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Category: Financial Services

Top Tips for Crypto Communications

By Arthur Instone, Financial Services

This blog explores effective crypto communication strategies during the current bull run. It covers the importance of simplifying complex concepts, knowing when to use press channels, and diversifying beyond traditional media to engage new audiences. Build trust, increase brand awareness, and connect with investors and the public through effective messaging.

“Bitcoin’s big bang moment is impossible to ignore”… a headline like this would have seemed inconceivable two years ago when FTX—a leading exchange once valued at $32 billion—filed for Chapter 11 bankruptcy, marking one of the darkest moments in crypto’s sixteen-year history.

How times change. This was, in fact, the Financial Times’ leading story on 13 November 2024. Following the rally spurred by Trump’s election victory, crypto has indeed become impossible to ignore. Bitcoin has surpassed record highs of over $90,000 as more investors flock to join the bull run and stake their claim.

Crypto is enjoying its moment in the sun and this renewed attention presents an unparalleled opportunity for crypto firms to speak to an audience of new users and investors. Against this backdrop, crypto firms need a carefully thought-out PR and marketing strategy that clearly communicates their value proposition.

Make It Relatable

The crypto industry is notorious for its complex jargon. Terms like “blockchain consensus,” “hash rate,” and “DeFi protocols” are often second nature to industry insiders but alien to newcomers.

With the current bull run set to attract new and inexperienced investors, crypto firms must ensure that their communications are clear, relatable, and jargon-free. Simplifying complex concepts and using accessible language can help demystify the industry, helping to welcome newcomers who might otherwise feel like outsiders engaging with a new asset class.

This is vital for crypto firms. By speaking in a way that resonates with non-experts, crypto firms can bridge the gap between technical innovation and mainstream understanding, driving broader adoption and helping to build a more inclusive ecosystem.

When and how to use press outreach

One of the most fundamental pillars of any communications strategy: accept that journalists won’t always be interested in you.

The crypto space is brimming with innovative products and services, from identity authentication to custody storage security. However, not every single one will capture a journalist’s interest. Product launches and upgrades, while exciting within the community, are often better suited to owned channels like blogs, newsletters, or social media rather than earned media.

Attempting to push a product-centric press release can quickly turn off journalists, particularly those at major outlets like CoinDesk and The Block, who are more interested in expert commentary, market analysis, and timely perspectives on broader industry trends.

The allure of press outreach can be tempting, but crypto firms should carefully consider if it’s truly the most suitable way to promote a piece of content. By aligning their content with what journalists are actively covering, crypto firms can establish themselves as credible thought leaders and valuable sources of insight.

Engaging audiences beyond traditional media

The bull run is attracting new entrants to the market, and crypto firms need to recognise that many of these people may not regularly follow traditional news outlets—or be interested in them at all.

If crypto firms want to engage this audience effectively, they need to focus on the channels and forums where these people spend their time—platforms like Reddit, YouTube, Instagram, and other forms of social media.

By joining these channels, crypto firms can reach a genuinely global audience through more engaging and relatable content.

This approach also allows for the sharing of information that might not be suitable for traditional media placement, such as in-depth tutorials, educational resources, and interactive content like social media polls. It will also help crypto firms cultivate deeper relationships with their users and increase brand recognition outside of their traditional follower base.

Building trust and addressing reputational challenges

As Katie Martin at the Financial Times rightly puts it, there is an undeniable feeling of “vibes and vision” around crypto at the moment. But for all the positive vibes, the crypto industry should not forget the reputational challenges it faces.

For much of its existence, crypto’s image has been marred by high-profile instances of fraud and Ponzi schemes, and is often associated with illicit activity. A lack of understanding also remains a fundamental barrier to adoption. According to Visa’s Crypto Phenomenon Report, over half of non-users cite the steep learning curve in understanding crypto as the main reason they haven’t engaged yet.

It is therefore more important than ever that crypto firms have a carefully thought-out PR strategy – underpinned by transparency, precision and clarity of message across multiple media channels – to capitalise on the market’s increasingly diverse and expanding audience.

Aspectus has been building crypto reputations since the industry’s infancy. Our team blends deep expertise in blockchain technology, fintech and capital markets, with a laser-sharp focus on staying ahead of industry trends and regulatory developments.

We understand the evolving landscape of digital assets, from upcoming regulatory shifts to market dynamics, and maintain long-standing relationships with journalists who trust us to work collaboratively in shaping compelling, timely stories.

As crypto adoption grows, it is vital that firms are proactive in building brand trust and credibility. To find out more about how Aspectus can support you on this journey, get in touch here.

Key takeaways:

Q: Why is clear communication crucial during a crypto bull run?

    A: New investors are entering the market, making it essential to simplify complex concepts and use relatable messaging to drive engagement and adoption.

    Q: Should crypto firms rely solely on traditional media for PR?

    A: No, firms should use a mix of owned, earned, and digital channels to reach more diverse audiences, including social media platforms.

    Q: How can crypto firms overcome reputational challenges?

    A: By communicating transparently, focusing on education, and using multiple media channels, firms can build trust and credibility with a broad audience.

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    Communicating ESG in Financial Services & Capital Markets

    Estimated read time: 6 minutes 

    Our recent whitepaper, Marketing ESG in 2024: Risks, Rewards & Riddles, lifted the lid on what marketeers and comms professionals really thought about ESG in their roles. In this follow-up, we take a look specifically at the global financial services and capital markets sector data from the wider research.  

    The original survey polled 418 senior marketing decision makers across the energy, financial services and technology sectors, split evenly across the APAC, Middle East, UK and US Markets. 

    Attitudes to B2B Financial Services ESG Communications: What do financial services comms and marketing professionals think?

