3 LITTLE THINGS THAT KILL BRANDS

I am sure you know Coca-Cola even if you don't drink it. You might use a computer made by another company but you sure do know Apple. Some of us don't even have a McDonald in our towns but this surely isn't your first time of hearing that name. Although these businesses have different interests, they've all got one thing in common...a great brand.

Whether you are a business veteran or you're just dabbling into your first venture, we all have heard about branding; which can be simply said to be the complete identity of an entity. Your brand is the outward appearance of your core internal values.

The Coca-Cola brand name in itself is said to be worth more than its entire product line. This is an example which portrays the value of a brand. Over the years, many businesses have failed because of failure to define or manage their brand properly.

Unknown to many, the brand is very much attached to the core of the business. A failing brand cannot be revived by pumping in money because money has very little influence on a brand. On the other hand, issues that are seemingly insignificant are what determines the strength of a brand more than any other. Your brand is your value, you brand is your message, it also is your promise.
Amidst many others, here are three little things that kill brands.

1. FAIL ON YOUR PROMISE: People buy from great brands not necessarily because they make a great product, but because they constantly deliver on their brand promise. For example, Walmart's promise is cheapest prices, Apple promises innovative designs, Virgin's promise is the best customer service. These businesses have succeeded because they have built a business structure that consistently delivers on their brand promise.
Customers patronize you because they expect something from you that your competitor doesn't offer. The moment you fail to deliver on that promise, they will begin to look elsewhere. So if you really want to build a strong brand, define your brand message, and build a business model that helps to consistently deliver that promise.

2. INCONSISTENCY: As with many other endeavours, consistency is pivotal to sustaining a brand. It is what gives first time customers the confidence to become repeat customers, and it is what makes repeat customers become your advocates. Consistency is the ability to maintain your core brand values amidst the turmoil of the ever-changing business environment. It means complete and continuous alignment of actions with expectations. Coca-Cola has been around for over a century, it has gone through several recessions and wars, its made many errors, but its brand values have remained the same.
Entrepreneurs who focus on trying everything will burn out fast. Know your strengths, build systems that leverage your strengths, and stick to it.

3. LACK OF ACCOUNTABILITY: We have emphasized the need to consistently deliver on your brand promise. However, that doesn't mean you must become "failproof". Even the big brands have had blips along the way. But in order to keep growing your brand, when those blips happen, be accountable to your customers. When many businesses run into problems (if you stay long enough in business, its inevitable), they try to gloss over it or sweep it under the carpet. Your brand is a promise, if for unforseen reasons that promise fails, own up to it and restore the confidence of your customers. People want to know that you care about them; so you should get in front of the customer, be accountable, and be sincere in your efforts to correct the wrong. That puts everyone at rest, restores confidence, and strengthens the bond between your brand and your customers.

Understanding the dynamics of a thing teaches you how best to deal with it. A brand is vital to the sustainability of any business; these lessons are vital to the sustainability of any brand. Business is easy, just understand it.