"Communication can generate a fundamental capital in the relationship between a company/organization and its stakeholders: trust", say the ESCS-IPL researchers responsible for the InterCom Report B2B - The Way Forward. In an interview with Link To Leaders, Marta Gonçalves and Ana Raposo explain the study's conclusions and what communication can do for a company's success.
The second phase of the InterComm Report B2B study, with the motto #TheWayForward 22"23, was recently released and focuses on the fact that the success of B2B exporting companies is intrinsically linked to their investment in communication. The researchers at the Escola Superior de Comunicação Social do Politécnico de Lisboa (ESCS-IPL) Marta Gonçalves and Ana Raposo, responsible for the analysis, explain to Link To Leaders that, in a context of instability and transformation of interaction, communication is responsible for creating opportunities, ensuring trust and enhancing the relationship with stakeholders. The role of B2B communication is strategic in global markets.
Marta Gonçalves and Ana Raposo leave a warning: "If our companies want to be successful in foreign markets they have to increase their reputation, by building and consolidating relationships with all stakeholders. If you want to sell better you have to communicate better, and if you don't you will always be competing at a disadvantage."
How is the success of B2B exporting companies linked to the bets, or not, that they make on communication?
Marta Gonçalves (M.G.): B2B exporting companies operate in global markets with the perspective of winning new customers and achieving better performance. This decision will be more efficient when there is an investment in communication, an investment that allows for added value in terms of reputation and by building and consolidating relationships with stakeholders.
Currently it is not enough to make known the characteristics of products and services. It is essential to share innovation, establish synergies, trust and cooperation in a space for dialogue and negotiation, contributing to the commercial and operational development of the company and this is only possible by incorporating a communication strategy in the overall strategy of the company. The answers of the companies surveyed over the past two years, within the scope of this project, corroborate this trend that investment in communication contributes to the success of B2B exporting companies.
How did this study TheWayForward 22"23 come about and what is the purpose?
Ana Raposo (A.R.): The InterCom Report B2B - The Way Forward, follows the InterComm Report B2B - Communication Trends in Global Businesses conducted in 2020 and presented in 2021. This study is an update of the work that has been developed by the Escola Superior de Comunicação Social do Politécnico de Lisboa (ESCS-IPL) and SayU Consulting and its purpose was to understand what has changed, what has remained and what are the future prospects in terms of the role of communication in building and managing relationships with customers and suppliers. stakeholders in companies that focus on selling to other companies - Business-to-Business (B2B) - and with relevant international business.
"The companies surveyed are in consensus that equal or greater importance is attached to communication management in organizations today."
Overall, what are the main conclusions?
M.G.: We can highlight what we consider to be the three main conclusions. The first major conclusion of this second stage of the study, which confirms the trend already presented in the previous stage of this work, is that the outlook for the communication function seems quite positive. The surveyed companies are consensual in considering that today equal or greater importance is attributed to communication management in organizations. The communication departments have gained more space and importance, assuming their own identity.
It is relevant at this point to mention that we are talking about a communication management that goes beyond promoting the attributes of products and services or the disclosure of prices, which presupposes the construction and management of a relationship with the public. stakeholdersIt needs to be nurtured and worked on over time, based on the presentation of the company's distinctive features.
Secondly, communication with employees, or internal communication, has also emerged as an area that has gained more space. As a consequence of the challenges experienced during the pandemic, communication in companies was limited to the digital, which generated certain alignment problems in team spirit and sense of belonging among employees. Thus, it is necessary to strengthen the role of communication focused on employees, with a view to strengthening the culture and corporate identity.
Finally, the third conclusion is related to the ingredients identified as essential for the success of the operation, namely resilience, associated with agility, flexibility, and the ability of the organizational structures to adapt to the different scenarios considered, combined with a focus on differentiation and innovation.
You argue in your study that "it is essential for national B2B exporting companies to enhance their reputation, build and consolidate their relationships. What is still missing in this process?
A.R.: When we talk about reputation management and the building and consolidation of relationships we are referring to a complex process, in which it is necessary to combine different issues. We can say that there may still be greater investment in strategically thinking about communication with a focus on stakeholders and in more humanized messages that highlight the distinctive features of the organization, based on data-based decision making and incorporating the ESG agenda.
"(...) companies recognize the importance of communication and 70% of these have plans to invest in this area in the near future."
Do Portuguese companies invest enough in this area?
A.R.: The assessment of what will be sufficient or not is associated with the defined objectives and results that are intended to be achieved. The conclusions of both phases of this research are encouraging, since companies recognize the importance of communication and have plans to invest in this area in the near future. However, we know that there is still a way to go, because not all organizations are awake to the contribution that, when thought strategically, communication can make to the success of the organization.
