The “normal” way of life has dramatically changed for the entire world, virtually overnight. Routines have been broken or altered, finances have shifted, and consumers have learned to “live without.”
If you closed your business during the COVID-19 quarantine or stayed open but are seeing shifts in how your customers shop, this article is written with you in mind. Consumers’
There is no elephant in the room. We all know that today’s economy has shifted, but that’s not necessarily a bad thing. In times of a changing economy, new opportunities
The word “audit” has such a negative connotation doesn’t it? The first thing most people think of when they hear the word “audit” is the IRS. Negative word association for sure! But did you know that the definition of the word audit is “an official inspection of…” or “a systematic review or assessment of something.”
Smart companies know a brand must evolve over time to stay relevant. Some of the top reasons for a rebrand are:
*Respositioning the company or one of its products(Target did a great job at this.)
*Move the brand upmarket(Looks like Ford is trying to do this. I’ll reserve judgement on whether it is successful or not.)
*Communicate a new message or fundamental change(Starbucks is not just coffee, as evidenced in their rebranding.)
What is a brand, really? I have heard many answers to this question, and I have narrowed down what I believe a brand is to the following:
-The unique impression you leave on your customers
-The look of your company
-The special ways you deliver your products or services
-Your attitude and the way you advertise yourself
And most importantly…
Our last blog covered some of the benefits of nurturing your brand. This installment will go into more detail about the top benefits of having a strong brand, then how a brand audit helps you develop a marketing strategy that will build on your strengths and address your weaknesses.
Think about all of the different ways that your brand interacts with and makes an impression on your customers, your employees, and all of your critical partners and stakeholders that help to bring your brand to life. Your brand might touch these consumers on a daily basis.
With each interaction you are given the opportunity to give your customer a great experience — building stronger brand equity, or give them a poor experience —damaging your brand in that customer’s eye.