    Professionals in this sector have a mature understanding of ESG from a communications perspective, as shown by the fact that they are the sector most likely to recognize the risk and opportunities of communicating on the topic evenly. Furthermore, they are more likely than average to see a blend of risk and opportunity in either direction. 

    This mature understanding translates to confidence when communicating: fewer professionals versus other sectors avoid the topic whenever possible or restrict themselves to the bare essentials. They are most likely to see it as an important (but not core) theme. 

    Beyond the communications function, professionals say that their organization treats ESG as an important but not strategic priority (23 percent), or a ‘nice to have’ (21 percent). Fourteen percent do say it counts among the organization’s strategic priorities, and a further 14 percent view it as core.  

    It appears that professionals rank ESG more highly as a communications theme than a business strategic priority. Is this cause for concern? Annabel Rivero, Deputy Head of Financial Services at Aspectus doesn’t think so: “The reality is that, outside a handful of businesses who provide ESG specific services, ESG is just one of the many things on companies’ plates right now. That said, with critical and ambivalent headlines around ESG abounding in the media, they know the risk of getting it wrong, so communications professionals recognize they need to treat it with outsized care as a topic.”  

    On a personal level, though few respondents in the sector profess passion across the ESG board, nearly half say they care deeply about some aspects of ESG performance or care a little. Few don’t care at all, suggesting ESG is an important opportunity for many to find meaning in their work.  

    Care and consequences: Are financial services professionals properly supported? 

    We also asked whether communications and marketing professionals feel adequately supported in B2B financial services ESG communications. In this respect, professionals feel exposed: only 37 percent believe they have a good degree or all the resources they need to do their job effectively, while 43 percent believe the opposite. Twenty-one percent even report a severe lack of resources. 

    The deficit is worse for financial services professionals: they are more likely than their peers to report both slight and severe underresourcing. 

    Is this a source of risk? Yes, but to no greater or lesser extent than for other sectors. Respondents roughly track the average when asked whether they could recall accassions where “we have had to communicate around ESG (on our organizations’ behalf or our clients’), when I have not felt the message has been fully justified or appropriate”.  

    Such scenarios introduce the risk of inadvertant greenwashing (or ESG-washing, impact-washing etc) – an injurious comms misstep. It is worrying that so many have been put in this position, especially considering the sector’s mature understanding of the risks of doing so. 

    Tim Focas, Head of Capital Markets at Aspectus,  comments: “These are tightly regulated sectors, and a common theme of the past few years has been regulators cracking down on percieved greenwashing – see the FCA’s SFD rules or the EU fund taxonomy for examples. With that in mind, it’s worrying to see so many respondents express concern on this topic, and to say they aren’t adequately supported. As these regulations begin to bite, we must hope that this number falls and communicators are given the resoources they need.”  

    Facing the future: Is ESG here to stay? 

    According to 47 percent of our total respondents, ESG is a passing trend that will disappear, or at least subside, while 28 percent think it won’t disappear, but will have to evolve. Only nine percent think ESG as we see it today will be a permanent fixture. 

    For financial services professionals, evolution is the name of the game. Only 37 percent think ESG is a flash in the pan, while 10 percent see it as a permanent fixture and 47 percent say it will evolve rather than fade away.  

    This belief may be why 23 percent of B2B financial services ESG communications professionals think that the term ESG needs a new name – but curiously the same percentage of respondents think that the term is fit for purpose, and the same again think it works but needs clearer messaging. 

    Kirsten Scott, Professional Services Lead at Aspectus interprets the discrepency: “The fact that respondents are most likely to say ESG will evolve, yet are mainly satisfied with the term itself suggests that behind all the ‘death of ESG’ headlines, what professionals really want to see is diligent, iterative improvement in how the theme is defined and applied to their sector – few communicators want to rip it up and start again.”  

    Want to know more about the practical and strategic considerations for effectively communicating your ESG efforts? Download our ESG whitepaper. 

    Key takeaways: 

    Do B2B financial services ESG communications and marketing professionals think of ESG as more of a risk or opportunity? 

    Respondents In this sector have the most balanced view of the risks and opportunities, weighting each relatively evenly. 

    Do financial services communications and marketing professionals care about ESG? 

    A significant minority do care to some extent about at least some aspects of ESG performance, though few are passionate about ESG overall. This suggests a tailored approach to ESG comms and marketing Is especially Important In this sector. 

    Do financial services communications and marketing professionals have enough resources and support to communicate around ESG? 

    Across the board, our respondents report needing greater support and resourcing to communicate effectively around ESG. Financial services professionals seem to report a greater degree of deficit, but do not report that this has translated into more risky communications strategies. 

    Do financial services communications and marketing professionals think ESG is here to stay? 

    While over a third think ESG will subside or disappear, the majority believe that ESG Is here to stay In either Its current form or following some form of evolution. 

    About the author: 

    Chris Bowman is an Associate Director at Aspectus and co-leads Aspectus’ ESG services. His experience is primarily in the energy and financial services sectors, and Chris specializes in brand strategy and messaging. He recently completed a short course on Sustainability Communication Strategies from the LSE. 

    Read more from this series:

    Communicating ESG in B2B Energy: what professionals really think 

    Communicating ESG in B2B Tech: what professionals really think 

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    Was Private Equity’s Successful Lobby for Gentler Tax Hikes a Masterclass in PR?

    By Kirsten Scott, Financial Services

    The private equity industry recently pulled off what many in the comms world might consider a remarkable feat of influence. Facing a proposed tax increase on carried interest—from 28% to a much heftier 45%—the industry lobbied intensely and ultimately succeeded in negotiating a more modest hike to 32%. This seemingly small reduction represents a significant win for private equity (PE) firms, reducing the financial burden that could have impacted their operations within the UK.

