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Category: Professional Services

How to capture the attention you don’t deserve: rethinking B2B marketing for complex industries

By Ellie Jackson, Chief Client Strategy Officer

This blog explores why some traditional B2B marketing tactics are overused in complex sectors and provides strategies for capturing attention during dormant phases. Learn how to build long-term brand affinity and become top-of-mind when your prospects are ready to buy.

It’s an uncomfortable truth: in the world of niche, high-value B2B industries, your prospects are probably not actively looking to buy from you right now. They’re probably not even close. If you’re selling complex software systems or solutions in sectors like capital markets, financial services or energy and industrials, your audience might only be in the market for your product once every five years, if that.

So, why on earth would they give you their attention the rest of the time?

The simple answer is they won’t – unless you earn it. This post will dig into why traditional B2B marketing tactics can fall flat outside of active buying cycles and explore what you can do to make sure your brand is front-of-mind when your prospects do switch from the c.95% “not interested” majority, to the c.5% who might actually be ready to do a deal.

Less sales funnel, more dormant volcano – understanding your audience’s buying cycles

The classic B2B marketing funnel is well-understood: awareness → consideration → preference. But for highly specialized B2B sectors, it’s more of a dormant volcano than a funnel. Your target audience is active, engaged, and potentially in-market for a tiny sliver of time, and dormant the rest. And during that dormant phase, no matter how persuasive your sales pitch or how detailed your product white paper, most of your efforts will bounce right off.

The temptation is to stick to the script and double down on rational, sales-focused content in the drive for leads: case studies, technical specifications, endless webinars. But ask yourself: when was the last time you watched a 45-minute webinar about a tool you weren’t planning to buy? Or read a case study about a solution you’re not actively considering?

Capturing attention in the dormant zone

The key is to rethink what capturing attention means. It’s not about trying to bounce someone down the funnel when they’re not ready. It’s about offering something valuable in a way that’s memorable, useful, and maybe even a little unexpected.

Since they don’t need your solution right now, you’ve got to create content that actually delivers intrinsic value. Something they’d engage with even if they have no intention of buying today. In other words, the type of content that doesn’t directly sell anything.

But how does that drive ROI? It doesn’t… well, not immediately (and not in the next quarter’s measurement of that marketing effort). But that’s okay, because they were never going to convert right now. You’re optimizing for memory. And in a world where somewhere around 95% of your audience is currently not in market, getting your brand to stick in their minds so it’s there when they do become active buyers is a massive win.

Four Strategies for Capturing Dormant B2B Attention

So how do you capture the attention you don’t deserve? By being genuinely interesting, relevant, and even entertaining.

1) Usefulness Over Salesmanship

Content that’s directly related to your product features or benefits has its place. But outside of buying cycles, it’s as compelling as a dry sales pitch during happy hour. Instead, create content that tackles the problems your target audience cares about, even if they’re tangentially related to your product.  

Think interactive tools that help them benchmark industry metrics, or short, insight-packed research papers that shed light on an industry trend. Not only do these formats provide value, they also position your brand as an ally in solving their problems, not just another vendor pitching a tool.

2) Surprise Them (In a Good Way)

B2B marketing has a deserved reputation for being, well, boring. When everyone else is playing it safe, the occasional curveball can be enough to make your brand memorable. Of course it still has to feel true to your brand, but a touch of humor, a well-placed infographic, or even a creatively animated explainer video can stand out in a sea.

For instance, how about a brief, clever explainer video breaking down a complex regulatory change your audience might be grappling with? If it’s smart, relevant, and shareable, it might just get forwarded around their team. Even if they don’t need your product right now, they’ll remember who made it easy to understand.

3) The Trojan Horse: Thought Leadership

Thought leadership is an overused buzzword. But when it’s done well, it’s one of the few things that can draw in even the most disinterested audiences. Remember: the best thought leadership doesn’t have to sell anything at all – and indeed if it’s intended for media, it probably won’t get published if it does. What it should do is offer a unique perspective or insight that your audience can’t find elsewhere – ideally coupled with some sort of creative hook – or reference to popular culture – to catch the eye.

