How to Maximize Your Brand's Potential Through Hidden Opportunities

These Signs, While Scary, Can Point the Way to a Stronger Brand

A brand is more than your company name and logo. It's the essence of your business, a blueprint that helps define who you are, what you provide, even the kind of people you hire. Understanding and making the most of this blueprint is the only way you can harness the power of your brand and rise from simply good to excellent performance.

As a business owner, you're presented with many opportunities, sometimes cloaked as negatives, to evaluate if your brand is strong or if it's beginning to weaken. How do you recognize those signs, and how do you rectify the situation? After working with many businesses that have come to us for integrated branding solutions and strategic thinking, we've identified the following:

Your margins are shrinking.

Maybe raw materials have gone up. That's understandable. Perhaps your competitor has lowered prices, and you're tempted to follow suit. This isn't a financial problem; it's a brand problem. Don't fall into the price war trap! Once you do, you'll never be able to stop. Instead, differentiate your brand to demonstrate its value and show why it's worth more. Value is a consumer perception, and consumers who know the worth of your brand are willing to pay more.

Your sales are eroding.

Competitors are winning the new business opportunities. Customers are voicing dissatisfaction with quality. Employees aren't sure how to cross-sell and promote new products. What is cleverly disguised as a sales problem is really a brand problem. Conduct a brand audit and get back on track. Align internal brand communications with marketing messages for better customer service. Launch a public relations initiative for positive brand impact and awareness. Execute a 1:1 consumer relationship marketing campaign for targeted cross-selling opportunities. And most importantly, confirm that your sales force understands your brand. They are the most effective day-to-day proponents of your company's brand message.

Consumers aren't responding to your advertising campaigns.

Chances are, you need to trend consumer attitudes from the point you noticed your sales numbers were falling. Is your brand positioned to address consumers' wants and expectations? Does your product offering reinforce that brand positioning? Advertising and communication messages need to be timely, too. There's nothing worse than an obsolete ad – it makes your brand look yesterday's news.

Your competition has raised the bar.

A competitor has launched a dynamic Web site with 24/7 order access. What appears to be a technology challenge may be an opportunity to further establish your brand. Your instinct is to implement a better technology system. But a "me too" strategy chases your competitor's brand. Think different. Think your brand, and turn the tables. Position yourself as the personalized brand by installing a 24-hour toll free number – staffed by real people.

You're experiencing industry changes.

Change is the only constant, but a well-built brand survives the twists and turns of change. In fact, change stimulates, refreshes, and propels brands to remain innovative. Simultaneously execute a long – and short-term strategic brand plan – an intergenerational strategy, if you will. Establish a long-term marketing direction to build upon proprietary brand elements. Concurrently, execute short-term advertising and communications plans for immediate return. Track trends in anticipation of the future, and confirm that each decision complies with the original brand strategy. What appears to be an industry challenge may be a brand opportunity.

Your company's reputation is being challenged.

A recall can be a nightmare. A blemished corporate image can be embarrassing at best. What appears to be a reputation challenge is an opportunity to demonstrate the essence of your brand. Take immediate steps and be proactive. Work with a public relations professional who understands your company's brand and position. Be forthcoming with consumers about the issue and your proposed corrective actions. Issue internal communications with branded messages, facts and appropriate responses. Your employees are your best brand ambassadors in a time of crisis.

Your employees are cranky and have lost faith in the brand.

The staff is strained and cranky. Morale is in the tank. The management team is engrossed in economic survival and has lost perspective on the business of the business. Typically, employees react and begin to feel stressful about job security, and as they lose faith in the company and its brand, customer interaction suffers, and more business is lost. Stop the hemorrhage and recognize the value of strong leadership. Lead with explicit objectives, not implicit ones. Keep your attention firmly affixed to the goals and the end results. Diverting your attention from the core essence of your business – the brand – will only dilute your efforts and fragment your energy.

These signals represent an opportunity to evaluate your brand promise compared to your performance. Let your brand architecture guide your decisions about capital investment, business improvements, employee motivation and customer satisfaction.