A financial guru offers advice on how to make corporate brands more sustainable

A financial guru offers advice on how to make corporate brands more sustainable

A keynote speaker at ASEAN’s and Thailand’s Top Corporate Brands 2020 hosted by Chulalongkorn Business School’s Master Degree in Branding and Marketing, Dr. Kongkiat Opaswongkarn, Chief Executive Officer, Asia Plus Group Holdings Plc., shared his thoughts on the topic, “How can top management bring sustainability to the corporate brand in the long run?” at Maha Chulalongkorn Building, Chulalongkorn University.

Dr. Kongkiat started by identifying the three key components for building sustainable brand values. The first is to build the brand value not just among employees and stakeholders, but also among society and the general public. Brand value is not only created through products and services, he added, but also in other ways such as coaching for customers and the young generation so they develop the skills to do business and build their financial knowledge.

The second is to develop innovations through the application of new technology for business development. The last component is creating customer experience.

“We ask ourselves how we can ensure customers have a good experience, good memories and love our brand. A person I really respect is the founder of Starbucks, the world’s largest coffee chain. Though he has now passed away, Starbucks shops remain ideal spaces for people to sit and relax or work, and have become a third home for many.

“Warren Buffet, the well-known investment guru and business tycoon has been quoted as saying that ‘your premium brand had better be delivering something special, or it’s not going to get the business’.”

Dr. Kongkiat noted that creating brand value is extremely important. Most companies have a brand value that started with their founders. The founders remain in the minds of consumers after a decade or even a century, and people still remember some of those valuable brands. Corporate brands like Apple and Microsoft will be forever linked with personal brands like Steve Jobs and Bill Gates. 

He also stressed the importance of aligning corporate strategy with the branding strategy, citing Nike as a good example of strong brand culture. Nike is known for cutting-edge sports shoes, apparel and equipment. The main characteristics of Nike's corporate culture are talent, diversity and inclusivity.

To build a sustainable brand, the top executive must understand the brand, work with customers to get their feedback, identify what is good or bad, and strategize on how to advertise, how to deliver, how to service the brand, both internally and externally and then measure results.

Dr. Kongkiat further explained that the CEO was key to successful brand management. “He or she has to act as the Chief Brand Ambassador, create brand visibility so it is top of the mind of customers, and invest in brand building to resonate with customers across time and space. 

“In building the brand values, it is the responsibility of the CEO to humanise corporate brands, validate brand values from the highest level of authority, elevate brand values and make them more visible. The last component for success is ‘You’. You have to understand the interaction between the company’s brand values and your style if you are to succeed,” he explained.

“However, human resources are the most important factor. You have to create a corporate culture to promote the brand values in the long-run. The top executives have to choose the right persons for the job in terms of capability, attitude, adjustment and foresight because everything is dynamic. To build a house, the top executive must build a strong structure or you will not be able to create a sustainable brand.” 

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