focus on stakeholder mapping - ri.reptrak.com pdfs/rln... · 5 purpose and stakeholder alignment:...
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Focus on Stakeholder Mapping
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Who is your most important stakeholder?
• The stakeholder ecosystem is complex• There are often institutional biases• Legacy inertia related to “we’ve always done that”• No empirical proof for weight of stakeholder importance• Relationships between stakeholders are inter-dependent• Stakeholder dynamics are different by industry• Strategic misnomer of “let’s engage all stakeholders”
KEY QUESTION FOR ALL CORPORATE COMMUNICATION LEADERS
Need for an organizing principle
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“Great brands focus on people who matter the most.”
Stakeholder Mapping
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Which Stakeholders Should The Company Focus On?
Purpose
STAKEHOLDER MAPPING: STARTING POINT
Why we exist?
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PURPOSE AND STAKEHOLDER ALIGNMENT: IT DEFINES WHY A COMPANY EXISTS
“Why people love you””“Your Strategic North Star”
“Your moral compass”“Your heart and soul”
“It shapes your reputation”
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Purpose
STAKEHOLDER MAPPING: EXAMPLE
We exist to make everyday living affordably better
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Understand the Stakeholder Alignment With Your Core Purpose
PerceptionPurpose
??
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?
?
?
?
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STAKEHOLDER MAPPING: SECOND STEP
Brainstorm the Stakeholders under
consideration
We exist to make everyday living affordably better
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Stakeholders That Matter Most: Examples
PerceptionPurpose
Consumers
Non Consumers
Opinion Elites
Investors
Customers
RegulatorsEmployees
Policy Makers
STAKEHOLDER MAPPING: UNDER CONSIDERATION
Discuss and develop a list of
Stakeholders under consideration
Community Leaders
Media
We exist to make everyday living affordably better
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Key Basis For Mapping Stakeholder Importance:
50%
Stakeholder
Good will
Good business
50%
STAKEHOLDER MAPPING: BASIS FOR DECISION MAKING
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Evaluate the Relative Importance of Each Stakeholder:
STAKEHOLDER MAPPING: TWO KEY QUESTIONS
Questions to Ask:
Who is most important in driving reputation?
Who is most critical to driving enterprise value?
Score for each stakeholder group (0-5):
Consumers Non Consumers
Opinion Elites Investors
CustomersRegulatorsEmployeesPolicy
Makers
Community Leaders
Media
Good will
Good business
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Numerically Assess How Each Stakeholder is Rated: Score 0-5
STAKEHOLDER MAPPING: SCORE CARD
Corporate Brand Non Consumers Consumers Employees Investors Opinion
Elites Media Customers Policymakers Community Leaders Regulators
Importance in driving reputation
Critical to driving enterprise value
Total
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Numerically Assess How Each Stakeholder is Rated: Demonstrative
STAKEHOLDER MAPPING: SCORE CARD
Corporate Brand Non Consumers Consumers Employees Investors Opinion
Elites Media Customers Policymakers Community Leaders Regulators
Importance in driving reputation4 5 4 2 4 3 3 1 3 2
Critical to driving enterprise value4 5 5 3 3 2 3 2 1 1
Total 8 10 9 5 7 5 6 3 4 3
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5
5
0
0
High PriorityMedium Priority
Medium PriorityLow Priority
Use a Framework for Understanding How and Where Stakeholders Fit:
STAKEHOLDER MAPPING: PRIORITIZATION
Importance in Driving Reputation:
Importance in Driving Enterprise Value:
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5
5
0
0
Plotting the Stakeholder Score Card Data on the Framework:
STAKEHOLDER MAPPING: GETTING TO CLARITY
Importance in Driving Reputation:
Importance in Driving Enterprise Value:
NonConsumers
Media
Opinion Elites
Investors
Consumers
Regulators
Employees
Policy Makers
Customers
CommunityLeaders
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Reputation dimensions: Understanding what’s important
Q305: Please consider the following statements and select a number from “1” to “7” where “1” means “I strongly disagree” and “7” means “I strongly agree.“ RepTrak® Pulse score measures stakeholder’s Trust, Admiration and Respect, Good Feeling and Overall Esteem, on a 0-100 scale.Q310: Using the same 1 to 7 scale, please rate [Company1] on the following dimensions:Poor
WeakAverageStrongExcellent 80+
70-7960-6950-59<50
Normative Scale
2016 U.S. RepTrak® Dimensions: Retail Industry
18.8%
13.5%
13.4%
13.9%
14.3%
13.0%
13.2%
67.9
54.660.0
65.566.2
60.0
69.3
68.2
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Key Questions to Explore:
STAKEHOLDER MAPPING: CREATING FURTHER CONTEXT AND UNDERSTANDING
Consumers
Employees
Non Consumers
• How do these key Stakeholder view the corporate brand?