4) Take the contrarian view

Just like good music, good marketing is about tension and resolution. Is there a myth that needs busting, or a long-held belief that needs taking apart? Not only does this sort of content get people talking, and sharing, but also positions your brand as a thought leader willing to take a stand.

From Forgotten to Front of Mind

The goal is simple: when your dormant buyers enter the market, your brand should be the first one that springs to mind. That means building a connection now, long before they’re ready to sign a purchase order. It’s about playing the long game—creating moments of genuine engagement that build positive associations and, ultimately, brand affinity.

Because when your prospects finally are in market with intent to buy, that carefully constructed, rational white paper will be invaluable. But until then? Capturing the attention you don’t deserve means knowing when to turn down the hard sell and just offering up content that’s too good to ignore.

And if you’re still unsure how to do it, let’s chat. Our team specializes in turning passive attention into powerful brand recall—even when nobody’s buying.

Key Takeaways

Q1: Why do traditional B2B marketing strategies fail outside active buying cycles?
A: Traditional tactics focus on immediate conversion, but in niche sectors, most prospects are dormant. Engaging them requires content that offers value beyond a sales pitch.

Q2: How can you capture attention when prospects aren’t in-market?
A: Provide useful, unexpected content that aligns with their challenges, such as interactive tools, thought leadership, or creative formats like videos.

Q3: What’s the benefit of engaging dormant audiences?
A: Building memory and brand recall now ensures your brand is the first they remember when they are ready to buy, making you the preferred choice.

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Singapore Fintech Festival: How to thrive, not just survive

By Maddy Stichbury, Financial Services

Planning to attend Singapore Fintech Festival in November? This blog covers our top recommendations to make the most out of the world’s largest fintech event.

Singapore has long-since secured its position in the Fintech Hall of Fame. Thanks to a combination of government backing, a favourable regulatory environment and world-class tech infrastructure, Singapore has flourished as a global fintech hub. In fact, the city-state rivals other fintech giants like the US and UK in term of fintechs per capita

It makes sense, therefore, that the world’s largest fintech event takes place here every year, an accolade that comes with unique challenges and opportunities. So, if you’re planning to attend Singapore Fintech Festival, here are my top five recommendations for surviving – and thriving – at this massive event.

1) Comfortable attire

The event truly is the world’s largest fintech event. With such a vast exhibition space, seven stages and a huge number of booths, you can easily walk over 10 kilometres in a single day. Comfortable shoes are a must! However, while Singapore is renowned for its hot and humid climate, the festival venue will have aggressive air con to cool the 60,000+ attendees. Don’t let the chill catch you out, bring a jacket or extra layers to stay comfortable.

2) Skip the queues

A little planning goes a long way. On the first day of the festival, ticket pickup can be tricky if you’re not prepared. My advice? Arrive early or late to avoid the initial rush on day one. Similarly, don’t schedule any key meetings for the early hours of the first day. The odds of you, or your contact, getting caught in a queue are high.

3) Getting around

A common saying you hear when visiting Singapore is that you can get anywhere in 20 minutes. That might be the case – but that reality does not extend to this venue! The location of the event, plus the volume of attendees, means it could well take you longer than 20 minutes, so plan accordingly. Then, at the end of the day, have a backup plan for getting home when taxis become gold dust. Singapore is renowned for its public transportation so consider this option too.

4) Maximise your experience

Singapore Fintech Festival offers so much – the seven different stages will have you planning your schedule like it’s Glastonbury. But don’t miss the brilliant opportunity to meet leading journalists in this space, which can lead to valuable media coverage. Use the event to generate marketing collateral, whether that’s posting to your LinkedIn or for inspiration for future ad campaigns.

Lastly, the networking opportunities are unparalleled. The event brings together industry leaders from all over the globe, so make sure you carve out time to tap into the new connections you can make.

Packing, planning, transportation – check. The final thing:

5) Schedule a meeting with Aspectus while you’re there

Attending industry events like Singapore Fintech Festival is an important strand of a fintech communications plan, but are you doing everything you could be to build your brand?

