Marketers talk a lot about brands growing and expanding, but when should a brand pull back? Here are five common brand mistakes and the best things to do if you want to recover.
Branding is a serious business, but does that mean brands themselves must always be so serious. Is there room for more personality? Should you lighten up your brand image?
Branding is competitive. It’s about staking out the right to earn over others. So it requires a strong and competitive strategy. But when that competitive streak becomes obsessive, brands lose objectivity and that can cost them dearly.
There’s an interesting polarisation going on right now in terms of brand size. Companies that have expanded are now consolidating their brand models in the hope of getting closer to consumers and achieving greater brand growth.
The temptation for most businesses and indeed most brand managers is to look for growth right across their brand portfolio. Their strategy is developed on that basis. But that’s far harder and far less effective than it sounds.
Small brands are edgy, attuned and preferred. That seems to be a common sentiment right now. But there is nothing to suggest that any of this makes it easy to win as a small brand today.
The ethical consumer may be a well identified buyer in the marketing press, but customers themselves seem somewhat confused by what counts as a responsible brand.
We often think of brand value in financial terms. But that value, I would venture to suggest, is actually a result of a broader initiative that brands need to think about in these busy times: finding ways to be valuable in the lives of those who buy from them.
Have we become so pre-occupied with the niceties of brand that we’ve forgotten the reason they exist?
I met Mark Hunter on my very first trip to the United States. I was speaking at the National Speakers Association University on how to build a personal brand. Our conversations between sessions over several days would influence how I thought about sales and the business of keynote speaking.