Tag Archives: Shareholders

Your brand beyond your customer.

If you’re only focusing on customers, you’re missing a huge audience for your brand.

Avid readers of my blog know that I almost always use stakeholder to define your audience. I am pretty sure people read customer in those sentences—and are frustrated that I make it too complicated or buzz-wordy—but there is a good reason to think beyond the transaction when developing your brand strategy.

Your customers are only one of five distinct stakeholder groups that are influenced by your brand. And I am not convinced they are even the most important one in your brand strategy.

1. Customers are indeed important. To paraphrase Drucker, without them you simply would have a reason to exist. As a stakeholder audience, customers include anyone who is willing to trade their money, time or resources to take advantage of what you have to offer. They buy your product, support your cause, volunteer their support or contribute their skills. They are engaged.

Customers use your brand as an expression of their personal choice; you become a badge of honour in their lifestyle. They expect you to reward their loyalty with consistency & integrity of the promise, and trust that you will continue to feed the relationship with innovation and relevance.

Don’t let your brand strategy stop with customers.

2. Employees are next in this list, but when developing your brand strategy, I suggest this is the critical group. As a stakeholder audience, employees are the people so committed to your brand vision they want to create the experience for others. They enthusiastically bring their skills, expertise and passion to move the organization forward.

Employees—and volunteers who show up to help—are personally committed to delivering the brand experience, sharing the cause and their abilities to make the promise possible. This is the group that embodies the phrase  “authentic”, so consider this group first. When everyone else is judging or borrowing from your culture, this is the group who define it.

3. Shareholders are a different bunch. These are people who are intimately connected to the brand (through financial investment or personal relationship) and choose to be associated with the brand, yet they are not responsible for delivering the brand promise. Or perhaps these people are the benefactors of your organization, receiving help and services.

As a stakeholder audience, shareholders have to believe in the tangible and intangible value of the mission and the capacity of the organization to meet its promises. Shareholders support innovation and leadership’s efforts to pursue the vision, holding the operations accountable for decisions and activities along the way.

4. Vendors make it possible. Vendors supply you with the array of goods or services that you will need so that you can deliver your promise. As a stakeholder audience, vendors share in the commitment to deliver the brand experience. Their compromise is your compromise; their ingenuity is your value; they are your best and worst.

Vendors are links in the chain of the brand experience and share in the integrity of your brand promise. They work with you in your innovation, sharing the push to offer an exceptional experience.

5. A community embraces the brand. As a stakeholder group, the community has the choice to integrate the brand into the local culture, and most importantly, holds the brand accountable for the promises it makes.

Communities make it possible for a brand to flourish and prosper.

Most brand strategy focuses on the customer message first & foremost, hoping that other stakeholders will be able to infer their role in the mission; strategy by osmosis. It’s understandable why it matters—every organization needs to attract customers or supporters just to exist—and why it feels most important during the development of the strategy. But this approach runs the risk of being merely a temporary marketing tactic instead of a defined brand strategy.

Strong brands know that they exist well beyond the customer. Great brand strategies focus on all the stakeholder experiences, engaging everyone in a shared vision.

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