• Are these Stakeholders completely aligned with the corporate brand purpose?
• What are the issues and expectations for each of the Stakeholders?
• How does the company compare to competitive corporate brands and aspirational benchmarks?
2016 U.S. RepTrak® Dimensions:
Retail Industry
18.8%
13.5%
13.4%
13.9%
14.3%
13.0%
13.2%
67.9
54.660.0
65.566.2
60.0
69.3
68.2
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Investors?
Mexico
Argentina
US
66.9
65.6 60.7
Canada
66.8
China
51.9 Germany
69.6
Consumers
Poor/ Lowest TierWeak/ VulnerableAvg./ ModerateStrong/ RobustExcellent/ Top Tier 85
+76-8466-7556-65<56
Normative Scale for Employees:
India
Canada
Belgium
Russia
Vietnam
Mexico
Argentina
Bolivia
The Netherlands
France
South Korea
64.775.6 71.3
US
91.7
80.2
84.1
76.9
Employees
81.1
Brazil
81.9
50.9China
79.5
89.0
87.484.790.0
73.6Ukraine
US
63.7
Brazil
China
Regulators
Mexico
46.7
69.8
62.6
62.667.3
US Brazil
Opinion Elites
Example Stakeholder Ecosystem: Multi-National
Poor/ Lowest Tier
Weak/ Vulnerable
Avg./ Moderate
Strong/ Robust
Excellent/ Top Tier 80+
70-79
60-69
40-59
<40
Normative Scale for Other Stakeholders:
82.5
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The Movers and Shakers of Reputation
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Questions:What is the inter-relationship between stakeholders?How does content sharing occur between stakeholders?How does that impact the diffusion of reputation?
Understanding The Stakeholder Ecosystem: The Inter-relationship
Consumers Non Consumers
Opinion Elites Investors
CustomersRegulatorsEmployeesPolicy
Makers
Community Leaders
Media ?
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“The critical point in a situation, process, or system beyond which a significant and often unstoppable effect or change takes place.”
Understanding The Stakeholder Ecosystem: The Inter-relationship
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Applying Tipping Point Theory To Reputation
Understanding The Stakeholder Ecosystem: The Inter-relationship
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Applying Tipping Point: Reputation Diffusion Framework
CONNECTOR MAVEN
SALESPERSON
Understanding The Stakeholder Ecosystem: Application
Connects people through sharing knowledge
Uses knowledge to engage and persuade
Connects people to each other
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Applying Tipping Point: Reputation Diffusion Framework
CONNECTOR MAVEN
SALESPERSON
Understanding The Stakeholder Ecosystem: Application
Connects people through sharing knowledge
Uses knowledge to engage and persuade
Connects people to each other
Tipping Point
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Applying Tipping Point: Reputation Diffusion Framework
CONNECTOR MAVEN
SALESPERSON
Understanding The Stakeholder Ecosystem: Application
Connects people through sharing knowledge
Uses knowledge to engage and persuade
Connects people to each other
Where would you put each stakeholder?
