Why Even Powerful Brands Flop
Copyright (c) 2010 Leo Blanco
Branding is like falling in love. It’s all about building a strong emotional bond with your customers and hopefully they will be loyal forever.
And just like any romantic relationship, your brand too can be shattered into million pieces. Everything is damaged or lost whenever that wonderful relationship is stained. Since branding is somewhat based on emotion you have to be careful not to mess with it. One mistake and you may not be forgiven.
The recent recalls that happened to Toyota and Infantino baby sling carriers clearly demonstrate the harsh punishment for not meeting customers’ expectations. In fairness, some brand breakdowns are over and above your control for example financial economic breakdown and natural disasters.
This article is focused on controllable problems leading to brand collapse:
Exaggerated Claims. Some companies deceive consumers by promising more than they can deliver. Worse, they claim something that their products cannot even do. These acts of deception are beyond forgiveness. You will encounter this malpractice in so many information products or e-books about making money online. A number of so-called online marketing experts maliciously promise any person can gain $300 per hour in exactly seven days! Imagine that!
Product Obsolescence. Consumer behavior and market demands shift from time to time. Technology is one of the primary reasons why some products like typewriters and pagers are now considered antiques. These days consumers are more supportive of eco-friendly products and vigilant about any products that harm Mother Nature. Keep yourself informed about the dramatic changes in your industry and continuously improve your products or services offered.
Being complacent. Success is a double-edged sword. Earnings tend to be larger but there exists an inclination to loosen up and build up some sort of ego. Some branding experts say it’s hard to be number 1 but it’s harder to keep that spot. Competitors will strive harder to bring you down and I guarantee you they will do everything to make your brand fail as quickly as possible.
Brand Hyperextension. Everything has a limit and we must learn to embrace this dictum. Then again, a number of brands basically desire to dominate the entire planet so they exploit entirely new and unrelated categories. Such bold moves lead to depletion of resources and increase in competition. Great companies including Campbell’s, McDonalds, Coca-Cola, Ford, Virgin, and Bayer suffered failure and losses due to brand overextension. Focus is the key.
Too much branding. In some cases, we’re guilty of too much branding that leads to confusion and miscommunication. We get way too paranoid and over persistent to develop our brand image. Some entrepreneurs are guilty of constantly changing their logo design and ads or making too much unnecessary product improvements. Much like any kind of flower, branding requires some time and nurturing in order to bloom.
As the maxim goes experience is the best teacher but I beg to differ. I would rather benefit from downfalls of others so I will not have to bear any kind of deficits. I hope by reading this article it will help you build a better brand too.
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