Why trust predicts the well-being of any brand

Radically Transparent Published: May 27, 2020
Why trust predicts the well-being of any brand

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Episode summary

The defining issue of our time is trust. Trust can predict the well-being of any brand. In this episode, Ambassador Ido Aharoni joins host Colin Day, Managing Director of Oktopost to discuss how to keep your brand moving forward during a crisis. Put, Ambassador Ido Aharoni calls out 3 tips:

  • Be relevant to the situation
  • Maintain the highest levels of trust
  • Stay true to your brand’s purpose

The two dive into why any brand that collects and analyzes data must maintain high levels of trust, the opportunities and threats of digitalization, the rapid adaptation of technology, and why an organization’s people are the best to consult when a brand is threat forecasting.

Ambassador Ido Aharoni even discusses why, in times of crisis, where levels of uncertainty are at an all-time high, the biggest mistake that a brand can make is cutting the marketing budget.

According to Ambassador Ido Aharoni, a crisis is a time when you have to be proactive. It’s the golden rule in crisis management, and a brand must do all the things it was afraid to do.

Hot Topics of this Episode Include:

  • Why the biggest mistake a business can make is slashing a marketing budget in times of crisis
  • The golden rule in crisis management for brands
  • Why B2B marketers need to create a fan base and have the ability to communicate directly with the people who depend on their brand

Meet ambassador Ido Aharoni

Ambassador Ido Aharoni serves as Global Distinguished Professor for international relations at New York University’s Graduate School of Arts and Science. He is a member of the International Advisory Council of APCO Worldwide, a Global Ambassador for Maccabi World Union, Chairman of the Charney Forum for New Diplomacy, and a co-founder of Emerson Rigby Ltd.

Aharoni is a 25-year veteran of Israel’s Foreign Service. He is a public diplomacy specialist, founder of the Brand Israel Program, and a well-known nation branding practitioner.

Aharoni is Israel’s longest-serving Consul-General in New York and the tri-state area. He held that position with the rank of Ambassador for six years (2010-2016), overseeing the operations of Israel’s largest diplomatic mission worldwide.

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Frequently Asked Questions

Why is trust paramount for B2B brands, especially when handling data?

Trust is the defining issue that predicts a brand's well-being. For B2B organizations, maintaining high levels of trust is critical, particularly when collecting and analyzing data, as it forms the foundation of strong client relationships and market credibility.

What is the biggest mistake B2B brands make regarding marketing budgets during a crisis?

According to Ambassador Ido Aharoni, the biggest mistake a brand can make during a crisis, when uncertainty is high, is cutting the marketing budget. Instead, brands should be proactive, maintaining relevance and trust through consistent marketing efforts.

What are the core principles of effective crisis management for B2B brands?

The golden rule in crisis management for B2B brands is to be proactive. This involves three key principles: being relevant to the situation, maintaining the highest levels of trust, and staying true to your brand’s purpose, even doing things you were previously hesitant about.

How should B2B marketers leverage a fanbase during times of uncertainty?

B2B marketers need to actively create a fanbase and cultivate the ability to communicate directly with the people who depend on their brand. This direct channel is crucial during uncertain times for maintaining trust, providing clarity, and reinforcing brand purpose.

How does digitalization impact B2B brand strategy and the need for trust?

Digitalization presents both significant opportunities and threats for B2B brands. Amidst the rapid adaptation of technology, maintaining high levels of trust becomes even more critical, especially as brands collect and analyze more data, requiring strategic adaptation to uphold integrity and purpose.

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