Staying on top of brand management is critical to the success of your business. Why? Well, it sort of goes without saying, but nothing is set in stone – if you don’t adapt, you get left behind. Think about the brands you currently enjoy on a more or less daily basis. Are they the brands you purchased this time last year? How about five years ago? Were you purchasing the same brands ten years ago? Just look at your clothes. Are they the same clothing brands you were wearing when you were a teenager?
Brand management allows you to better adapt to meet the needs of your audience. Of course, you could hope that younger generations step in to replace the drop-offs in your core client base as people grow older and turn away from your products or services. But when you’ve got loyal customers on board, why abandon them? This is your chance to expand.
Establish how your brand should feel
Brands aren’t multiple things to many people. They are one thing to as many people as the CEO can reasonably convince. And that one thing is a feeling. Nobody buys an expensive car for a five-minute commute because it’s sensible. Nobody buys a house with more bedrooms than they need because they sleep better when surrounded by empty rooms.
What we buy says a lot about who we are. We buy our own state of mind. And we live in that state of mind every day.
If your brand doesn’t know how it feels, don’t expect the public to live inside that feeling and keep coming back for more. Who are you selling to? What motivates them? How does your brand reflect who they are? If you can’t answer those questions, several competitors will happily take the microphone and answer them loudly.
Define your procurement and workflows
Brands should be stable. If what you offer is constantly going through revisions, nobody will buy into your offering for long. One of the main reasons that brands undergo such change is issues with procurement, which leads to a knock-on effect in changes to production and workflow. Where the workflow is disrupted, the end product suffers.
Of course, even if there is no procurement issue, changing your offering for no reason is a bizarre step that won’t go unnoticed by your audience.
For example, nobody liked it when the big-wigs at Coca Cola changed the recipe in the mid-80s. 200,000 people took part in a taste test, and the results showed that the newer version was preferable. Yet the brand was forced into a U-turn.
The lesson is to define your procurement practices and workflows, and don’t mess with things when they’re working.
Lastly… collaborate within your firm
Do you know who knows more about your brand than you do? It’s not your audience. It’s not the bank or your investors. It’s your staff. They work day in day out around your products and services. Collaborate with them over brand management to see how you could adopt better ways of engaging with the public using the brand as it stands. They know more than you might think!