Image Credits: www.fastcompany.com
Developing a marketing strategy is vital for every business. In order to adapt to the continuous changes and developments in the marketplace, companies tend to revise their marketing plans. Under such circumstances, there is always a possibility to lose focus from the brand’s principal identity.
Whatever the changes be, the brand must be able to uphold its legacy i.e. what it stands for today and what it stood for in the past. However, it can be refreshed according to the new conditions.
Some indicators that your brand is losing focus are listed below along with possible remedies.
With a well-established brand, it is common for both the management and the employees to forget the importance of the branding. Reminding and re-educating the employees about the vision and key values of the company would definitely help in keeping them aware of the message that the company is looking to convey.
It is understandable, at times growth is slow and companies look to add to their product line and start fresh sales. The risk lies where you start offering products that have little or no connection with your brand message.
Yahoo was the premier web search portal with strong sports and financial news coverage that generate revenue in millions. Suddenly, Yahoo tried to charge for services like email and file sharing while Google offered these for free. This resulted in customers moved towards Google providing it with a commanding lead over Yahoo which is still visible. It also started offering job search services, video streaming and entertainment but it was not able to regain the position it once enjoyed.
Image Credits: www.yahoo.com, www.logospike.com
When there are many other aspects of reviving the brand, companies still try to redefine the core message to attract different audience. In fact, lack of unreliable messaging weakens the brand. Nike’s ‘Just do it” has been one of the most recognizable slogan of all time whereas Reebok has altered its brand message approximately 14 times since 1987.
Image Credits: www.brandingjournal.com, www.nike.com
The main challenge for businesses today is to remind customers about the brand and simultaneously, thinking and implementing new ideas to keep the brand interesting. The key factor in this process is to ensure that you do not deviate from your core message.
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