Best Ways to Destroy Your Brand - Pt. 2
Posted by Jaci Russo
Budget Cuts
This week we are looking at the five best ways to destroy the brand. Yesterday we focused on Discount Sales. When a business discounts prices they position themselves as cheap instead of valuable and it will diminish the brand. The consumer is prevented from making an emotional connection and is forced to think of the relationship from a transactional point of view.
Today, we will look at another great way to destroy the brand, cutting the budget. Often companies look to the marketing budget a place to make a first cut to improve the bottom line. However, this is only a short term fix and unfortunately a very short sighted one. Although, it is a great way to destroy the brand.
Business journals are filled with case studies of companies that have maintained or increased their marketing budget, especially during lean economic times. This has enabled them to maintain and then grow their “share of voice” within the market, which then leads to an increase in market share and top-of-mind brand positioning. When the market improves the company then experiences exponentially better growth.
When everyone is flourishing and spending, it is very hard for your company to break through that clutter and connect your message with consumers. When the competition is quiet, or when you can find a channel where they aren’t dominant, then your message can be heard without their noise interrupting you.
So if you want to destroy your brand, then be sure to cut your budget and spend what’s left in the same channels as your competition. If, however, you would like to grow your brand and improve the bottom line, you should invest in the relationship with your consumers. Invest when the competition isn’t spending. Invest where the competition isn’t spending. Most importantly, invest better than the competition.
You have to change the conversation so you aren’t saying the same thing everyone else is. When you say something better then you can be heard.
Focus your message on your authentic core competency which is relevant and beneficial to your consumer. When you are able to make an emotional connection with them then and only then will they become brand advocates for you.