    Context: What is Carried Interest and why does it divide opinion?

    At its core, carried interest is a share of the profits that investment managers, such as those in private equity, earn when they successfully grow the value of a fund. Unlike a traditional salary, carried interest is generally only paid out after investors achieve a certain return on their investment. For PE professionals, this can mean years of working with no payout, and if the fund doesn’t perform well, there’s no reward at all.

    However, the debate around carried interest centres on how it’s taxed. In the UK, it’s often classified as a capital gain (historically taxed at 28%), which is lower than income tax rates that go up to 45%. Supporters argue this lower rate incentivises long-term investment, helping fund the growth of businesses and job creation. Critics, however, claim it’s a tax loophole that allows wealthy financiers to avoid higher taxes.

    Rachel Reeves, Chancellor of the Exchequer, faced a difficult balance when delivering her inaugural budget, aiming to fund public services while keeping the UK attractive for global investment. The carried interest tax reform was a key part of this balancing act. The British Private Equity and Venture Capital Association (BVCA) has pushed to convey the benefits of private capital to the UK economy, emphasising how it drives employment, innovation, and regional growth.

    The BVCA’s efforts gained a foothold in government thinking, which was evident in the language published alongside the Budget. It acknowledged that “carried interest has unique characteristics” and pointed out the lengthy, risk-based nature of private capital investment.

    This recognition reflects the impact of BVCA’s lengthy campaign, underscoring the importance of data, personal connection, and well-framed arguments in driving influence.

    What made this campaign so effective?

    This campaign’s success was no accident. It was a carefully crafted, high-stakes private equity communications effort that leveraged some of the most powerful tools in the influence arsenal: strategic data use, influential alliances, narrative shifts, personal connection, and headline-grabbing statements. Let’s break down how each of these tactics played out in the campaign and how they might be applied to other financial communications strategies.

    1) Leverage data for impact

    Data is a powerful tool, but in PR, the trick is using it effectively to support a broader narrative. The BVCA did this exceptionally well, transforming numbers into a story that policymakers couldn’t ignore. Economic evidence such as EY’s report showed that private equity-backed businesses contribute 6% to the UK’s GDP and support 2.2 million jobs, illustrating the sector’s vital role. Private capital supports 10% of private sector GDP, which made a compelling case for its broader value to the economy.

    The BVCA presented this data strategically to demonstrate how the tax increase could undermine economic stability and job growth. For policymakers, these numbers showed PE’s importance not only for investors but for the UK economy’s health—a crucial point in the BVCA’s lobbying message.

    2) Align with influential voices

    The power of influential voices can never be underestimated, and the BVCA leveraged this to full effect. By aligning with high-profile figures, including global financiers like Blackstone’s Stephen Schwarzman, the association created a network of allies who could advocate in influential circles. The strategy included hosting private dinners and other intimate gatherings where these figures could speak directly to key players.

    With allies like Schwarzman, the BVCA extended its reach beyond UK borders and drew on the credibility of respected names, amplifying its campaign’s impact. This approach enabled PE advocates to frame the tax hike as a policy with global implications, raising the stakes beyond just the UK’s financial sector.

    3) Reframe the narrative

    Private equity has long struggled with a perception problem. The BVCA recognised that the “profit at any cost” stereotype could derail the campaign and worked hard to reframe the conversation. Rather than hiding behind the criticisms, they shifted focus by highlighting PE’s contributions to local economies and its role in supporting innovation, job creation, and essential services like biotech and clean energy.

    Through its MP Connect program, the BVCA offered MPs a closer look at private equity-backed companies in their constituencies. The tours allowed MPs to witness the jobs and contributions these businesses bring to their communities, humanising the sector and challenging the notion of PE as an elite, disconnected industry.

    4) Connect on a personal level

    One of the BVCA’s most effective tactics was to foster personal connections between PE-backed businesses and members of parliament (MPs). They organised discussions and company tours, where MPs could witness firsthand the impact of PE in their constituencies. This direct engagement gave the campaign a personal touch, making MPs more receptive to the BVCA’s arguments.

    Creating these opportunities for MPs to connect with local business owners helped policymakers see beyond the numbers. They saw the human side of PE-backed businesses, reinforcing the industry’s value in a tangible, relatable way.

    5) Captivate your audience with powerful statements

    Throughout the campaign, the BVCA didn’t shy away from bold statements to capture attention. They issued warnings about a potential “mass exodus” from the UK to emphasise the competitive disadvantage the tax hike could create, potentially driving investment to more favourable tax environments abroad. These statements weren’t just rhetoric; they underscored the potential consequences of the proposed tax hike and kept the message in the spotlight.

    With this strong narrative, the BVCA secured multiple media appearances, including TV interviews, helping to emphasise the urgency of their message and reach a broader audience.

    What can individual brands take from this?

    Marketing teams at private equity firms should consider their brand narrative, in line with this campaign and tap into a similar storytelling approach to benefit their brands. Highlighting positive, relatable aspects of private equity investing, that resonate with a broader audience, PE firms can demonstrate their value beyond finance.

    By strategically leveraging data, building influential alliances, reframing narratives, fostering personal connections, and maintaining powerful statements, the BVCA orchestrated a campaign that protected billions in profits while shaping public perception.

    For PR professionals both in and outside of the PE industry, this campaign offers valuable insights into how complex, even controversial, topics can be navigated with strategic communication. At its heart, the PE lobby’s efforts reiterate the importance of crafting a message that resonates with an audience’s values and concerns—an essential lesson for any private equity communications campaign looking to make a lasting impact.

