Centennials and millennials follow CEOs' opinions on issues of public interest
The rules on corporate communication are being rewritten. Reputation has become one of the most important assets that a company can have, since it is reaching a status similar to that of economic capital. A study conducted by social media agency BrandFog found that 64% of consumers, especially millennials, they consider extremely important that CEOs take positions on social issues, especially among the companies they buy from.
Expressing opinions on issues of public interest or taking a public stance on controversial and sensitive issues can pose both risks and opportunities for organizations that consider doing so, according to The Outspoken Corporation, report by Deloitte. As a result, brand trust and reputation could be strengthened or eroded. However, remaining silent on these issues could pose similar risks and lead to a crisis.
Considering this, and to help CEOs provide their points of view in a more assertive and effective way, we share some preliminary approaches before launching into sharing their points of view on social networks.
- Does the issue to be discussed align with your company's strategy? A company's strategy is based in part on its mission and values. If the topic to be addressed is not aligned with the company's values, the statements could be seen as inauthentic to the public.
- Can the company significantly influence the event? Does it have the experience and resources to make a difference? Are they willing to take some type of action to support their position? If no response is positive, but they decide to give statements, there is a risk of transmitting non-transparent communication.
- Will your consumers agree with the statements? Obviously, your company greatly reduces the risk of affecting future business if key groups generally agree with the proposed stance. However, when these groups do not agree with each other, their relative importance to your business should be carefully discussed and weighed. For example, a small segment of customers with limited power vis-à-vis their largest investor.
- It is very important that the answer to each of the questions is evaluated with the board of directors, since their knowledge of the market and its audiences will help to have greater insight into the implication of giving statements. Likewise, it is recommended that the team or its agency public relations be in charge of writing the messages, as well as generating the communication strategy that they will address. In times of polarization, the voices of leaders are precious, and it is necessary that each of their statements generate a valuable contribution to the discussion.
