When they take their customers for granted. Walk down any high st these days and there will be at least two empty shops which had housed big High St brands – yes, we are either in or just coming though one of the worst recessions for 30+ years but the brands that have sustained their position or even improved it, are those that treat their customers as if a recession is not something that comes and goes but is a constant. Brands that treat their customers with respect, understanding that they have a choice, that they need to earn their custom and continue to earn it. When the cost of customer acquisition can be so high, why do big brands then let that customer go through poor product, service and after-sales? It’s a no brainer. Treat every day as if you’re in recession and you’ll work harder to maintain your customers– you may not be able to afford to go get them again.
Building and maintaining a strong and differentiated brand is probably the most difficult challenge facing B2B brands today.
The reason? Consolidation and diversification are blurring the boundaries. What was once ‘the competition’ is now seen as a ‘Business Partner’. As markets continually evolve and the landscape changes, brands need a vision that’s underpinned by a deep understanding of their audience, what they want and need, and how to communicate with them.
How do you build a brand that will withstand the tides of change, as well as compete successfully over the next ten to twenty years? Acknowledging the fact that your brand is the unbreakable promise you make to your employees, partners and customers is a good place to start; it’s the articulation of who you are and what you stand for, forever and ever, amen.
Of course, what you promise, you must deliver. Brands that fail are ones that invest huge budgets in building their proposition and brand equity, only to see it undermined by a workforce that doesn’t understand or is unable to deliver the promise. Achieving internal buy-in and understanding is as important as the external communication.
Make sure your brand excites, engages and delivers. And with regular brand audits you can ensure your brand stays fresh and continues to get noticed. For all the right reasons.
Ready to meet the challenge?
Darren and Lisa are our latest experts to express their point of view – and it just so happens they’re on opposing sides of the aisle. Darren believes that ideas are everything, Lisa believes it’s all in the data.
Watch Darren and Lisa go head to head as they discuss the relative merits of creativity and science. Then cast your vote in our online poll and join the debate.
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