How to protect your brand from declining relevance.
How to
Above | Employee sneaking in some exercise on their lunch break
In today’s rapidly evolving marketplace, brands must understand the world of their customer in order to address their changing needs as soon as they arise.
Essentials to consider
Brand versatility wins the fight.
In today’s rapidly evolving marketplace, it’s difficult enough to catch up with ongoing changes and industry innovations, let alone excel. But, the best protection in an increasingly competitive and evolving market is a versatile and flexible brand, backed up by the facts and figures from an ongoing analysis and forecasting analysis, which is a crucial ingredient to handle fast-moving customer expectations and technological advances.
Find new ways to connect.
With technology continuing to set a cracking pace of innovation and inspiration, watching the traditional barriers to entry fall is the latest spectator sport in the business world. The fact is that just one fresh idea can be a game-changer. And it might hit at any moment. Think about how quickly the impact of disruptors such as ChatGPT, Uber and Airbnb made their mark. And that global fleet of driverless cars is getting closer every day. No industry is entirely immune, and digital technology will continue to impact the world as it has already on how business is done. The changes that are currently upon us could hardly have been predicted just one generation ago. In the coming years, there will continue to be many new ways of doing things that we can’t yet imagine but will soon become, no doubt, an everyday reality.
The futility of spin.
PR agencies once did fantastic work. They doctored spin to maintain brand reputations, and the scandal was covered up almost as quickly as it began. But this is the age of the silence-breakers. News spreads, whether positive or negative, and it travels fast. The challenge for brand managers is to face this new era of truth and navigate brands through a society where disruption is a daily occurrence. Customers no longer accept decisions made by brands. They lead the outcomes they want to achieve, and if they don’t get their way, social media provides the global platform for their voice to be heard, and it’s only getting louder. So when brands get it right (and many do), it’s worth looking closer to see what can be learned.
The beauty is the balance.
Why do some brands succeed where others fail? We believe it’s all about balance. Agility is everything, and although maintaining your position on shaky soil crowded with competitors might seem challenging, the reality is that, with a solid foundation of brand awareness and well-considered strategy, you can create your own balance, even in the rockiest terrain. Genuine agility can only happen when two things are mastered. The first is that foundation, the understanding of what your brand represents and where its values sit. And the second? That’s about adaptability, resilience and being agile enough to weave and dance and keep crafting a message that’s relevant and responsive.
Prioritise strategic planning.
What does it actually mean to be agile in the market? More and more, agility is an expectation that all brands are required to meet and exceed. That doesn’t mean rushing into things without thinking them through. And it doesn’t mean acting on impulse without the safety net of research to support your decision-making. True agility happens when things are meticulously planned and with decisions built on knowledge and a long-term vision of genuine purpose. So, simply asking yourself how versatile your brand is isn’t enough unless the question can be answered with absolute honesty. And if it’s not the answer your brand needs to succeed, it’s time to make changes that enable your brand to pivot when needed, as long as that much-needed congruency of brand values and ethics underpins every move you make.
Picking up the pace.
Moving faster can happen with suitable systems in place. Investing time and money in creating and implementing efficient processes may slow you down in the early stages of business-building, but it will add pace in the long run. Analyse your market and work out ways to put effective systems in place to ensure you can deal with every possible eventuality without hesitation. Genuine agility is about understanding the needs of your clients and customers and knowing how to address their changing needs as soon as they arise.