This blog provides practical information on brand research, strategy and positioning. It also covers brand equity measurement, brand architecture, brand extension and other brand management and marketing topics.
Monday, July 31, 2017
Don't Wait Until It's Too Late
Organizations of all types contact us when they need help with their brands. Often, we work with very strong brands that want to improve their marketplace positions. At other times, we work with brands that may have lost their edge or even their way over time, either because they had become complacent or because of marketplace disruptions. Today, I want to talk about a third type of brand. These are the desperate brands that are in crisis mode.
One organization we worked with had computer system failures that made it impossible for its customers to use its brand. Further, this brand's customers were pursuing a class action lawsuit against the brand.
A luxury brand we worked with had an absolutely beautiful product that typically sold at a 95%+ price discount. This was because the product rarely lasted a few weeks before it broke and was no longer usable. Further, the management team of that brand had no idea who its customers were or why they bought its defective products.
A higher education brand we worked with had no competitive brand position or messaging. They basically said, "We are a college. Come here if you want to go to college."
One brand had a problem with its billing system that made it very difficult for the company to collect its earned revenues.
Another organization's problem was its management team and the toxic culture that it created. Everyone was focused on taking everyone else down, not on doing what was right for the business.
We have been approached a couple of times by high profile personal brands (individuals) who were in crisis mode because they had run afoul of the law.
We worked with another organization that had been taken over by a venture capital firm. That firm was targeting a new customer segment that was completely alienating that brand's core customer segment to "juice" short term revenues so that they could sell the company at a profit.
Another brand we worked with had less than a .5% unaided awareness among its target audience. Very few people had ever heard of the brand.
One brand had not attracted a new customer in over two years. A large part of the problem was nepotism. The business development person was ill suited to the job but the son of the founder.
One business owner had a very high end restaurant that was doing poorly. The problem was a total lack of marketing skills including the nearly fatal targeting of the wrong customer who could not afford the product.
Fortunately, in all cases, we were able to help these brands. However, many of these brands were at a point of desperation before they decided to reach out for help. And some of them had cash flow and other financial problems, making it much more difficult for them to seek the help they so desperately needed.
It is much easier to strengthen your brand when things are going well than it is when your brand is on the brink of failure. In either case, we can help you.
Subscribe to: Post Comments (Atom)
Post a Comment