    Key takeaways:

    • Leverage data for impact
      PR campaigns should always anchor themselves in solid data, but it’s crucial to frame this data in a way that resonates with the audience’s priorities. Whether appealing to policymakers, customers, or stakeholders, data that demonstrates tangible value makes a stronger case.
    • Align with influential voices
      Collaborating with well-regarded industry voices or subject matter experts can enhance credibility and expand influence. This is particularly valuable when the audience or stakeholders may be sceptical; having a trusted, influential ally can help validate the message.
    • Reframe the narrative
      In any PR campaign, addressing and reframing negative perceptions can be more effective than avoiding them. Whether it’s challenging a stereotype or highlighting overlooked positives, shifting the narrative can engage a broader audience.
    • Connect on a personal level
      PR efforts are often most effective when they bring an abstract issue down to a personal level. Engaging directly with stakeholders and creating face-to-face opportunities fosters empathy and understanding, making the message more relatable and harder to dismiss.
    • Captivate your audience with headline-grabbing statements
      Compelling statements, backed by facts, can help amplify the impact of a campaign. Bold claims—especially when supported by data—make a campaign more memorable and can drive audience engagement.

    References:

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    What Do Clients Want from Their Marketing Agency in 2024?

    By Ellie Jackson, Chief Client Strategy Officer

    This blog explores the top five attributes businesses seek in a marketing agency in 2024. Learn how to embody these qualities to meet client expectations and excel in the industry.

    As September rolls in and the familiar buzz of “back to school” season begins, we’re reminded of the importance of preparation, learning, and the pursuit of excellence. Like students sharpening their skills and embracing new challenges, we at Aspectus find ourselves reflecting on our methods as a global branding, marketing and communications agency.

    We’re always looking to get better at what we do. We work hard to keep our services fresh and valuable. That’s why we often ask for client feedback – to understand what clients value the most and highlight where we should focus our attention.

    Based on the lessons from our latest client survey, I found it fascinating to compile these into the five key trends clients rank as the most valuable from their marketing and PR agency in 2024.

    Proactivity: Anticipating Client Needs

    “My coverage team has been sharp and consistently contribute to our success. They are my secret weapon.”

    Proactivity isn’t just about reacting to client requests; it’s about being innovative and forward-thinking. As students gather their stationary supplies and prepare for ‘what if’ situations like a surprise quiz, clients value an agency that anticipates their needs and is prepared to react quickly.

    We are constantly exploring new ways to help partners succeed. This mindset allows us to offer creative solutions that not only meet but exceed expectations, ensuring clients stay ahead in their respective markets across financial services, capital markets, technology, energy and industrials.

    So, what does this look like?

    Embody clients’ business: immersion into their business plan, operations, and culture allows us to understand their unique needs and objectives.

    “They are proactive and understand where our company is in its lifecycle.”

    Contingency planning: strategic planning ensures we are always prepared to act swiftly and effectively in line with clients’ messaging and goals.

    Study competitors: understanding the competitive landscape allows us to identify gaps and opportunities to exploit.

    Conduct thorough market analysis: staying abreast of industry trends helps us anticipate changes and adapt tactics accordingly.

    Identify challenges and opportunities: by keeping an eye on market developments, we can anticipate evolving conversations and stories to leverage emerging opportunities – especially when the client is unsure where to tap into.

    “Wonderful team, super proactive even when we struggled to find story angles on our side. Very professional and can rely on them to deliver.”

    Creativity: Standing Out in Saturated Markets

    In increasingly saturated markets across social channels and publications, businesses are looking for agencies that can think outside the box. But creativity can sometimes feel out of sync with the logic and rationality of business strategy. The challenge lies in carving out space for them to own and make a lasting impression.

    At Aspectus, we set ourselves apart with a special kind of creative energy, which we call ‘considered creativity’. We don’t just do creativity for creativity’s sake. Instead, our ideas are big and bold – designed to ensure organisations stand out – but firmly grounded in an understanding of target markets, audiences, and business goals. Whether it’s through a press release, product launch, or LinkedIn campaign, this guiding principle means our work cuts through the technical (and sometimes monotonous) noise.

    “I always want more proactive, creative ideas coming my way, so I encourage the team to keep their foot on the gas in that respect. They do a good job today and I want to continue this focus.”

    Most importantly, we do not want to create an echo chamber. Creativity thrives on diversity. This is why we are committed to a balanced approach, uplifting talent from different backgrounds, with unique experiences and perspectives to bring fresh, innovative ideas to the table.

    “The team has the right blend of skills to deliver communication objectives.”

    Deep Sector Knowledge: Driving Business Forward

    Importance of sector knowledge in marketing is paramount. Organisations want an agency that understands their industry inside out and can provide insights that drive their business forward.

    96% of clients see their account team as a genuinely consultative partner, and 93% say the team has a good understanding of the client’s sector.

    “I think the team have a very good understanding of the traditional telecoms market. They also seek opportunities to bridge the gap with the new technology sector by connecting stories in AI, cloud and digital technologies.”

    We strive to stand in our clients’ shoes to understand their distinct viewpoints – delving into their marketing plans and sales targets – aligning our approach with their targets. Building this kind of rapport with a client takes considerable time and effort until it becomes intuitive within account teams.

    Dedication to understanding the essence of organisations, every nuance of their industries, and the specifics of their products and services allows agencies to provide tailored, effective strategies that resonate.

    Reliability and Responsiveness: The Backbone of Agency Success

    After the intensity of a demanding first term, students get to have some much-needed rest and relaxation (R&R) during the half-term break. This rejuvenation period allows them to reflect on their performances, celebrate their successes, and plan for the future.

     Similarly, it is important for agencies to take a step back to evaluate their performance – not just to identify areas of improvement, but also to understand what is going well.

    When asked what teams do that clients value most, the resounding answers were: responsiveness and reliability. 100% of our respondents said the Aspectus account team is organised, reliable and communicated effectively.

