A LAST WORD: YOUR BRAND IS A PRODUCT TOO
At home, there is a Mac monitor devoted to the last 12 years of brand mention data for the 27 small, medium, and large brands that I closely follow. Some are doing just as fine as ever, some have peaked, and some of have yet to do so. The monitor serves no other purpose than understanding who’s winning or losing, peaking or falling. In a world of highly-funded challengers, incumbents lose ground on a daily basis.
For the brands that have peaked, the most frequent reason is a divestment in brand statements and an increase in the focus on programmatic ads and other automated means to maintain a level of visibility. Brand statements include: experiential retail, ambassadors, branded content, and efforts to maintain a community around the product that you sell.
The misconception is that a brand is just a bi-product of your efforts. Some business owners see it as an inconsequential, invisible possession. I’d argue that the brand is the most important SKU in the portfolio. It’s the most important product that a company manufacturers. We’re watching product market fit shift beneath companies at an accelerated pace and often enough, a strong brand is what separates the stable and the depleted. A strong brand is worth the investment.
See more of the issue here.