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Maintaining a consistent and solid brand identity could be especially difficult for entrepreneurs. According to a study by Lucidpress, a consistent brand presentation can increase revenue by as much as 33%. However, business owners often face specific obstacles when their brands are in a state of constant crisis.
To overcome these challenges, you’ll want to take a moment to build a solid brand infrastructure, enlist the help of out of doors experts to effectively rebrand, and establish a clear brand tone of voice.
Overcoming challenges in times of crisis
Businesses often face significant challenges in maintaining brand consistency during crises. Shawn Cole, president and co-founder of Cowen Partners, shares his experience: “During the COVID-19 pandemic, we spread ourselves thin offering ancillary services, which caused confusion in the marketplace and decreased revenue. It’s hard to be good at everything or a solution for everyone. So we redefined our target audience and preferred service level, then doubled, then tripled. Business has never been better. Finding solid referral partners whenever possible solidifies in the mind of the customer where your service fits in the market, and they’ll come back to you when they’re ready.”
Unfortunately, a common pitfall for entrepreneurs is not having a comprehensive brand that goes beyond a logo. In some cases, entrepreneurs don’t have a brand that goes beyond a logo. This is a great opportunity to dig deeper into your product or service. Things like core values, ideal customer profile, background story, and market research cannot only enable you create a brand, but also grow your small business 10x.
As an entrepreneur, you possibly can develop a deeper understanding of your brand by defining core values, identifying your ideal customer, and conducting thorough market research. This holistic approach can significantly increase your brand identity and growth. You can start with the following best practices.
1. Strengthen internal communication before going outside
Internal communication and worker alignment are key to making sure brand consistency, especially in turbulent times. Cole explains, “We frequently communicate our company values to employees, especially in a distant environment and with employees from different backgrounds and experiences. Employers don’t realize that potential customers query worker value every day. They might say you’re no different than other corporations or that your prices are too high, and employees will eventually begin to imagine them. We instill value and talk about how are we differenthow we’re higher, why our prices are what they are, and why we have built our company for success.”
To achieve similar results, you must continually reinforce your organization values and unique selling points to your employees. This not only strengthens internal alignment, but also equips your team with the confidence to speak your brand values to customers.
2. Build a solid brand infrastructure based on your unique business
One of the principal challenges is to avoid constant brand fires and focus on building a solid infrastructure. Don’t get so caught up in the nitty-gritty that you just forget about your overall brand identity. If you’re consistently putting out brand fires, your brand will inevitably feel prefer it’s in a constant state of crisis. It’s necessary to stop for a moment and focus on building a solid infrastructure for your brand. This gives you the mandatory tools to deal with every unexpected challenge, surprise project, and good concept that comes your way, allowing your brand to stay consistent and strong.
Ultimately, the goal is to build a strong brand infrastructure that helps you avoid constant reactivity. This proactive approach allows your brand to stay resilient and consistent in the face of varied challenges.
3. Don’t be fooled by internal rebranding
The biggest misconception about rebranding is that it will possibly be done internally. That’s not true. Consider Tropicana, which tried to rebrand its packaging internally in 2009. The recent design, which cost $35 million, was met with general customer reluctance and caused a 20% drop in sales inside two months. This costly mistake caused Tropicana to revert to its original design.
Trusting an experienced, external team guarantees a fresh perspective, modern solutions and a successful rebranding that is consistent with your vision while effectively reaching your goal group.
4. Stay up thus far with current events and industry insights
Recent industry changes, equivalent to the FTC’s ban on non-compete agreements, have significant implications for brands. This shift underscores the importance of cultivating consumer loyalty to the brand itself, slightly than to individual personalities or founders.
Take celebrities like Kim Kardashian and Kanye West. Consumers who are more attached to those personas than to the brands they represent are more prone to follow them wherever they go than to stay loyal to their business partnerships. This mentality underscores the need for brands to focus greater than ever on creating a strong, independent identity that retains consumer loyalty no matter the movements of key figures. This approach ensures long-term brand resilience.
5. Align your vision with your strategic goals
Getting the right fit in branding is essential to avoiding common pitfalls. Branding isn’t just about a logo or a slogan; it’s about the art of alignment—aligning the C-suite vision with the brand’s strategic goals, ensuring hassle-free connection between your small business and the consumer and nurturing a cohesive partnership between you and your branding agency. When these elements are in harmony, your brand can thrive, avoiding the pitfalls and disappointments that so many have experienced with agencies in the past.
Ultimately, by aligning the vision of senior management with strategic goals and establishing cohesive partnerships with branding agencies, corporations can build resilient brands that may stand the test of time.