Aspectus is a global brand, marketing and communications agency with skin in the fintech game. We’ve supported fintech brands of all sizes to achieve their strategic goals. So, whatever yours are, let’s have a conversation at Singapore Fintech Festival 2024.

You can reach Maddy at maddy.stichbury@aspectusgroup.com

Singapore Fintech Festival takes place on 6th – 8th November 2024 at Singapore Expo.

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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.

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How to grow your business in Asia

By Louise Veitch, Head of South East Asia

This blog explores strategies for growing your business in Asia, emphasising the importance of local presence, networking, understanding cultural nuances, and effective marketing & communications activity. Learn how to navigate the unique challenges of the Asian market to achieve sustained success.

Many people may not know this, but Julia Donaldson’s classic children’s tale The Gruffalo took inspiration from a much older Chinese folk tale, The Fox and The Tiger. It’s a tale worth reading and one that comes to mind when I reflect on moving to Singapore two years ago to expand the Aspectus office here.

The short premise of the fable is, like the mouse in Julia Donaldson’s book, a fox who is captured by a hungry tiger, manages to escape becoming dinner, through the sheer sense of determination and believing in himself in a testing and terrifying situation!

While I wouldn’t compare moving to Singapore with ending up in a tiger’s lair, I would be lying if I said it wasn’t challenging at times. However, it’s also been an incredible journey so far and from the tests we’ve encountered, I – and the business here – continues to go from strength-to-strength thanks in most part to the fantastic team and client base we are assembling out here.

When we first opened our doors in Southeast Asia, Aspectus’ presence here looked very different. With limited people on the ground the business wasn’t growing nearly as quickly as our US, UK & Europe counterparts. Fast forward to today the Singapore office has quadrupled in size and the agency also has a presence in Thailand, Vietnam, China, the Philippines & Indonesia.

Success and timing often go hand in hand, so Asia’s booming economic landscape, which is expected to far outpace global growth this year, has helped to slick the wheels. We started to invest in our presence and our people in this region just as our core clients were realizing the huge opportunities that Asia presents.

However, timing isn’t everything and while we can’t deny any absence of growing pains, I wanted to share some of our learnings for getting to where we are and manifesting Aspectus’ own ‘inner fox’.

Be on the ground

In our highly connected post-Covid world, the value of being on the ground can often be overlooked without consequence – but not in Singapore. Having local experts who understand the region’s nuances is crucial for effectively communicating with and selling to your target audience.

The same goes for the value of being in the same time zone as the people you want to do business with. With only a two-hour cross-over for the UK and no (sociable) business hour cross-over with the US, being on the ground is essential for making things happen.  

The importance of networking in Singapore

Thanks to Zoom or Teams, it is not out of the question to have clients in London & New York that you’ve never met in-person. However, in Asia the culture of face-to-face meetings has survived the pandemic and although what you do is important, who you know is crucial. In-person industry events are essential for getting face-to-face. In Singapore there are industry events every week, but if we had to recommend our top 5 for our specialist sectors, it would be Singapore Fintech Festival, Tech Week, Token 2049, Asia Clean Energy Summit, & Money20/20 Bangkok.

Good work leads to more work

It’s almost always the case that doing good work leads to winning more work, but never has this been truer than in Singapore and the rest of Asia. Recommendations in this region can be even more valuable than reputation. So instead of chasing the next sale, focus on doing brilliant work, surpassing expectations and delivering real impact.

Always consider cultural nuances

Each country in Asia has its own unique business etiquette and cultural nuances. In Japan you have no chance of connecting with your target audience unless you are communicating in Japanese, in contrast with Malaysia and the Philippines where English is the standard language for business.

Tailor your business practices, marketing, and communications to fit the local culture for individual countries in Asia. This might include translating materials into the local language or adapting your business model to meet local consumer preferences.

Marketing in a new market

Make sure people are finding you on Google and when they do, make sure your brand, messaging & content backs up why your audience should be choosing your services. Done well, pay-per-click (PPC) provides immediate visibility, very effectively targeting potential customers and recruits. The ROI is undeniable.

