Understanding and Boosting Brand Awareness
Many say a brand is a company’s personality and overall symbol of what it stands for. In a very intuitive article in Forbes, brand is simplified as follows:
Your “brand” is what your prospect thinks of when he or she hears your brand name. It’s everything the public thinks it knows about your name brand offering—both factual (e.g. It comes in a robin’s-egg-blue box), and emotional (e.g. It’s romantic). Your brand name exists objectively. People can see it. It’s fixed. But your brand exists only in someone’s mind.
So what happens to a company’s sales and overall competitiveness if prospects (and even its own employees) begin to associate the company name with negative words such as old-fashioned, legacy, or out-of-touch?
We discuss how companies can turn to innovation to Activate Brand Awareness in our latest Insight Series report.
Download cost-free: Activate Brand Awareness.
Case study #5 examines how companies promote their innovation and their activities in the innovation ecosystem as a way to boost external (and internal) consideration.
Overall, the report provides a thought-provoking look at how companies collaborate with innovative startups and the worldwide innovation ecosystem to support business needs.
Projecting a Modern Image, Showcasing Innovation
In our latest report, we discuss how a company’s brand needs to be nurtured.
These smart companies sought channels to promote that they are indeed modern, innovative businesses.
Ericssson is a leading provider of Information and Communication Technology that manages almost half of the world’s mobile traffic through their networks. It has been serving its customers for over 140 years. It sought a channel to promote its cutting edge research and showcase that it is a modern company.
- Being a keynote speaker at UBI Global’s World Incubation Summit 2016 held in Stockholm, Sweden was followed by a tour of its innovation facility, the Ericsson Garage.
Similary, Amazon Web Services, Gold Corp Mining, Merck, Vodafone, and Saudi Electricity chose to present their cases to the entire innovation community by speaking at the World Incubation Summit 2018 held in Toronto, Canada.
These insightful companies place innovation at the forefront.
They shared their approach to innovation in an open dialogue. We see that the aim is to bring brands to life and form long-term attachments with customers through emotional connections. Corporations seek brand activation through different activities such as promotions, events, and free products.
Download Activate Brand Awareness for a closer look.
Impactful Collaborations in the Innovation Ecosystem
Over one-third of the UBI Global member business incubator and accelerator programs benchmarked reported at least one corporate partner. It is through these partnerships that corporations access startup talent and secure their future competitive advantage.
Corporations strive to protect their core brand identity and seek various channels and activities.
Leveraging the innovation ecosystem and getting involved with its players is a way to activate brand awareness. Some effective ways include:
- inviting the public for company tours;
- hosting hack-a-thons for startup companies;
- participating in trade shows and industry events;
- offering free samples and live promotions; and
- securing speaking slots and panel participation.
UBI Global is dedicated to enabling worldwide collaborations that impact innovation through international events, innovation insights, management tools, research and consulting services, and more. Our network is comprised of over 1200 incubators and accelerators located in over 90 countries.
In sum, these members represent over 20,000 startups worldwide!
As a well-connected thought leader in the worldwide innovation landscape, we invite you to partake in our knowledge:
Download Activate Brand Awareness.
Previous Installments of the UBI Global Insight Series:
Oct 04, 2019 The Question is… What is the Question?
What methods do corporations use to seek startup partners? Technology has leveled the playing field of business. Today’s startups are just as likely to come up with the next innovation that consumers “must-have” as a corporate innovation team. It’s all about having the right idea at the right time – and the resources to make […]
Aug 12, 2019 Boost Your Corporate Innovation: Activate Business Intelligence
Understanding the Innovation Landscape Innovation is a key focus for businesses looking to stay competitive. Many corporations hunt for new ways to gain an edge and have noticed that there are lots of exciting actors in their local (and even wider) innovation ecosystem. But how does one begin to understand this far-reaching and dynamic innovation […]