Brand position and brand value are always topics that draw a lot of interest. From the CEO on down, the brand is important, and most organizations get that. With the current economic times being what they are, marketing professionals need to pay attention to how the brand is perceived in the marketplace. Has it lost some of its glow or have things changed in the organization? Has the industry you serve changed? If you answered “Yes” to any of these questions, read on, maybe it’s time to brush up your brand. Over the course of the next two blog postings, we will address this topic and point out 10 unmistakable clues that could point towards your need for brand development.
Have you lost market position?
If you were number one 10 years ago and number three now, there may be a number of things to fix. Tinkering around the edges won’t get you back to the top spot. Start with your brand.
Are your marketing investments delivering diminishing returns?
You’ve done media advertising, direct mail, and SEO. You’ve invested in CRM and new collateral. But no matter how much you spend, you get just about the same results. Sure, the world of media is changing. But could the big problem be your message? New executions and new media won’t fix it. Time to pay attention to your brand.
Are you dissatisfied with your logo?
Everyone gets tired of their logo at some point, just like we get tired of the same old clothes. In most cases you’re probably best advised to leave it alone (the logo, not the wardrobe). But if your logo doesn’t seem to fit who you are, and you don’t quite know why, it’s time to ask yourselves what your brand’s all about. And you’d best figure it out before you redesign the logo.
Are you dissatisfied with your name?
Your name is kind of like your logo; if it doesn’t fit, you need to know why. Funny thing, in the course of brand development you may decide it makes sense to retain your name, but you’ll find yourselves becoming a company it fits better.
Has there been change in your business strategy?
Your brand strategy is the “face” of your business strategy. So it almost goes without saying that a significant change in business strategy should provoke a long hard look at your brand.
Stay tuned for more tips on brushing up your brand.
