BrightBox is, first and foremost, a branding operation. Our number one goal is to build, position and fortify powerful emotional connections between our clients and their customers bases.
Brands are like people: Even the best of them have problems. If branding were a simple and flawless process, everyone would be a well-known, successful businessperson with dollar signs for eyes and bank accounts with seven figure balances.
But, that’s not how business works. Because there are multitudes of people out there who want the same thing you do, some brands will survive and some will go the way of the dodo.
BrightBox is one of the best at taking flabby, drab, out of shape brands and turning them into lean, mean fighting machines. We pride ourselves on building brands that create instant impacts and command their own market. Some of our clients come to us with confusing, chaotic, nearly meaningless brand names that represent either nothing or the wrong thing in the public eye. Or worse, some of our clients have had names that represent the exact OPPOSITE of what their business SHOULD represent, something along the lines of “Anvil Skydiving Adventures” or “Welt’s Beauty Products”.
Like a dedicated ship captain, you should always keep an eye out to ensure that your brand isn’t headed toward an iceberg. Here are five factors to consider so your brand doesn’t become the business version of the Titanic.
#1 MELTING MARKET
The worst kind of collapse occurs when your market literally disappears. When the typewriter bit the dust in the name of the modern computer word processor, any company specializing in old school “click-tap-ding” typewriters found themselves out of luck.
The worst word that can be associated with your brand is OBSOLETE.
#2 WORKER WOES
Your employees are the lifeblood of your company. If they are not performing the way they should be, either you or they are making a mistake. If it’s you, stop it. Make sure to give them breaks, creative space, fair pay and management support. If it’s them, take action. Warn the masses, shake up the rotation, alter the boardroom or even change the roster.
Stay in touch with your employees so as to avoid having to do anything drastic.
#3 BUDGET BUST
Money is one of the world’s main sources of worry, and business seems to exponentially increase money concerns. Because of the overhead involved in running a business, your budget has to be airtight. Save where you without cutting so any corners that the foundation starts to crumble. When you overindulge, you put your whole operation at risk. However, when you start counting the number of pens used per employee each month, panicked whispers may arise in the industry crowd and in your own staff.
Manage your budget with the right balance.
#4 OLD SCHOOL
Your industry is going to change. It’s inevitable. You may not see the incredibly severe melting market problem (#1 on this list), but that doesn’t mean that other sweeping, fundamental shifts won’t take place. If you’re delivering mail on horseback, Federal Express is going to kick your company’s butt in every market, every time. The feather boa was once the coolest fashion item in America, but any clothing line that carries it now better be selling stage clothes for B movie stars.
Don’t run a grainy movie theater when the guys down the street are in HD, or you’ll wind up on the junk heap.
#5 TINKER ADDICTION
Sometimes, the best way to avoid an iceberg is to do nothing. When the economy tanks, businesses often start scrambling to save money here and make more there. The problem is that these tactics often dilute the core nature of the business and spread the organization so thin that it falls apart even more precipitously.
Never trade a money tree for short term fruit.