Incorporating stakeholders into your brand platform

Identify the many stakeholder groups that affect your company and its corporate brandA major aspect of a brand platform, the document that will guide the brand-building process, pays identifies those to be influenced by the brand.

So, you should enumerate and define the various stakeholders who are important to the success of the brand.

Usually the most important group will be prospects and customers for your products and services. However, some companies that emphasize branding their products may feel their corporate brand is of minor importance to the customers. In that case, distributors and retailers may be of more importance to a corporate brand. Or perhaps investors and those who influence potential investors are a major stakeholder group.

A company may want to identify several almost-equal stakeholder groups concerned with the corporate brand, and other groups for each branded product or service.

Assuming the development of a corporate brand, there are definite stakeholder groups that might be of importance in this endeavor. Here is a list of those to consider:

The media
Distribution chain members
Potential joint partners
Investment advisors
Potential employees
Governmental agencies
Industry participants
Local neighbors

I suspect the list is longer than you had anticipated. And I might have even forgotten one or two.

Look at each group and prioritize them. Then analyze the structure, concerns and needs of the top five groups. Look for similarities as well as differences.

I’d profile each of the top five based keeping in mind that each profile will be based on different criteria. Once all five profiles are complete, commonalities and differences should be explored. Once this is done, another section of your brand platform is complete.

In future blogs I’ll get more specific about the types of information required for each of the major groups.

Martin Jelsema

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