The New Year is a time for individual reflection andre-evaluation. But in addition to plotting your personal progress, what aboutyour business? When was the last time you sat down and examined the progress and health of your brand?
"Health of my brand?" you ask.
Yes. Just like people, businesses and markets change overtime. And sometimes those changes are so slow and so gradual that we wake up tofind our products and services outdated, out-of-step and out-of-shape. Inshort, our brand has become "sick." Here are some of the most commonculprits.
Geographic gridlock
In this scenario, your company started in one locale and hassimply outgrown the market. It's easy to see this trend in larger companies,such as Southwest Airlines, which now flies all over the U.S. Not only are these names restrictive, they are also uninspired. If your company has acity, state or regional name, you may be telling potential customers to goelsewhere.
Product paralysis
Much like geographic gridlock, product paralysis starts withall the right intentions. A company wants to be known for their star (andsometime their only) product. So they include it in the name. Once they'veachieved success in capturing that market, they naturally want to expand intoothers. The problem is their name. So companies such as Just Brakes develop atagline to overcome the problem. "We're more than Just Brakes." Theirony is that marketing dollars are then spent trying to shed the nowsuffocating stereotype caused by their core product. Better to re-brand with amore open and encompassing name. It's better to communicate who you are thanexplaining who you aren't.
Attribute aches
This is another easy trap in which to fall. In place of a product, companies associate themselves with one key attribute -- and then pay the price. What if EconoLodge ever wants to improve its rooms and raise its rates? Is Quality Innreally the luxury leader in the hotel business? It's not that these names can'twork, they often do. It's just that they forever commit a company to thatstrategic positioning. And sometimes companies outgrow one mode of service.They may no longer want to be the low price leader. Or they may find itdifficult to meet the expectations created by words such as"superior" or "ultimate." If you find yourself tired ofjumping through hoops everyday, it may be time to lose words such as"Sonic," "Speedy," or "Express" as part of yourname.
The Identity Crisis
This is perhaps the most dreaded category of brandingdilemmas. It happens when a company's core competency evolves to the pointwhere they are basically in an entirely new business. In this scenario nearlyeverything in their business has changed over the past several years -- exceptfor their name. For instance, a web hosting company may gradually transition to providing offline IT consulting. But with "web" in the name, theywould forever be fighting to explain their current business. Imagine if 3M hadnot re-branded and stayed with their original name . . . Minnesota Mining andManufacturing. It would take more than a Post-it note to make that name stick.
Keeping a brand healthy is really no different than keepingyourself healthy. It just requires a few checkups and some simple exercises.Make sure to ask yourself, your current customers and potential customers ifyour name, tag line and logo really reflect where you are as a company. Doesthe name evoke the right feelings, convey the right ideas and make yourcustomers want to know more about you? Or does it mislead them, confuse themand require constant explanation. The first few seconds of an introduction arethe most valuable real estate in the branding world. Make sure your brand imageis healthy and vibrant, and you'll not only liven up the business -- you'llrevitalize the bottom line.
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