    This combination of traits ensures we can respond quickly to media requests and other last-minute needs, without any drama. They value collaboration and a deep understanding of their unique operational processes, enabling agencies to seamlessly integrate as an arm of their marketing team.

    Each agency has its own approach to working with clients. For us, the term “client” doesn’t fully capture the essence of our relationships with the companies we serve. We see them as integral partners who keep our lights on. Recognising that each point of contact has a unique personality, workflow, and objectives, we strive to be agile and adaptable to meet their diverse needs.

    “We see the Aspectus team as an extension of our internal team – they are extremely knowledgeable about our organisation, our messaging and objectives, and we can trust them to come to us with proactive ideas which will help support our overall mission and goals. Fantastic communication from the whole team – and they are so flexible with our timings and always accommodate our often-last-minute requests.”

    That is our take on proactive marketing agency strategies 2024. Ultimately, businesses desire marketing agencies that exemplify proactivity, foster considered creativity, possess deep sector knowledge, and demonstrate unwavering reliability and responsiveness.

    At Aspectus, our commitment to these values defines our approach and drives us to excel. We’re looking forward to what’s to come in the next year, and how we can continue to push boundaries to deliver exceptional results for our partners.

    Key takeaways

    Q: What is the importance of proactivity for marketing agencies? A: Proactivity involves anticipating client needs and offering innovative solutions, ensuring agencies stay ahead in the market.

    Q: How can creativity help marketing agencies stand out? A: Creativity, especially when grounded in market understanding, allows agencies to create impactful and memorable campaigns that cut through the noise.

    Q: Why is deep sector knowledge crucial for marketing agencies? A: Deep sector knowledge enables agencies to provide tailored strategies and insights that align with clients’ business goals and industry trends.

    Q: How do reliability and responsiveness benefit clients? A: These traits ensure that agencies can quickly and effectively address client needs, fostering strong, collaborative relationships.

    Bibliography

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    From Memes to Money: How Gen Z is Redefining Marketing

    By Jamie Teh, Singapore

    From the “Snowflake” millennials to the “Strawberry Generation” Zs, it has almost become a rite of passage for each new generation to be branded with a quirky nickname. These labels often highlight the evolving cultural and social dynamics between age groups. For Gen Z, the neologism is in reference to a seemingly more sensitive generation who ‘bruise easily’ like strawberries. However, given that Gen Z will make up 27% of the workforce by next year, understanding how to bridge intergenerational gaps is essential.  

    New kids on the Block 

    In our latest Marcoms in Asia webinar hosted alongside key industry leaders, the conversation from our experts circled back to Generation Z’s entrance into the marketing and communication space. In contrast to popular sentiment, the consensus was that while generational shift might seem daunting, the way Gen Zs challenge the status quo should be seen as an advantage for the marcoms industry.

    Joyce England, senior communications director and panellist, noted that managing Gen Zs is an opportunity to learn and flex one’s leadership style. She said that if anything: “humans are naturally inclined to build connections, and a shared goal and enthusiasm for success often helps smooth over differences.”

    Juveria Samrin, VP and Head of Marketing at TerraPay, emphasised that generational differences might actually increase division. While Juat Muay, President at the Institute of Public Relations Singapore and panellist, said that it ultimately comes down to “love” and the “human touch,” which can triumph over any barrier—language, generational, or otherwise.

    As a Gen Z at Aspectus, I haven’t struggled to connect with older colleagues, nor have they been resistant to innovating or doing things differently. If anything, there is mutual eagerness to understand and collaborate, bridging perceived divides.

    Trends and transactions

    As digital natives, raised by algorithms, Gen Zs are uniquely positioned to play a key role in transforming future digital marketing strategies in the Marcoms industry. As platforms like Facebook, Instagram, and Twitter emerged around the time we were born, our deep and inherent connection to these social media platforms sets us apart from previous generations.

     In relation to shifting expectations of the new Gen Z workforce, Joyce said that marketers must adopt integrated strategies to navigate today’s unpredictable consumer information intake, in order to best capture the market share and the engage audiences. Gen Z can bring a fresh perspective and innovative edge to this evolving landscape, making them indispensable in crafting the future of digital marketing.

    A Final vibe check

    With a penchant for innovation and a flair for digital strategies, Gen Z is not just entering the workforce; we’re collaborating with previous generations to reshape it into a vibrant, inclusive, and forward-thinking arena. This promises that the future of work is not only productive, but profoundly connected to the human experience—and I am truly excited for what’s to come.

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    Communicating ESG: What do marketeers really think?

    By Chris Bowman, Energy and Industrials

    Aspectus Group has conducted new research to discover what communications and marketing professionals really think about ESG. In this blog, we offer a taste of the key findings. Download the full whitepaper here.

    ESG: love it or loathe it, the three little letters are firmly embedded in the alphabet soup that is the business communications lexicon.

    However, while most discussion of the topic (rightly) focuses on the real-world, operational applications and implications of business’ environmental, social and governance practices, it can pose as particularly thorny challenges for communications and marketing professionals.

    After all, if criticism is often levelled at companies for the gap between what they say they’re doing and what they’re actually doing with regards to ESG, then surely those people tasked with doing the saying shoulder a key part of that risk.

    Of course, companies must first and foremost walk the walk with respect to ESG performance, but they then have the challenge of appropriately communicating that performance in such a way as to avoid greenhushing or greenwashing (see our previous whitepaper for more on how [1]).

    With this in mind, it occurred to us that these voices were largely absent from the conversation around ESG, and that this ought to be rectified. Do marketeers see ESG as more of a risk or opportunity? Do they have the resources they need to communicate effectively on the topic? And, at the end of the day, do they really believe in it?