Consumers Non Consumers
Opinion Elites Investors
CustomersRegulatorsEmployeesPolicy
Makers
Community Leaders
Media
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Applying Tipping Point: Reputation Diffusion Framework
CONNECTOR MAVEN
SALESPERSON
Connects people through sharing knowledge
Uses knowledge to engage and persuade
Connects people to each other
Opinion Elites
Policymakers
Non Consumers Consumers
Opinion Elites
Investors
Customers
Regulators
Employees
Policy Makers
Community Leaders
Media
Understanding The Stakeholder Ecosystem: Application
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The “Movers and Shakers” of Reputation
Opinion ElitesOpinion Elites
Community Leaders
Tipping Point
But who are they?
Understanding The Stakeholder Ecosystem: Application
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Opinion ElitesOpinion Elites
Community Leaders
Tipping Point
An algorithmic definition that includes:• Political volunteer• Write letter to member of congress • Primary voters• On the PTO• Bloggers• Social Media Actives• Follow Current Affairs• Own and trade shares• Well educated (but not always wealthy)• Category advocate• Community volunteer• Business Owners
10% of general public
How to Identify Opinion Elites
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Opinion ElitesOpinion Elites
Community Leaders
Tipping Point
Where To Find Opinion Elites
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Hypothesis: Opinion Elites are Highly Influential
OpinionElites
Higher Potential Impact
Purpose
Corporate Brand
Are Opinion Elites the Biggest Promoters or Detractors?
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Opinion Elites Relative To Other Stakeholders: 2015
Opinion Influencers vs. Consumers
Opinion ElitesConsumer
PoorWeakAverageStrongExcellent 80+
70-7960-6950-59<50
Normative Scale
Leading Indicator 67.366.9
Hypothesis: Opinion Elites as a Leading Indicator of Reputation
Predict increasein reputation
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Opinion Elites Relative To Other Stakeholders: 2015
Opinion Influencers vs. Consumers vs. Regulators
Opinion ElitesConsumer Regulators
PoorWeakAverageStrongExcellent 80+
70-7960-6950-59<50
Normative Scale
Third Party Endorsement
Leading Indicator 67.3 46.766.9
Hypothesis: Opinion Elites as a an Endorser of Reputation
Mitigate againstreputation risk
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How important are they to the reputation of your business?
Opinion Elites
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Discussion about Millennials
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Defining Millennials:
Source: US Census Bureau
• 18 and 34 years old• Largest generational cohort• Surpassed Baby Boomers• 75.4 Million as of April 2016
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Things you should know about Millennials and reputation
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The Millennial cohort is influenced by unique circumstances
1
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Transparency Privacy
Diversity Social Responsibility
Values
Reputational Macro-Trends That Shape Millennials
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Companies who identify with Millennials have a better reputation
2
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The Top 10 Companies In The US Have An Even Better Reputation Among Millennials
MILENNIALS AND COMPANIES OF HIGH REPUTE
MILLENNIALS NON-MILLENNIALS
84.1 82.0-2.1
Millennials = 18-35Non-millennials = 36-64
THE TOP 10 COMPANIES HAVE A BETTER SCORE AMONG MILLENNIALS IN ALL OF THE ENTERPRISE DIMENSIONS (WORKPLACE, GOVERNANCE, CITIZENSHIP, LEADERSHIP AND PERFORMANCE. )
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Millennials strongly identify with consumer oriented companies
3
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2016 U.S. Industry Ranking: Millennials Only
•Reputation matters more than ever before across all industries for Millennials
•Consumer, Information / Media and Retail are the top 3 Industries for Millennials
•Most industries maintained their level of reputation in relation to 2015, except for Consumer and Information which improved, and the Financial Industry which decreased slightly
