BRANDS THAT WON’T DISAPPEAR
While some companies such as Interbrand, Millward Brown Optimor, and FutureBrand are focused on establishing a ranking of the strongest brands worldwide and estimating their value, 24/7 Wall Street takes quite the opposite approach. Every year, the publication compiles a report of brands that are likely to disappear in the near-term. Both approaches are interesting, and confirm that success of the business is often correlated to health of Brand.
Unfortunately, many brands disappear every decade. Sometimes the economic context plays against them, but most of the times the brand is not able to capture opportunities from the market, the customer, or innovation.
So how do you build a strong brand?
Everyday, keep in mind these three basic principles when you manage your brand. Big or small, strategic or tactical, national or international, no matter how important the decision is, don’t forget these three principles:
Put your brand at the middle of your business strategy. Brand is not a badge you stick on your offer. Brand is a tool that sits at the heart of your organization and helps you drive every decision you make about your offer, your capabilities, your culture or your image. In order to be a powerful tool, you need to have a strong idea behind your brand.
Deliver on customer expectations. It’s not what you say that matters; it’s what you do. Listen to your customers, surprise and delight them with experiences that make their lives better. Your brand is not what keeps people loyal - the product itself is what drives people to buy.
Be transparent. Communicate with your employees and use Brand to engage with them. Invite your customers to be part of the creation of your offer. Use Brand as a platform to empower people to co-create the experience. For example, use social media to create a conversation with your audience and build relationships with them.
(Jean-Yves Minet)
