In a flap
I’m always fascinated when companies blame market conditions or competitor behaviour for their own misfortune. Fascinated – because, dig a little deeper and often their dilemma is a result of their own intransigence.
All posts tagged: signals
The Rule of Three: why profitable brands are usually very big or very small
This article from some time back by Jagdish Sheth and Rajendra Sisodia sheds fascinating light on the business case not just for expanding brands but also shrinking them as well. According to the authors’ “Rule of Three”, the quest for scale is quite literally a race first for dominance and then for survival. But if you can’t win, don’t try.
Brand personality: how does your brand respond to parody?
Talk by Starbucks this week of “next steps” following a Comedy Central prank that parodied their name raises the question of what should brands do when the borax is poked?
Tell your customers the history of your attitude
Isn’t this such a great thought? “Don’t build a product, then try to market it. Instead, build a customer attitude, then build a product to match that attitude.” It’s part of an absorbing and insightful article by Graeme Newell on why you shouldn’t focus your advertising around your product.
Brand and the ability to devastatingly disrupt
Thomson Dawson wrote a provocative and challenging article about “devastating innovation”. Brands that weren’t prepared to innovate far beyond their comfort zone, he suggested, would be devastated in the blink of an eye. What’s more, the fallout from such innovation would reach far beyond immediate competitors to wither those who never would have imagined they were at risk.
Customer retention isn’t just about more selling
It’s occurred to me recently that the interesting changes in customer attitude that accompany brand commitment are not necessarily on the radar of enough companies.
What’s the difference between a lovemark and a trustmark?
This article in Harvard Health Blog in many ways mirrors why consumers take comfort in choosing branded products generally. A brand name means they know what to ask for. They believe in the quality that they associate with the brand. The distribution system believes in the brand.
Always be interesting
Some years back, Paul Dunay wrote a post that has always stuck with me. Be what interests people. To me, that is everything a brand strategy should aspire to, captured in four words. And yes, on the one hand, it seems obvious. But don’t let the simplicity of the statement fool you – because whilst “interest” itself is a deeply familiar concept, it is also an elusive one.
Purpose vs vision and mission
I hope the days of vision and mission statements are nearly over. They’re the paperwork of traditional management models. They’re strategic compliance, and as such, they get deliberated over at great length and then forgotten. For the most part, they’re also self-centred – all about what the organisation wants to achieve for itself, all about how it intends to achieve whatever it deems important. They often don’t suit the much more open, interactive, social ways in which business is increasingly being done.
Maintaining brand loyalty: 4 ways brands get it wrong
Most good marketers know how to gain top of mind. Good marketers are adept at widening the funnel at the top end. They’ve good at introducing new lines, new variants, new dimensions – in order to attract new customers. They know how to work with their agencies and their internal teams to fashion a story that intrigues to draw an audience. They know how to weight media flights and craft promotions that persuade consumers to call or to visit. They’ve learnt to charm. Competition’s taught them to do that well. That used to be their biggest challenge.