06 September 2023
Why corporate communications now needs to be Everything Everywhere All at Once
I recently rewatched the movie that swept the awards at this year’s Oscars. A fantasy adventure about a family navigating a fractured society across multiple parallel universes.
Other than being brilliantly made, it also did a great job of capturing the mood currently running through our politics, our societies and the way we live and work: that the dots which connect us day-to-day are being simultaneously dragged in different directions by ever more powerful polarising forces.
In other words, how is it possible to be Everything, Everywhere All at Once?
Today’s business leaders, and the corporate comms departments helping to enhance and protect their reputations, might feel the same. That sense that everything is linked and nothing can be left to chance is a pretty apt description of the challenges facing corporate communications today.
For a concrete example of this, take a look at Boldspace’s first Brand Value Report, which focuses on the state of the fintech sector. In it we look at some of the metrics driving brand value and growth across 31 of the UK’s largest fintech firms.
I won’t spoil all the findings here, but as all these brands strive for our attention, our praise and our custom, one factor which stands out as absolutely critical is the need for an effective channel mix across marketing and communications.
Looking at our fintechs, four of the top 10 fastest growing brands are in the top 10 across every channel we analysed – earned, social, search, paid and web traffic. Seven of the top 10 paid spenders were also in the top 10 for branded search, while six were in the top 10 for earned media mentions.
Why does this matter?
For corporate communications functions across all sectors, the guardians of their brand’s reputation, it brings home the simple but fundamental fact that no single discipline can afford to live in a vacuum anymore.
As corporates work harder then ever to build trust and enhance reputations with customers, regulators, their own workforce, industry stakeholders and suppliers – to name a few – the only way to truly succeed is to be top of your class across the board. Having a great media presence but little to no search visibility isn’t enough. Nor is having a brilliant paid marketing strategy but an average rating on Glassdoor.
An Oscar-winning filmmaker would probably do a better job than me of using the concept behind a movie as a plot device in their blog on how the world of corporate communications is changing. I’ll let you be the judge of whether I’ve succeeded, but to me, the challenges faced by the fintechs in this report encapsulate why corporate comms now needs to be part of something bigger to succeed.
They now sit in the marcomms multiverse, alongside creative campaigns and paid spend in order to drive fame, stand out from the crowd and genuinely create brand value.
Roundtable Discussion: Fintech Brand Value Trends
Boldspace is hosting a roundtable discussion for brand and communications executives in fintech to explore the findings from this latest research into what’s driving brand and revenue growth in the fintech space.
- When? Thursday, 21st September, 8.30am – 10am
- Where? Boldspace offices, 60-62 Margaret Street, London, W1W 8TF
The event will explore:
- What drives brand value?
- Does higher spend equate to increased brand value?
- What’s the best way to generate awareness?
- How vital is creativity and a bold marketing approach, to long-term brand success?
- What’s the ideal marketing channel mix?
- What are the biggest marketing challenges ahead for fintechs?
The session is designed to give B2B and B2C fintechs inspiration on how to build game changing brands and campaigns which shift the dial.
Places are limited. If you would be interested in joining please contact firstname.lastname@example.org