In a business landscape that is constantly shifting and more prone to risk, building a strong, consistent brand keeps your business buoyant through unpredictable times.
Building a strong brand is about creating the fundamental framework for business growth and success through unlocking differentiating truths, consistency in delivery and presence, and useful engagement that delivers true ongoing value to people.
This means establishing your north star (your WHY) the one guiding light all business functions, decisions and customer engagement activities work into; determining the unique attributes of your offering – be it product, service or methodology; then, developing a system of brand principles that deliver on the core attributes and beliefs of the company, which are strictly adhered to ongoing.
As much as the world likes to innovate, blow up categories, invent new products and services, consumers above all appreciate consistency. Imagine if McDonalds suddenly uprooted from bricks and mortar stores, ditched their golden arches and changed their colour to blue? Consistency adhered to over time builds familiarity which builds trust; trust increases the likelihood someone will invest in that product or service and then – and this is the ultimate success - recommend it to others, over your competitors.
Trust is the one thing someone tethers back to in tougher times.
A strong, trusted brand mitigates risk, for both parties. It’s that simple.
The current uncertainty of the business landscape means that marketing is under the ROI microscope of company c-suites and boards. Traditionally, advertising is the first to be parked when purse strings are to be tightened or funds are deemed essential to be redeployed into other risk-mitigating areas. Marketing investment is then relegated into short-term sales - the sugar hit to create the spikes of justification in charts to shareholders. Businesses must unshackle themselves from the mindset that long-term brand building wastes money and doesn’t equate to sales or revenue growth – quite the opposite.
The reality is, if you have a strong brand, you need not invest so heavily into activities such as promotions, media and PR – the groundwork is already laid. Think of it like automation; a strong consistent brand creates ongoing automated recognition, appreciation and, if the product stacks up, admiration over and above undulating sales spikes.
If you are a board member, CEO, COO or CFO, we urge you to reappraise your business’ risk assessment criteria. A weak brand opens you up to as much risk as the unknowns of cyber security and AI. Listen to your CMO as much as you do the Security and AI savvy CIO you’ve just hired.
In the ever-shifting business landscape and its associated risks, the strength of your brand can be the difference between sinking or swimming.
Grab your floaties, and let’s chat.