Rank Millennials
1 Consumer
2 Information
3 Retail
4 Healthcare
5 Services
6 Industrial
7 Technology
8 Energy
9 Hospitality
10 Financial
75.4
74.6
73.7
73.0
72.1
71.1
70.9
70.3
70.1
68.6
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Millennials view of companies is driven by products and CSR
4
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2016 Overall US Driver Weights: Millennials
Millennials
• Perceptions linked to Products / Services and Corporate Social Responsibility drive a Millennial’s view of companies – especially Citizenship and Governance
• The CSR Dimensions: Citizenship, Governance and Workplace, account for 42% of the reputation for this group
16.7%
13.3%
13.6%
14.1%
14.8%
13.7%
13.8%
Factor Adjusted RegressionN = 9,786
Adj-R² = 0.694
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What’s important to Millennials often differs by industry
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2016 Technology Industry Driver Weights: Millennial vs. Non-Millennials
Millennials Non-Millennials
• Aside from Products & Services, Millennial reputation in the Technology Industry is driven by Leadership and Workplace
• This makes sense considering companies like Google and Hubspot, where appealing work environment and disruptive leaders have become a differentiator within the Tech Industry
16.4%
15.8%
14.0%
13.2%
13.6%
13.5%
13.5%
Factor Adjusted RegressionN = 826
Adj-R² = 0.681
18.1%
13.8%
13.1%
12.5%
15.0%
12.8%
14.8%
Factor Adjusted RegressionN = 2,006
Adj-R² = 0.702
MILLENNIALS OFTEN HAVE DIFFERENT EXPECTATIONS WITHIN INDUSTRIES
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For Millennials, perceptions of the company are highly important
6
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A View of the Enterprise Drives Millennial Buy-In Of A Company
>ENTERPRISE
63%
PRODUCT
37%
SUPPORTIVE BEHAVIORSRECOMMEND COMPANY ● SAY SOMETHING POSITIVE ● GIVE THE BENEFIT OF DOUBT ● TRUST TO DO THE RIGHT THING ● BUY PRODUCTS ●
INVEST ● WORK FOR COMPANY ● WELCOME TO THE NEIGHBOURHOOD ● RECOMMEND PRODUCTS ● RECOMMEND AS AN INVESTMENT
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Millennials are more likely to exhibit supportive behavior
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2016 Overall US Supportive Behaviors: Millennials vs. Non-Millennials
46% 44% 44% 45%
53% 51% 49% 50%
39% 38% 38%41%
49% 48% 46% 48%
0%
20%
40%
60%
Work For Recommend AsInvestment
Invest Benefit OfDoubt
Say Positive RecommendCompany
Trust To Do TheRight Thing
Buy
Millennials Non-Millennials
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Millennials are more acutely open to fostering participation
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4%
5%
12%
8%
8%
8%
8%
7%
8%
13%
13%
14%
13%
9%
10%
11%
12%
12%
13%
14%
14%
16%
17%
19%
20%
21%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0%
Program or event sponsored by Company you attendedCompany’s customer support service
Traditional print news source (e.g. newspaper or magazine)Online only news sources
Email from CompanyRadio advertisements from Company
Outdoor media from CompanyFrom other people posting about Company in social media
From social media postings by CompanyTV news source or associated website
Company’s websiteFamily members, friends, or colleagues and topic experts
Internet advertisements from Company
% of US general public who selected "Yes" to having contact with rated company through touchpoint in the last 12 months
Millennial Non-Millennial
Overall US Touchpoints: Millennial vs. Non-Millennials
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But not all Millennials are created equally
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Overall US Supportive Behaviors: Young Millennial vs. Older Millennials
48% 47% 46% 46% 44%41% 40%
38%
55% 54% 54% 53% 51%49% 49% 48%
0%
20%
40%
60%
Say Positive Welcome ToNeighbourhood
RecommendCompany
Buy Trust To Do TheRight Thing
Work For Benefit OfDoubt
Invest
Young (18 - 24) Older (25 - 34)
YOUNGER MILLENNIALS ARE LESS SUPPORTIVE OF COMPANIES
68.7
Younger Millennial
73.0
Older Millennial
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Discussion about Mary KayMillennials