How Can State-Owned Enterprises Master Branding & Marketing?
Mastering the realm of branding and marketing is a priority shared by all modern businesses. That should not change due to your state-owned enterprise status. If anything, it is an issue that means you must pay even greater attention.
Following a generic business blueprint will limit your results, which is why a tailored strategy for your type of firm is essential. Here are five issues that must feature heavily.
Show Social Responsibility
When managing a state-owned organization, you are governed to conduct yourself in a certain manner. Establishing heightened levels of professionalism should be high on the agenda. Social responsibility is an ideal starting point that can set a positive tone. This is before you’ve even launched a marketing campaign.
First and foremost, you should opt for eco-friendly endeavors. Whether it’s adding solar panels to your work premises or cutting down on needless travel doesn’t matter. The positive vibe of eco-marketing can alter the opinions of key decision-makers, as well as the public. Thus leading to increased contracts.
Social responsibility can take many other forms. Conducting your business in a way that displays a genuine level of care for the local area is particularly beneficial.
Attend Local Business Events
It’s one of the oldest cliches in the business manual, but “who you know” really does count for a lot. Therefore, learning to promote your brand in the right places is one of the most important issues of all. Not least because it’s something many state-owned enterprises tend to overlook. Local events are key.
Attending B2B trade events can offer insight into the competition. It’s also a chance to meet key decision-makers. Local business networking events are another very popular option. Or you could host your own to ensure that the attention is on your message. It is an effective route for growing key relationships.
On a side note, you may wish to look for PR coverage. This can be done through local coverage or industry-specific publications. Growing your visibility only counts when the audience is right.
Seek Professional Branding Support
By now, you’ll be fully aware of the fact that you only get a few seconds to grab someone’s attention in business. The pressure to make a lasting impression is even greater when trying to impress government operations and councils. After all, the decision-makers are often short of time.
As such, you need to express your brand, ethos, and project in an effective and clear manner. A digital agency that can perfect your brand and visuals is essential. In many cases, graphics, videos, and other visuals are far more effective than long pieces of text. Content is king, but it should be digestible.
While it is a job that can be completed on a DIY basis, it’s often better to seek outside help. If nothing else, the experts can view your firm and project proposals with fresh eyes to identify the key USPs.
As a state-owned business that relies heavily on government support and contracts, partnerships are key. However, it’s not only the links to potential decision-makers that matter. You can also leverage success by establishing bonds with other companies and individuals of power and authority.
State-owned firms can boast their rep by gaining financial backing from established experts in the areas. Likewise, gaining a business mentor can open your eyes to the most effective strategies and tactics. This can extend to a wide range of features relating to the firm’s future.
There is strength in numbers, and you may even wish to present joint project proposals with other companies. This could include state-owned enterprises or traditional firms that serve as contractors.
Focus On The Track Record
Governmental decision-makers cannot afford to take risks with their budgets. Unlike standard company owners, they are not spending their own money or company profits. So, if you want to land more contracts, you will need to prove that your venture poses the least risk to their finances.
Low costs are important, which is another reason to gain good relationships with tradespeople and suppliers. Crucially, though, you need to show that your work is built to last. Testimonials from past clients, including those from your days of serving standard businesses, are key. Embrace them ASAP.
When presenting information of past projects, use visual and facts wherever possible. This is the type of info that resonates with key decision-makers. It’ll encourage them to take your proposal more seriously.
The Final Word
The fundamentals of promoting your business in this arena are very similar to those working in normal business circles. Small modifications that are tailored to suit the purpose of your organization, as well as its target market, make all the difference. Get it right, and the road to success will follow.