In your own words how would you describe the masterclass?
I found the session very informative and helpful – and very topical given the fact that so many categories are being disrupted by new brands or brands that have radically evolved their market position and proposition. Trust is the very essence of branding – without it, brands quickly go out of business. The origin of brands were to create trust in the product or service to the extent that consumers believed in their promise and these beliefs were matched by the customer experience consistently over time (and even exceeded at times).
Why did you decide to attend the masterclass?
The value of trust in business has become a key point of discussion at Board level in many businesses. It is linked to company reputation and the sustainability of an organisation’s business model and investor confidence in its ability to sustain future income flow; it is also linked to brands and organisations having a broader social purpose than simply shifting inventory at any expense; and it is focusing the minds of policy-makers and regulators to ensure that customers and society at large benefit from brands and their responsible marketing. So it comes an am important inflection point in the dialogue around what great marketing can add to any business to create a win/win outcome for all stakeholders, and most especially for customers.
What aspects of the masterclass did you like?
Some powerful insights and models were shared to help participants really question how they approach this topic in a strategic manner. I came away with a couple of simple tools and ideas that are really relevant to discussions happening right now. Also getting insights from peers in other industries was really useful to highlight that many brands share similar challenges and opportunities in this area.
Would you recommend the masterclass?
I would certainly recommend this masterclass to others. I can’t think of a single category where trust is not being challenged explicitly or implicitly on multiple fronts – food & beverages, social media & media in general, entertainment & leisure, healthcare, retail, telcos, technology, automotive, etc. And where trust becomes challenged, it creates opportunities for others to gain competitive advantage and for the category incumbents to be leapfrogged or forced into reactive mode.
How will you incorporate your new found knowledge into your current role?
I think the strategic framework can be very useful to engage senior stakeholders across different functional areas within the business – everyone can see the positive and negative impact management decisions and actions can have on brand reputation and can relate to the case studies used to demonstrate good and bad practice. What customers believe about a brand or a company (relative to competitors) is what matters so discovering what’s in customers’ minds and hearts is always a good place to start – and how these perceptions can be addressed in the future!
Is there anything else you would like to share about the masterclass?
A useful investment of time to learn more about a highly relevant topic!