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Engaging in any one of these could sabotage your brand.
By: Lynn Parker | 03/18/2009
URL:http://www.womenentrepreneur.com/2009/03/5-brand-busting-mistakes-to-avoid.htmlIn my 25 years as a branding consultant, I've seen companies make major branding mistakes, some realdoozies. One company wanted to tout itself as the most innovative, even though it spent zero dollars on researchand development. Another acquired a well-respected competitor and then immediately changed its name, leavingmillions of dollars worth of good will on the table. Those are obvious offenses. Many other companies makeall-too-common--subtle yet avoidable--mistakes that sap the value right out of their brands. Here are five I wouldcaution against.
Mistake No. 1: Equating branding with communications.
Yes, branding includes communications. But if your branding strategy is all about messaging and advertising and nothing about business strategy or people, then youwon't be able to deliver on your communications. If you have lousy customer service, telling people it's great willonly drive customers away faster. But investing in training and infrastructure to improve service will enable youto market your great service and still look yourself in the mirror As more information about companies andproducts is available online, a great company and product are your brand's only defense.
Mistake No. 2: Branding on price.
Don't do it. Basing your brand on your low price is a race to the bottom--andsomeone will always beat you there. Even if your prices are the same as your competitors' prices, you need togive clients compelling reasons beyond price to buy from you. The difference between the product offered byMorton Salt and a supermarket's house brand? Not much. The difference in pricing? Fourteen percent. Thatmargin is due to how well Morton has built up the intangible parts of its brand. Establish trust with your customers,and you can breathe a lot easier when the newest competitor undercuts your price.
Mistake No. 3: Changing your promise.
Like a dog sniffing at a fire hydrant, every time a new marketing vice
Welcome to WomenEntrepreneur.com! http://www.womenentrepreneur.com/print/article/846.htm1 od 2 28.10.2009 7:57
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