
There is one thing that established organizations of the “old” world understand, that businesses of the “new” world have yet to fully appreciate. Established organizations who have been built their brand through trial and error, and withstood economic cycles; understand that ensuring that a brand lasts will take more effort than just a good product and quality customer service.
When these organizations reach a certain scale, they set aside the time and resources to protect their brand. Whether by formally creating a public relations department, or adding an extra step to their workflow by asking a qualified person to edit any content that will be going public. Or heavy handedly preventing their staff from interacting with the media. The more established organizations are highly brand conscious.
Social Media, Brand Protection
By the very fact that a brand has proven that they are fit for survival even in the current modern age of social media; they still manage risk. For instance, an established brand does not risk having their image ruined by employees who make poor decisions and put offensive comments on social media posts.
Unfortunately, or fortunately, however you may view it, social media has in some ways relinquished our ability to remain private. Hence, many large corporations actually have detection mechanisms to ensure that their employees are not trashing their corporate brand; and their job, or saying things that would reflect poorly on them as an individual. Often times, the truth is not what sells, it is the truth being taken out of context that sells. Hence, even one unwise remark can lead to dismissal from duty, or even worse a poor corporate image.
Entrepreneurs & SMEs must Mirror Big Brands
New entrepreneurs have the opportunity to take this into consideration when they launch their business. Meanwhile, small to medium enterprises have the ability to quickly maneuver themselves to include governance into their business model. By simply giving staff the appropriate level of training to bring specific concerns to the forefront, small to medium enterprises can avoid the costly price tag that comes with a tainted brand. If your client base is small, or if one client makes up a very large percentage of your revenue, what that specific client thinks of you is highly correlated with the livelihood of your business.
If however, your client base is significantly diversified, then the importance of maintaining a polished corporate image is all the more important for future referrals and introductions. Unlike the large corporations who are like wooly mammoths and can have extremely large teams of specialists to look after their brand, small and medium enterprises need to invest early into building the correct framework that will ensure the continuous expansion of the company will not be setback by the wrong type of conduct by employees.
With this said, because they have seen all the highs and lows and changes that can take place in the world. They also recognize that their brand carries value that cannot be replaced. Hence, invest in the right people to ensure that their governance structure is able to protect that brand.