    These were some of the key questions we wanted to answer with our new whitepaper: Marketing ESG in 2024: Risks, Rewards & Riddles.  To do so, we surveyed 418 senior marketing decision makers across our core sectors (energy, financial services and technology) and regions (APAC, Middle East, UK and US).

    Here’s a taste of what they had to say.

    ESG marketing: Risk or opportunity?

    Brass tacks: is ESG more of a risk or opportunity for marketeers? The case can be made either way. On the one hand, companies that are percieved as high-performing on ESG metrics can reap great rewards. A 2023 joint McKinsey/NielsenIQ study [2] found that products in the consumer packaged goods sector making ESG-related claims “averaged 28 percent cumulative growth over the past five-year period, versus 20 percent for products that made no such claims” – and as our own Ellie Jackson would tell you [3], what holds true in consumer marketing generally applies to B2B, too.

    On the other hand, the risks of getting it wrong are obvious, and Clarity AI found [4] that ESG contoversies lead to a 2 to 5 percent stock underpeformance after six months. Needless to say, no marketeer wants that to come up in their annual review.

    So which view is predominant? Does excitement outweigh trepidation, or do the risks overshadow the rewards? In truth, the two are finely poised: 33 percent see ESG as more of an opportunity, and 32 percent as more of a risk. The devil, of course and as always, is in the detail, with differences emerging between sectors and regions – you’ll have to read the whitepaper to learn more.

    The real risks of greenwashing

    Though the ‘G’ in ESG stands for governance, the G-word for the topic – the one that looms large and casts a shadow over everything – is ‘greenwashing’.

    Greenwashing is defined by Investopedia [5] as “the act of providing the public or investors with misleading or outright false information about the environmental impact of a company’s products and operations”. More colloquially, it is used to refer to any overclaim with regards to ESG performance, whether environmental, social or governance related.

    No marketeer wants to catch a case for greenwashing, so it is concerning that 39 percent of our respondents said there had been ocassions where they have had to communicate around ESG for their organization (or on behalf of their clients) when they have not felt that the message was fully justified or appropriate.

    Let’s be clear: we did not ask respondents whether they had engaged in greenwashing, and we are not accusing anyone of willfully misleading their audiences – we have a higher opinion of our peers than that! However, what this does show is that marketeers are routinely put in positions where there is a real risk of inadvertant greenwashing, and other findings support the view that these professionals are not always given adequate support or resources to communicate on these topics with confidence.

    Is ESG here to stay?

    At the end of the day, is ESG a passing trend or a change to the way we do (and communicate about) business?

    Marketeers are clearly bought-in on a personal level, with more than 60 percent caring about ESG factors. However, that doesn’t mean they see the concept as the finished article– 47 percent think it will either subside or disappear, and only 9 percent believe it will become a permanent fixture in how businesses operate.

    However, 28 percent think ESG is more likely to evolve than disappear altogether, and this is amplified by respondents’ views when asked about the specific term ‘ESG’, and whether it is fit for purpose. While only 18 percent think the term works well, 22 percent thinks ESG marketing needs clearer messaging, and 23 percent think it needs a new name.

    There are clearly challenges for marketeers ahead.

    The bottom line

    Communications and marketing professionals as a whole seem bought into ESG, but they are not naïve. They understand the opportunities and the risks alongside the subtleties of the concept that require careful and constantly evolving communications strategies. However, despite operating at the frontline with regard to organizations’ reputational risk, they are not always supported in a way commensurate with the delicacy and difficulty of the task.

    At Aspectus, we hope to change that. Read more about our ESG communications services here.

    Key takeaways

    Q1: Do marketeers see ESG more as a source of opportunity or risk?

    A1: Overall, the answer is finely poised, but differences emerge across sectors and regions.

    Q2: Are marketeers properly supported in communicating around ESG?

    A2: Not always, it appears. And many have felt pressure to communicate messages they are not confident are fully justified.

    Q3: Does this mean marketeers are greenwashing?

    A3: It means there is a risk of inadvertently doing so. We don’t believe the data shows widespread or intentional bad practice, but more needs to be done to reduce the risk.

    Q4: Is ESG just a passing trend?

    A4: It appears not, but that there is plenty of room (and need) for it to evolve.

    Q5: Where can I learn more?

    A5: So glad you asked – download the full whitepaper for the results or get in touch and we’d be happy to discuss.

    About the author

    Chris co-leads Aspectus’ ESG practice and is an associate director responsible primarily for client strategy and content. He has worked across Aspectus’ energy and financial services teams for over a decade, and is duly immersed and well-versed in everything from ESG to the energy transition.

    Bibliography

    More from us on ESG

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    Rebranding regrets: a deep dive of Abrdn and why it absltly bombed

    By Roshika Perera, Capital Markets

    Rebrandings have become so common that many of us hardly notice one has happened. But you can be certain the public, and indeed the press, will notice when one goes wrong – and the consequences (especially for B2B firms) can be ghastly.

    It was this costly lesson that Abrdn has come to learn in the years following its widely mocked rebrand that hastened its downfall from being Europe’s second largest fund manager to falling into the FTSE 250.[1]

    In the following blog, we will perform a postmortem on the branding blunder that recently saw the company’s former CEO, Stephen Bird, take flight.

    The Abrdn rebrand: a case study

    In April 2021, Standard Life Aberdeen rebranded as “Abrdn” to reflect its evolution as a company and its focus on the future.[1] With its rebrand, the company was keen to simplify its name, modernise its image, improve its digital presence with a unique and easily searchable name, and most importantly, unify its various businesses under a single, cohesive brand.

