by Kenneth Rudich
Smart businesses are smart because they’re particular about the way they manage their brand image. Those that do will likely have a good one to show for it.
The humble-minded business, on the other hand, is even smarter yet. Why? Because it possesses the wisdom and humility to ask what may well be the most fitting question of all for this day and age: is a good brand image good enough?
For those bold enough to be candid about it, the honest answer is more often no. In fact, the realities of our contemporary world have wrought new implications for building a truly embraceable brand. Whereas once a good brand image was good enough, the better thing now is to make it glow.
As a service to our readers and subscribers, we at M-S-M have developed a 3-part series to explore the concept of making your business brand glow. In part 1, we’ll look at a few key reasons that underscore the rationale for giving this matter some serious thought. In part 2, we’ll discuss what it means to make a business brand glow. And finally, in part 3, we’ll provide some options and ideas for making your business brand glow – without necessarily putting a strain on your budget.
Why Revisit Your Branding Strategy
The pressure to make a business brand glow is the result of several factors converging into one powerful force.
A short list of those factors would contain the following items:
1. The proliferation of networking technologies. These have made it easy for people to readily connect and communicate with one another. As a result, not only does word-of-mouth now dominate all other forms of marketing communications, it has given consumers far greater control over what kind of information gets spread about a product or service. Their opinions and experiences outweigh any other influence a business might try to exert.
2. The competition for acquiring business is stiffer than ever at both the global and local levels. This new competitive fervor is a function of several contributing factors:
- Modern technology has done a lot to level the playing field for businesses of all shapes and sizes.
- The idea that the world is flat, combined with the practice of outsourcing, has whet the appetite of opportunity seekers everywhere.
- A sputtering economy and sobering job market are conspiring to make consumers much more judicious about their consumption habits.
- Consumers are increasingly becoming the epitome of a moving target due to changing demographics, larger diversity of thought and fragmented loyalties.
- A lopsided distribution of wealth poses the threat of a shrinking opportunity for businesses that rely on a broader dispersion of it.
3. A high level of distrust has crept into the collective consciousness of the public-at-large. Until convinced otherwise, their first instinct is to be leery about doing business directly with anyone they don’t already know and like, or have heard about in their network. While getting their attention is one thing, winning them over is quite another.
The Branding Implications for Your Business
Though this list is far from exhaustive, it does capture some critical factors that, in aggregate, make for a difficult business climate. It is the reason a good brand name may no longer be sufficient for keeping your business from losing its luster in the eyes of those who really do matter.
Fortunately, there’s a positive side to dwell on as well. As it turns out, this same set of circumstances offers each and every business a chance to stand apart by constantly polishing its brand image to the point of making it glow. Moreover, it has become all but essential to do so for the sake of survival.
In part 2 of this series we’ll discuss what it means to make a business brand glow. In part 3, we’ll flesh out several options for making your business brand glow. Come back for parts 2 and 3, won’t you?