I've been thinking about brands and what they stand for. Especially given the tumultuous times.What do specific brands embody for customers? Are they strong and venerable? Trustworthy? Approachable? Dependable?
Consider high-and-mighty brands like Lehman Brothers, Bear Stearns and AIG that have taken a tumble. Did they take seriously their promise to customers?
What about other brands? Brands like Apple, Nike, even Starbucks. How closely does their reality match up with my expectations for those brands? How much can I trust what they stand for?
What about your brand? What does your brand stand for? What does it promise customers? Can you look customers in the eye and tell them that you stand for their best interests? That they can count on you to meet your promise? A promise that holds true regardless of the economic climate. "Even when there isn't an economic downturn, retailers should stay true to their fundamental brand values and create meaningful and differentiated points of view," state Bertrand Pellegrin and Ted Jacobs in an article in the DDI Magazine July 2008 issue titled "Brand strategy for the recession-challenged retailer."
They add that "a recessionary retail strategy is about consistently reinforcing the value of the brand experience on every level, exploring new and innovative ways of articulating it and bringing a sense of discovery and excitement..."
What is your fundamental brand value? Do you offer a meaningful and differentiated point of view? Do you offer a sense of discovery and excitement?
Your retail brand is the result of store premises, merchandising assortment/approach and operations [i.e., your people] all collaborating to deliver a brand and store experience that had better be unique to you, and stand for something that matters to your customers.
Bruce Odette in the August/September 2008 issue of Floor Focus in an article titled "When the economy's in a downturn, get better at what you do" focuses on people when he asks three questions that retail salespeople had better agree enthusiastically to if your brand is to matter:
- Are they passionate about flooring?
- Do they want in their hearts of heart to deliver a truly memorable customer service experience?
- Are they completely committed to creating beautiful flooring solutions for customers?
Barry Silverstein in "Brand Progression in a Recession" explains that "well-established brands that represent both quality and value to consumers can actually benefit from a recessionary economy." At the same time, "beyond quality and sheer market weight, brands must be ever more relevant, trustworthy and flexible. They must constantly be in tune with consumers' values, evolving needs and lifestyles..."
Which only reinforces what Tim Girvin recommends in Tim Girvin - Trends in Story, Brand and Experience Design: make sure your brand stands for something, that it has an authentic story behind it. That differentiates you, makes you highly competitive and uniquely positioned. It should not only be relevant, but also resonant, human and warm, truthful and authentic, creating layers of connection.
Have you asked yourself what your brand stands for? If not, it's definitely time to do so.
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8 comments:
That's a very interesting post Christine and I'll be writing something on the subject today.
Starbucks is losing shares against Cafe Nero in the UK for instance. Consumers have been dissapointed by the quality of the coffee. Starbucks decided to introduce a scheme where whenever you buy a coffee you get a free top up - sadly for Starbucks that didn't quite go according to plan as consumers still prefer Nero!
Apple: I read something in the financial paper the other day, that despite l aunching the newNano 4th generation, Apple are holding back on innovations until the financial climate gets better...
CB
I had the pleasure of seeing Sir Terry Leahy the CEO of Tesco speak at the World Business Forum yesterday.
And he has a total customer focus (as you may be aware) at Tesco.
His advice for a downturn such as this is - "Think Customer – reset your business to what customers need right now. Customers can change faster than companies."
the full review of his speech is here http://buzzmarketingfortech.blogspot.com/2008/09/focus-on-your-people.html
Paul,
What a fantastic opportunity and learning experience. It's both grounding and humbling to have that kind of total customer focus. Something we can all learn more about.
Thanks for mentioning it here.
Lolly, I like the examples you mention and look forward to reading your take on this.
What Paul describes - total focus on the customer - is getting even more critical. Ad Age recently [i.e., Patrick Hanlon] mentioned that we are now in the 'pick economy' where the customer gets to pick [vs. push/pull strategies]. So, if companies aren't focused on their customers, they will miss out.
Thanks for adding to this discussion.
Thanks for the kind references, Christine. I did have a connection, interestingly enough, with Chris Ramey...Will try to get down there, to explore. Obviously you've had a long link with him, I'm presuming?
What I personally wonder about, to your investigations, is -- "what do you stand for?". Meaning, literally, the brand leadership, the person that lies at the heart of the enterprise -- what's the character of enlivens the soul of the organization. It's something I'm wondering about.
Especially, as you note, given "these tumultuous times"...
Warmest regards --
Tim Girvin | girvin@girvin.com | http://www.girvin.com | http://www.tim.girvin.com/ | http://blog.girvin.com/ | http://tim.girvin.com/Entries/index.php
With the Top 100 brand rankings announced from Interbrand, it's a very logical time to think about what makes a brand strong. Ironically, the list includes AIG and Merrill Lynch. In order for consumers to continue to believe in their favorite brands, businesses need to actively manage and strengthen their image. At Schawk, we have found that packaging is an increasingly critical factor in managing your successful brand -- with more than 70% of purchase decisions occurring while shopping. As brand builders, we can create an enhanced visual experience allowing a brand to resonate with a consumer thereby strengthening brand affinity and increasing loyalty.
As important as design is, it is essential to remember that is only one of many important factors in the marketing equation. In order for a brand to resonate with consumers, it needs to deliver a compelling and consistent brand experience across all touchpoints – in the store, on the shelf, in a magazine on a billboard, digitally, etc …
When a company integrates strategic, creative and operational excellence to deliver consistent and compelling brand experiences across mediums and geographic locations -- that's integrated brand point management.
Brand point management helps companies deliver brands that are compelling enough to turn shoppers into buyers. The category of brand point management touches all phases of a product’s life – from ideation to design to market implementation – ensuring that whenever a consumer interacts with a brand, the experience remains consistent throughout. To learn more, here is some information about brand point management: http://www.docstoc.com/docs/854644/Brand-Point-Management.
Schawk has created a new online community to facilitate discussion around the issues and ideas that lead to having quality brands that resonate with consumers. The community is free for anyone to join, but registration is required. To check it out, please visit www.brandsquare.com.
Tim, you ask a most pertinent question. There must be continuity between product, organizational and leadership brands if either brand is to stand for something. Otherwise, how can we trust it if we encounter inconsistency?
Thanks for adding your perspective.
I think you will enjoy your explorations with Chris Ramey.
Best,
Christine
Miguel, I love the notion of integrated brand point management. It gets to the heart of making sure your brand stands for something consistently across all touch points.
Thanks for sharing what Schawk has done.
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