The recent AGB Webinar Series which was held on 25th June last week, discussed and covered the issue of corporate image and reputation, and what companies need to be doing during a crisis. For example, during Covid-19, many operators and suppliers have stepped up their CSR activities to help out the communities in which they live and work. But even here, there needs to be a clear strategy.
Asian gaming firms may benefit from forming a network, or trade association, to promote the positive effects of IRs and overcome negative perceptions of the industry, said a leading corporate image specialist in a webinar hosted by Asia Gaming Brief.
“Individual companies may be swimming against the tide when it comes to promoting their brand and reputation if there is a wider view of the industry as being harmful,” said Charles Font, senior associate at global communications consultancy firm Montieth & Co.
“It’s important to highlight that CSR needs to be meaningful to a company’s audience. Sometimes it’s fabulous to do a donation to a certain NGO, but if that bears no relation to your audience then it’s not a good CSR strategy.”
Font explains that it is also important that any charitable efforts are not seen to be a publicity stunt and any company putting out statements about virtuous intent needs to make sure they follow up with action. “It’s all well and fine to talk about a certain activity, but if you are not helping with that change your words will fall on deaf ears.”
“You need to be careful as to how you word it and put the message out there. An example would be a very large company, with very large revenue giving a small donation. That’s great, but don’t shout about it as people will ask if they have so much money to spare why are they giving such a small donation.”
At the end of the day, Font says one of the key issues when it comes to managing image and reputation is for a company to ensure it’s authentic, as a lack of authenticity destroys trust. The full webinar is available for viewing on Asia Gaming Brief’s website.
The next AGB Webinar will be held on July 23, 2020 – and will discuss South Korea’s casino industry recovery and its opportunities. Register here to ensure access to the webinar and its recording.