    This effort backfired. The rebrand was widely mocked by the media and the public, with the firm’s chief investment officer Peter Branner going so far as to call the response ‘corporate bullying’.[2]

    And yet, there’s no evading the fact that much of the criticism is well-warranted. There were several reasons why the rebrand never took off, chief among them being the confusion around its vowelless name. The unconventional spelling, intended as a modern statement, is awkward to pronounce and remember, appearing more like a typographical error than a deliberate choice.

    Ultimately, the rebrand only served to deplete the brand’s equity. Before its £11bn merger in 2017, Standard Life and Aberdeen Asset Management were established names with significant brand equity. In moving away from these names, the company lost the immediate recognition and trust that came with them. While it followed in the footsteps of successful technology startups like Tumblr and Flickr, Abrdn did not quite resonate in the same way within financial circles.

    And as is the case with all ill-thought-out rebrands, it appeared to be a distraction from the firm’s more pressing business challenges. After all, it’s no secret that the merger was a disastrous experiment, clearly reflected in the firm’s sharp decline of assets under management from £505bn in 2018 to £366bn by the start of the year.[3]

    Indeed, there certainly isn’t much to smile about at Abrdn right now. But at least the company can take some comfort in the fact that it is far from the only notable company to fail so dismally at rebranding itself.

    Other infamous rebranding fails

    There are countless examples over the years of failed rebranding attempts. Listed below are five prominent examples. Do your best not to add your company’s name to this list of rebranding regrets.

    1. Gap (2010): Known for its classic blue square logo with white text, the fashion retailer introduced a new logo featuring a small blue square and plain black text. The redesign was met with immediate backlash from customers and designers, who felt the new logo was uninspired and generic. Within a week, Gap reverted to its original logo.
    2. Tropicana (2009): Tropicana’s packaging prominently featured a straw in an orange, which was iconic and easily recognisable. The company changed its packaging to a minimalist design, featuring a glass of orange juice and a new, less prominent logo. The new design confused customers and led to a 20% drop in sales within two months, prompting tropicana to quickly revert to its original packaging.
    3. New Coke (1985): Coca-Cola introduced “New Coke,” a sweeter version of the original formula. Despite positive taste test results, loyal customers rejected the new formula, feeling it was a betrayal of the brand’s heritage. Coca-Cola reintroduced the original formula as “Coca-Cola Classic” just 79 days later.
    4. Royal Mail (2001): Royal Mail, the UK’s national postal service, rebranded as Consignia, aiming to reflect its diversified services beyond mail delivery. The new name was widely ridiculed, and the rebrand failed to resonate with both employees and the public. Just over a year later, the company reverted to Royal Mail, having spent millions on the failed rebranding effort.
    5. RadioShack (2009): RadioShack, a well-known electronics retailer, tried to modernise its image by shortening its name to “The Shack.” The rebrand did not address the core issues facing the company, such as competition from online retailers and outdated store concepts. As a result, the company eventually filed for bankruptcy in 2015.

    These examples illustrate how critical it is for companies to thoroughly understand their brand identity and customer base before undertaking a rebranding initiative. So, what steps should firms take to prevent a rebranding failure?

    Five key steps to take before rebranding

    1. Conduct thorough market research: understand the current market conditions, industry trends, and competitive landscape. Gather feedback from current and potential customers to understand their perceptions, needs, and preferences.

    2. Define clear objectives: things will go wrong with a rebrand if the reasons behind it are not properly defined and purposeful. So, whether it be reaching new markets, differentiating from competitors, or updating the brand image, be sure to clarify the reasons behind your rebrand.

    3. Develop a rebranding strategy: redefine the brand’s positioning statement, which includes the brand’s mission, vision, values, and unique selling proposition (USP). Identify and refine the target audience to ensure the rebrand resonates with the right demographic.

    4. Engage stakeholders: Ensure all employees and internal stakeholders are informed, involved, and supportive of the rebrand. Communicate with key partners, investors, and other external stakeholders to maintain their support and understanding.

    5. Listen to the experts: at the company’s AGM in 2022, Abrdn chair Douglas Flint boasted that the firm’s rebrand was an internal creation: “We had it benchmarked by one of the world’s leading brand advisory agencies and they introduced alternatives that certainly were not as good.”[1] In hindsight, it may have served the company better to listen to experts with specialised knowledge in executing successful rebrands.

    While Abrdn’s rebrand is a cautionary tale, it should not put firms off from embarking on rebranding themselves when it’s truly needed. With a well-thought-out strategy, a rebrand can be the right move to increasing a company’s fortunes.  

    Key Takeaways

    Q: Why did Abrdn’s rebranding attempt fail?

    A: Abrdn’s rebrand failed due to its confusing name, loss of brand equity, and misalignment with market expectations.

    Q: What are some other notable rebranding failures?

    A: Notable failures include Gap’s 2010 logo change, Tropicana’s 2009 packaging redesign, Coca Cola’s introduction of New Coke in 1985, Royal Mail’s rebrand to Consignia, and RadioShack’s rebranding to The Shack.

    Q: What steps can companies take to ensure a successful rebrand?

    A: Companies should conduct thorough market research, define clear objectives, develop a comprehensive rebranding strategy, engage stakeholders, and seek expert advice.

