How many brands or products were once objects of our desire, only for us to now no longer recall their names? A serious threat facing most brands in increasingly dynamic markets is the loss of relevance because the category they are serving is declining. New categories or subcategories constantly emerge and the loss of relevance can happen even if the brand is strong; customers are loyal; and the offering has never been better, thanks to incremental innovations.
For example, a newspaper or magazine can have the best new coverage and editorial staff, but if readers are diverted to You Tube vloggers and bloggers, relevance will decline and in some cases, unfortunately has.
How then, does a brand stay relevant, competitive and marketable? Two thoughts to adhere to are ‘observe’ and ‘adapt’.
Observe the Customer
From focus groups to monitoring social media chat, a brand must always be alert to the interests and buying habits of their customers and potential customers. Really get to know your customer. Who are they? What’s their location? How old are they? What are they interested in and don’t forget and most importantly, what do they need and what are their challenges? Answer the latter to gain real insight. The press for example, produce media packs and know the demographic of their readers. So in turn, if you know your customer, you’ll be able to match this information to the magazine or newspaper’s reader. Knowing your customer gives insight and with valuable customer intelligence you can drive creativity and therefore business results.
Change or die! Modify and reposition the brand so that its value becomes more relevant given the current market. The supermodel Kate Moss for instance, is still cutting edge, her ability to transform and keep up with the times keeps her relevant and fascinating to this day, love her or loathe her!
Make sure your portfolio of offerings is consistent with the needs of your customers, which may not necessarily be the needs that they had, when they hired you.
Be a lifelong learner, it’s a skill that needs practise and given time, will help business owners become more agile and adapt quickly to changes. Webinars are an easy way take part in regular online learning but don’t forget networking, offers tremendous support and new perspectives. Ultimately, keep doing what you’re doing, just do it better than anyone else! Keep improving and create a brand energy through quality, consistency and service.
Should you wish to adapt your communications strategy, please contact Scarlett PR:
Tel: 01372 200 111