Question

Your project is WeWork, an American commercial real estate company that recently postponed its IPO, fired its CEO, and sold to SoftBank at a large loss. WeWork has recently laid off 20% of its workforce and is struggling to turn the company around after its large public failure. They are looking to improve their brand image throughout the United States and to develop a long-term strategy plan to turn around their company. Based on your analysis, market research, case studies, your understanding of WeWork’s current position, and any other research, recommend (1) how WeWork can improve their brand image and (2) how WeWork can fix their problems and regain their lost ground. THINK OUTSIDE THE BOX

Answer 1

(1) WeWork can improve its brand image in the following way:-

• By investing in Visual Assets:

Hiring a graphic designer to create an ideal logo and brand media suitethat includes brand colour palette, acceptable fonts, letterheafs, headers and thumbnails format for social media Is a worthy investment.

• By rebranding:-

Rebranding can be done by creating a strategic marketing campaign to reintroduce and revive current clientele around the businesses in new direction. A consultant can be hired for for this purpose.

• By building the Brand Values:-

Everyone who is representing the company is a brand ambassador. It is important to hire right employees and communicating to them clearly the vision, mission and expectations regarding the customer's experience.

• By improving online presence:-

Social media platforms are incredible for showing the brand’s personality. Always show appreciation to the customers. By using social media, the company can repost from customers that have tagged the company to show its appreciation for their spreading the word about the company. The company can also post client stories that demonstrate its level of customer service and dedication to client satisfaction.

(2) The reputation of a company is very fragile to deal with. There are several ways in which WeWork can fix its problems and regain their lost ground.

• The company must have the authority of its brand on Google and other search engines. It is vitally important that the company ia ranking well for its own brand name and it has built trust and equity. This way the company will be able to control it sufficiently. Without having this authority, others will be able to rank Wework's brand on the first couple of pages of the search results which will lead to its entire brands reputation being vulnerable.

• It is also important that the company have a plan before it attempts to fix its brand's reputation. The best way WeWork can fix a problem is simply not responding to it. A lot of times, comoany's refutation might actually harm the company as the rankings will be put up higher for the offending comments.

• The complaints of the customers must be responded swiftly by the company. A happy customer is going to tell five of their friends, on the other hand, an unhappy customer will be telling 10 of their friends. Also, a customer that had their issues resolved quickly will tell even more friends. Therefore, it is going to be in the company's best intere.

• A company can control the conversation about its brand if it set up a keyword and brand alert system correctly. This can be done by setting up Google alerts for particular brands name or other keywords that seem important to monitor. This will alert the company whenever someone is talking about its brand regardless of whether or not it is good or bad. This way the comoany will be able to respond quickly and swiftly to remedy the situation.

• It is also very important for the company to understand the complaints recieved. This will help the company to effectively eliminate the complaints all together. By figuring out what people are complaining about, the comoany can work in the best way possible in order to fix it.

• The company shall be able to eliminate or reduce the amount of problems with regard to its reputation by using real and believable testimonals. By doing this, the company will be making it less important to seek out other third party information or testimonials to make a purchasing decision for potential customers.