Then you can consider proactive outreach to grow your brand and network. We recently hosted a Marcoms in Asia webinar with some of the top marcoms leaders in the region, which led to another 100 new connections and opportunities to build our network out here.

So timing isn’t everything. Building a business in Singapore has taken a ‘fox’s courage’ – often in situations that can be high pressured and a step into the unknown. But with the support of a loyal client base and an exceptional team across Asia and the rest of the world we’ve been able to pull off something special that is only going from strength to strength.

Key takeaways

  • Q1: Why is local presence important for business growth in Asia? A1: Being on the ground allows businesses to understand local nuances and effectively communicate with their target audience, which is crucial for success in Asia.
  • Q2: How does networking contribute to success in Asia? A2: In Asia, who you know is often as important as what you do. Face-to-face meetings and strong connections are essential for business growth.
  • Q3: What role does cultural awareness play in expanding a business in Asia? A3: Each Asian country has unique cultural and business practices. Tailoring your approach to fit these nuances is key to successfully connecting with your audience.

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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

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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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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. 

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Six key takeaways from EBAday 2024

By Arthur Instone, Financial Services

When will we have a digital euro – if ever? How is AI impacting capital markets? Are banks ready for instant payments? And are fintechs out to replace banks, or work alongside them? These are all questions that attendees grappled with at this year’s EBAday in Lisbon, the Euro Banking Association’s annual summit for leading payments and transaction banking executives.

This year’s theme, ‘Orchestrating the dialogue on payments’, was chosen specifically to reflect the fact that now is the time to turn plans into practices that reflect the new payments era. Here are six of my key takeaways from the conference:

1. Collaboration is increasingly critical

Banks share the same pain points, and with so many new or updated regulations coming into force in the next 3-5 years, panelists were keen to emphasise that joining forces with other industry players can help them navigate this uncertain landscape.

Combatting fraud was one area that was identified where collaboration will be especially important. Simone Löfgen, global head of payment platforms and managing director at Commerzbank, said, “It is absolutely crucial that we are connected, and that we’ve defined common ways of combating this industry challenge, so there shouldn’t be any competition on fraud because it’s a joint attack that we’re all facing.”

This ‘joint attack’ approach is particularly important, since fraudsters are always finding new and increasingly sophisticated ways to extract funds. Cross-company, and critically, cross-industry collaboration will help banks detect these patterns and be more agile in their approach to fraud.

2. AI: a question of what, not how

Panelists highlighted that AI is no longer just a shiny buzzword but is very much a technology of the here and now, having a real impact on banking operations.

 It was interesting to see the range of applications for which AI is being used. In an audience poll during a session on ‘AI in capital markets and payments’, 31% responded that streamlining operations is the main use case, 29% voted for improving customer service, and 25% voted for enhanced risk assessment and fraud management.

There’s no doubt that AI is having a transformative impact on banking operations, but the challenge facing banks is how to adopt AI at scale rather than for individual use-cases. The question they’re grappling with is: should we build our own in-house solution or buy a ready-made model? Christian Sarafidis, chief executive EMEA financial services at Microsoft, argued the latter is more suitable.

This is because the technology is evolving so rapidly, and banks are unlikely to have the in-house skills, resources and expertise to create a solution that is better than what is available in the market, where solutions have already been designed to meet specific needs of the banking sector.

3. Divergence on CBDCs

CBDCs – a solution looking for a problem or a genuine monetary innovation? In a session on ‘The future of payments’, moderator Joy Macknight put the question to the audience, asking Do we need a digital euro, whether wholesale or retail? Interestingly, a majority of 62% said no, compared to 38% who voted yes.

Panelists were quick to point out, however, that the question was slightly misleading by grouping the wholesale and retail use-case together. They agreed that the wholesale CBDC development is at a far more advanced stage of development than retail, a hypothesis supported by the Bank of International Settlement (BIS). A survey by the BIS in late 2023 found that the likelihood that central banks will issue a wholesale CBDC within the next six years now exceeds the likelihood that they will issue a retail CBDC.

