Brand Challenges and Opportunities

21/08/2020 1 By indiafreenotes

Most Common Branding Challenges

  1. Treating brands as assets

The ongoing pressure to deliver short-term financial results coupled with the fragmentation of media will tempt organizations to focus on tactics and measurables and neglect the objective of building assets.

  1. Possessing a compelling vision

A brand vision needs to differentiate itself, resonate with customers and inspire employees. It needs to be feasible to implement, work over time in a dynamic marketplace and drive brand-building programs. Visions that work are usually multidimensional and adaptable to different contexts. They employ concepts such as brand personality, organizational values, a higher purpose and in general they simply move beyond functional benefits.

  1. Creating new subcategories

The only way to grow, with rare exceptions, is to develop “must have” innovations that define new subcategories and build barriers to inhibit competitors from gaining relevance. That requires substantial or transformational innovation and a new ability to manage the perceptions of a subcategory so that it wins.

  1. Generating breakthrough brand building

Exceptional ideas and executions that break out of the clutter are necessary in order to bring the brand vision to life. These ideas and the execution of them are more critical than the size of your budget. “Good” is just not good enough. That means making sure you get more ideas from more sources, and that you make sure you have the mechanisms in place to recognize brilliance and bring those ideas to market quickly.

  1. Achieving integrated marketing communication (IMC)

IMC is more elusive and difficult than ever in light of the various methods you have to choose from such as advertising, sponsorships, digital, mobile, social media and more. These methods tend to compete with each other rather than reinforce because the media scene and options have become so complex, so dynamic, and because product and country silos reflect competition and isolation rather than cooperation and communication.

  1. Building a digital strategy

This arena is complex, dynamic and in need of a different mindset. The reality is, the audience is in control here. New capabilities, creative initiatives and new ways to work with other marketing modalities are required. Adjust the digital marketing focus from the offering and the brand to the customer’s sweet spot, which is to say the activities and opinions in which they are interested or even passionate about. Develop programs around that sweet spot in which the brand is an active partner, such as Pampers did with Pampers Village or what Avon did with their Walk for Breast Cancer.

  1. Building your brand internally

It is hard to achieve successful integrated marketing communications or breakthrough marketing without employees both knowing the vision and caring about it. The brand vision that lacks a higher purpose will find the inspiration challenge almost impossible.

  1. Maintaining brand relevance

Brands face three relevance threats: Fewer customers buying what the brand is offering, emerging reasons not-to-buy, and loss of energy. Detecting and responding to each requires an in-depth knowledge of the market, plus a willingness to invest and change.

  1. Creating a brand-portfolio strategy that yields synergy and clarity

Brands need well-defined roles and visions that support those roles. Strategic brands should be identified and resourced, and branded differentiators and energizers should be created and managed.

  1. Leveraging brand assets to enable growth

A brand portfolio should foster growth by enabling new offerings, extending the brand vertically or extending the brand into another product class. The goal is to apply the brand to new contexts where the brand both adds value and enhances itself.

Brand Opportunities

  1. Customize your office space

Customers and employees interact with your brand whenever they’re in your office. That’s why your office space offers a great opportunity to reinforce your brand image.

  1. Leverage the networks of your most satisfied customers

Much like employees, satisfied customers can have a huge impact on how others see your brand. From word of mouth and social media to online reviews and testimonials, consumers have an ever-expanding range of opportunities to share their thoughts about your company. Channel your happy customers’ positive vibes by encouraging them to provide testimonials, refer your product to their friends, and share your content on social media.

  1. Be strategic and creative on social media

Most companies use social media these days, but not always as effectively as they could. Don’t overlook the power of leveraging influencers, running paid campaigns, and sharing content that your customers find valuable.

  1. “Get out, join, and volunteer”

When building a personal brand, people are often advised to get out into the world by volunteering, networking, and joining groups. The same strategies can work for building your company’s brand. Make connections with stakeholders and relevant groups and businesses as a way to convey your company’s image to others.

  1. Harness the power of video

Especially with the rise of mobile, video is an incredibly powerful branding tool. It offers a unique and dynamic format for connecting with current and future customers.