What can communication do for the relationship between a company/organization and its stakeholders?
M.G.: To answer in a direct and simple way, communication can generate a fundamental capital in the relationship between a company/organization and its stakeholders: trust. If this has always been a key element when we think about relationship management, in times of uncertainty and consequent increased noise such as the ones we live in, we need to strengthen trust, trust that serves as an anchor and a way to mitigate risk.
For this it is essential for companies to consolidate their reputation and build and maintain their relationships with all actors in the production chain. This process involves adding value, from the supplier of the basic raw material to the final customer (the buyer), passing through all other stakeholders such as employees, partners, regulators or government.
"(...) one of the biggest gaps when it comes to communication is understanding it in a comprehensive way (...)".
Do Portuguese companies invest enough in this area? What are still the biggest gaps in companies with regard to communication?
M.G.: As mentioned, when we talk about communication management we believe that there is still a way to go, and one of the biggest gaps regarding communication is its understanding in a comprehensive way, including not only the presentation of the characteristics and attributes of products/services, which we usually call commercial and technical communication, but also the need to invest in the communication of the distinctive features of the organization, which enables the creation of a capital of trust with its audiences - the institutional communication. This issue emerged in the InterComm Report B2B - Communication Trends in Global Businesses and is again of significant importance for the companies interviewed in this second phase of the study.
In which activity sectors do you feel this bet on communication is more pressing?
A.R.: The data we have collected does not allow us to fully answer this question, since this angle has not been explored. Each sector has its own dynamics and will certainly require distinct and adequate solutions to each reality. In terms of sectors, what became evident was the fact that in some of them there is today a clear challenge to find solutions for the lack of qualified and/or specialized labor.
(...) communication with stakeholders has changed forever, and the way forward will be a hybrid model (...)".
Digital transformation and communication. How can these two aspects get the best out of each other?
A.R.: Rather than talking about taking advantage, it would be more appropriate to think about complementarity and synergy. When we think of companies that develop their activity across borders, the possibility of using digital communication, which has clearly gained space in the last two years, is an opportunity.
The companies surveyed in this second phase were unanimous in their answers to this particular question: communication with stakeholders has changed forever, and the way forward will be a hybrid model characterized by the combination and integration of traditional face-to-face contact with new communication solutions, namely digital or hybrid ones. The challenge that is on the table at the moment is to ensure the proximity of the contact and the response to the expectations of the stakeholdersThis is the best way to communicate - face-to-face or online - depending on the objectives.
Where is corporate communication a priority? In the internal or external market?
M.G.: Communication is a priority in both domestic and foreign markets. The fact of developing a cross-border operation may require increased investment in communication, in order to gain space in markets with dynamics that can be very different. Above all, communication decisions must be framed within an assertive strategy, a strategy that integrates concerns associated with the definition of processes and logistics networks, billing issues, legal aspects, and knowledge of standards and regulation, integrating the ability to ensure recognition and awareness through communication, whether in national or foreign territory.
"When we bet on communication and work well on this aspect of the business, the impact is visible and gigantic."
In your opinion, what are the possible ways for Portuguese companies to communicate effectively in global markets?
A.R.: When we encounter adverse contexts like the one we are in, the market needs guarantees to which it can cling, that give it confidence (who we are, where we come from, and where we are going). Brand and reputation are good examples. Without communication there is neither one nor the other. Without communication nobody knows, nobody influences, nobody buys.
When we invest in communication and work well with this aspect of the business, the impact is visible and huge. However, each company has its own unique and distinctive identity, so there are no two equal paths. We were able to identify a set of basic principles that are transversal to any organization that wants to invest in communication, but there has to be a thorough and deep work to determine the best strategy for each player.
Although there is no single standardized formula, we know that betting on a humanized narrative will contribute to building meaningful connections. We cannot forget that a very good and well told story is as important today as it ever was.
Today's world demands greater transparency and trust. If our companies want to make a name for themselves in foreign markets, they need to enhance their reputation by building and consolidating relationships with all stakeholders. stakeholders. If you want to sell better, you have to communicate better and if you don't, you'll always be competing at a disadvantage.
As researchers, what do you foresee for the future of the relationship between business and communication?
M.G.: Considering the path we have been observing and the trends presented, we foresee a bright future for communication and for the way this strategic function is not only understood, but also recognized as an added value for the operation, for the business and, above all, for the sustainability of organizations in the medium to long term.
Quick answers:
The greatest risk: Do not anticipate
The biggest mistake: Not planning
The biggest lesson: Resilience and agility
The greatest achievement: The recognition of the importance of communication for the success of B2B exporting companies.