    More From the Industry

    Why do companies rebrand? Find out who did it right and who missed the mark

    The 10 Most Successful Rebranding Campaigns Ever

    The lessons you can learn from these rebranding fails

    Bibliography

    [1] https://www.investmentweek.co.uk/analysis/4326472/abrdn-journey-europes-largest-fund-manager-ftse-250

    [1] https://www.abrdn.com/en-gb/corporate/news/all-news/sla-to-become-abrdn

    [2] https://www.fnlondon.com/articles/abrdn-name-change-corporate-bullying-stephen-bird-20240408

    [3] https://www.investmentweek.co.uk/analysis/4326472/abrdn-journey-europes-largest-fund-manager-ftse-250

    [1] https://www.investmentweek.co.uk/analysis/4326472/abrdn-journey-europes-largest-fund-manager-ftse-250

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    Cutting through a crowded room: The power of thought leadership in the Middle East

    By Astrid French, Head of Middle East

    In rapid-growth markets, effective B2B communication is crucial. This blog explores the role of thought leadership in cutting through the noise, engaging prospects and integrating it with marcomms strategies to build brand trust and drive sales.

    In rapid-growth Middle East markets, more brands than ever are vying for a limited number of communications slots.

    But wait, aren’t we beyond the limitations of traditional print media, where you are literally competing for column inches? Don’t digital channels (be it online publications, a LinkedIn feed or email marketing) mean space isn’t limited in the same way?

    Both of those statements are correct. However, it would be a mistake to conflate the limitless possibilities of digital platforms with limitless interest from prospects in business-to-business (B2B) communications. Though digital channels don’t have a slot restriction, your prospects do. The amount of information they are willing to consume, and more importantly show interest in, has a cap. And that cap is being encroached upon by your competitors.

    Consider these regional examples: In Abu Dhabi, the number of AI companies registered grew at a compound annual rate of 67% between 2021 and 2023. In Dubai, the DIFC broke records in 2023, with a new registrations growth rate of 34%. The Kingdom of Saudi Arabia saw a 78% uplift of new commercial registrations in the second quarter of 2024 compared to the same period of the previous year.

    If you think about all of these firms, plus the vast number already present in region, the room you are trying to command attention in is suddenly a lot more crowded. To compete effectively, avoid information overload and capture attention, you need to give people a clear reason to listen and engage. That brings us to the art of conversation.

    The art of conversation

    To effectively engage prospects, talking at them and hoping they’ll listen is unlikely to have the desired effect. Rather than ‘talking at’, it is important to ‘engage with’. This is where thought leadership becomes one of the most valuable assets in the communications toolbox. It allows us to think about their challenges – what keeps them up at night? And their opportunities – what makes them excited about the future? Putting your audience’s reality at the heart of your communications transitions your brand message from inward-looking to partnership-oriented. This is critical to building trust and preference as it creates opportunity for stand-out while developing a reason to believe and buy.

    Thought leadership also humanises communications, platforming leaders and experts in a relationship-oriented market that is deeply influenced by the vision and ambition of leaders in respective fields.

    But I need sales, please.

    There is a common misconception that thought leadership is a nice-to-have that doesn’t contribute directly to sales. However, with many B2B industries’ sales cycles evolving, it simply couldn’t be more important. The journey from awareness to consideration to conversion is longer than ever before and a one size fits all funnel has been replaced by complex routes back and forth from each stage.

    Longer consideration phases, expanded buying committees (all of whom need to be influenced), and at times, extended phases of ‘dormant’ prospect behaviour present a challenge for brands. Waiting to put all efforts behind a single push to a group of prospects over a three month period will at best, miss vital awareness and consideration building, and at worst, miss-time the sales cycle and be left out in the cold until the next arises.

    This is why consistent and interesting thought leadership is so essential. We need to engage prospects in both ‘buy’ (where you have the opportunity to sell) and ‘non-buy’ (where the opportunity is to build brand awareness, understanding and reputation to put you top of the RFP list) modes. It is crucial to authentically build the perception and reputation of a brand, ensuring when you build the sales house, you have foundations in place to keep it steady.

    Integrated efforts

    Thought leadership, of course, is one tool in the marcomms toolbox. Its magic lies in the ability to inject it across all types of communication, from a by-line in a leading publication, to a visionary annual report, or an email blast spotlighting your experts.

    The best thought leadership is done as part of an integrated marcomms programme. Delivering powerful expertise in combination with tactics such as news announcements, effective product marketing and sales activity, to name a few.

    Want to discover your thought leadership potential? Get in touch.

    Key takeaways

    Q1: Why is thought leadership essential in the Middle East?

    A1: Thought leadership helps brands stand out in a crowded marketplace – which we see in rapidly emerging Middle Eastern markets, engaging prospects and building trust by addressing their challenges and opportunities.

    Q2: How does thought leadership contribute to sales?

    A2: Thought leadership influences long and complex sales cycles by maintaining consistent engagement, building brand reputation, and preparing prospects for conversion.

    Q3: What is the role of thought leadership in integrated marcomms?

    A3: Integrating thought leadership with other marketing communications tactics enhances its effectiveness, ensuring a cohesive and powerful brand message across various channels.

    About the author

    Astrid French, based in our Dubai office, leads Aspectus Middle East, and is responsible for overseeing its direction, fostering its growth, and cultivating strong client relationships. Her experience spearheading global, integrated communications programmes is layered with a deep understanding of strategic nuances in the region. Astrid has worked with a range of clients, from energy supermajors and early-stage tech investors, to prestigious private banks.

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    Whitepaper – Marketing ESG in 2024: Risks, Rewards & Riddles

    Our latest ESG report examines the current communications landscape and the extent to which ESG factors are considered a strategic priority – both for communications and wider business plans.   

    In March 2024, we surveyed senior marketing decision makers working within the financial services, energy and technology sectors across the US, UK, Middle East and APAC. 

    The report examines the practical – and strategic – considerations for effectively communicating ESG efforts, alongside the more conceptual challenges with the specific ESG term and its direction for the future. 

    Download our whitepaper and gain insights into:

    • How far ESG considerations have been embedded into communications and wider business strategies 
    • Whether the term “ESG” is fit for purpose 
    • How pervasive the risk of inadvertent greenwashing activity is 

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