There are certainly good times to consider diversifying your brand, but equally there are times when such a strategy should be avoided. Here are three situations when your brand shouldn’t go there.
As some of you know, I’m working with Pete Canalichio on a new book about how brands can rethink their growth strategies. Together we’ve been studying how and where many of the world’s most successful brands partner up to reach consumers, how they grow engagement with their brands by expanding their market sector reach, and what that means for business models. On Thursday evening, I’ll be sharing my thoughts on how the strategies of global brands can be applied to businesses of all sizes looking for growth and profitability in today’s super-competitive environments. Building Brands in the Connective Economy Level 2, 318 Lambton Quay, Wellington Thursday 13 October 5:00-7:00pm Admission is free, but please register at Future of Business. Hope to see you there.
Is there ever a right time to get on the front foot and challenge your competitors by name?
Leveraging a story that everyone knows is powerful – but risky. Powerful, because it’s immediately recognisable. Risky, because unless you can provide a new spin, it’s a tale they already know. Perhaps too well.
It’s tempting when your brand is trending to believe that the hard work is done. In point of fact, it may just be beginning.
It’s not always easy to spot that your brand is falling out of favour with consumers, especially if, on the face of it, things look healthy.
Marketers love patterns. But repetition is not always the most reliable metric for brand loyalty. What makes your brand attractive?
Differentiation is acknowledged by most as the goal that every marketer should be seeking. But the enthusiasm for the pursuit masks a common misunderstanding – in the context of brand strategy, different and difference are not one and the same.
It’s increasingly easy to be a brand that people talk about in glowing terms, part of a sector that appears to be booming, and yet on a downward slide financially.
Christopher Zook’s article on why companies with strong founders are more innovative, generate a greater number of patents, and more valuable patents at that, and are proactive in investing in and adapting their business model is a reminder to all of the very human qualities required to keep a company (and its brands) growing.