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, has said a leading corporate image specialist in a webinar hosted by Asia Gaming Brief.
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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, has said Charles Font, a senior associate at a global communications consultancy firm Montieth & Co.
Held on Thursday, the 25th of June, the webinar has discussed corporate image and reputation, and what companies need to do 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. However, even here, Font warns, a clear strategy needs to be.
“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.”
He explains that it is also important that any charitable efforts are not seen to be a publicity stunt. 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. 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 that one of the key issues for a company, when it comes to managing its image and reputation, is to ensure that it’s authentic, as a lack of authenticity destroys trust.
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.