There was positivity about the role of blockchain in capital markets more broadly. Michael Reinwald, Head of Sales for JP Morgan Germany and Austria, was “convinced” that tokenisation will be central to driving capital market innovation, helping to increase market liquidity, reduce the risk of fraud, lower transaction fees and improve transparency and visibility across the trading cycle.

4. The road to instant payments is easier said than done

Instant payments are a massive priority for banks, especially given that SEPA Instant – set to apply from January 2025 onwards – will require Eurozone banks to offer instant credit transfers at any time of day and year. In an audience poll during a session on ‘The Instant Payments Revolution’, the overwhelming majority (75%) put instant payments regulation as their number one priority, followed by ISO 20022 migration at 58%.

Enabling instant payments is the aspiration for all banks, but it was clear that achieving this won’t happen overnight and there are still barriers that the industry needs to overcome, none bigger than fraud prevention. In a second audience poll, attendees cited Know Your Customer (KYC) and Anti Money Laundering (AML) as the single most overwhelming challenge in instant payment adoption. Although reimbursement schemes can compensate victims, faster payments mean there is less time to stop fraudulent transactions from being processed and settled.

Panelists also spoke about how the success of instant payments depend on more than  having the right technology infrastructure in place. Simon Eacott, Head of Payments at Natwest, said, “It’s not just about the technology, it’s about the whole end to end user experience.” Consumers value security, trust, speed and convenience, and having these building blocks in place will be key to instant payment adoption.

5. Fintechs and Banks… the special relationship

Banks and fintechs have a unique relationship. Once viewed as a disruptive force aiming to upend traditional banking, bank-fintech partnerships have become increasingly common and highly effective.

In a panel discussion on ‘Prioritising innovation in embedded finance’, panelists agreed that while fintechs can’t solve all the long-standing challenges that banks face, they can provide specific, targeted solutions to pain-points. For banks, this has made partnering with fintechs increasingly appealing.

Pietro Fragnito, senior innovation strategy and market outlook at Italian banking group Intesa Sanpaolo, explained how they partnered with a fintech to simplify transfer paperwork. He said, “We made a partnership with the fintech that solves compliance problems for our customers. They do a lot of work when moving from one utility provider to another. We integrated their services in a seamless way in our application and our customer can complete the journey without going out to switch context and then come back.”

These partnerships are seen as a win-win. Banks, with their established customer bases and regulatory expertise, provide a foundation for fintechs to apply their offerings at scale. On the other hand, fintechs can help banks stay competitive through their agility and customer-centric approach to financial services.

6. Women in Banking: building on progress

As the payments industry becomes more and more specialised, further opportunities for women are opening up in various areas such as technology, Open Banking, ESG or regulation.

In a lunchtime roundtable on ‘Women in banking and payments’, Katja Lehr, Managing Director of the EMEA Payments and Commerce Solutions Team at JP Morgan said, “I see lots of great women in the room today… ten or fifteen years ago it would have a different picture.” Over the past two decades, there was agreement that there has been a positive improvement in the representation of women in the sector.

However, it is still much harder for women to ascend the career ladder than men. McKinsey’s 2022 report on women in the workplace show fairly equal numbers of men and women at entry level, but far fewer women than men at the higher echelons of the banking hierarchy. Despite some hard-fought gains, women’s representation still lags behind at the manager and director levels.

Panelists agreed that cross-industry and cross-company support for women is needed to bridge this gap at all levels of the hierarchy and keep women in top positions.

Adeus Lisbon, bonjour Paris

The overwhelming feeling was one of resilience. After a global pandemic, high inflation and geopolitical uncertainty, global payments revenue grew by double digits in 2023 while the industry continues to attract top talent and skills. Regulatory reform will put banks under more compliance pressure, but this also presents an opportunity to innovate.

Wolfgang Ehrmann, chairman of the board at the Euro Banking Association, concluded the event with a fitting football analogy: “There is a golden rule from German football: After the game is before the game. So, after EBAday is before EBAday.” As we look ahead to next year’s event in Paris, we can be optimistic about the future of transaction banking.

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