Managing Your Brand After COVID: 7 Questions That Will Set Your Course
Planning sales and marketing, start here, it’s worth it
I got this SMS from the universe:
“New economy. Who dis?”
To which I replied, “Thanks, Universe, this would have been helpful four months ago.” If only I had known this would happen. If only I had managed better—what to do now?
The answer: learn and recalibrate. Our brands don’t have to lose value like so many are, or even go out of business. But we have to communicate with leads and customers more effectively.
Here are 7 steps to brand risk management to help drive extraordinary brand perception and customer action.
7 RISKS TO ELIMINATE
Everyone should find time to do a brand audit. Particularly when there’s an industrial, category, or global shakeup. But, it’s scary because the perception is you may not like what you find out, so not so many people do it.
*The inescapable reality is, however, that companies that prioritize their message to their targets around their highest, most desired competency, succeed. Companies that don’t, fail or drown in expenses.
What now? If you want more leads, better conversions, a more effective elevator speech, or want to get out of a pricing race to the bottom, here is a 7-step audit of risks to your brand and everything it touches.
We want to manage risk because, “brand risk is the potential for a valuable brand to lose value or a new brand to fail in the market,” according to Simplicable’s post. Since most of us don’t know our risk given the recent events, this exercise should be a no-brainer before any new SEO or ad placements.
Is there a gap between how my brand wants to be perceived and its customer perception? Pro-tip: customers will tell you why they chose you instead of a competitor, just ask.
Can your core target consumers recognize the visuals tied to your brand and/or products?
Are your target customers able to associate your product or service with your brand? I.E. when they think of duplication, they think Xerox. We don’t need to achieve that level, but this is how we can gauge brand awareness.
Is your brand positioning clear to your customers? Pro-tip even small businesses lose when their positioning is that they do everything right. Example: there are a lot of marketing agencies, but Invisible Man specializes in content-strategy that compels extraordinary perceptions and action.
What is your brand legacy? This could be forgotten about, like a favorite old toy in a closet. Pro-tip: not all stories are interesting (trust me, I’m the worst, socially). If a legacy story doesn’t add anything, maybe let it breathe a little longer. When in doubt, ask a brand coach (email me for free). Remember, even the greatest athletes have coaches to keep them sharp.
What is the state of loyalty to your brand? Service is everything. Loyalty is a direct measure of your customer service quality. In fact, your entire brand is measured by how people feel about you in their gut, bad communications and bad systems make for bad customer service can collapse otherwise amazing products. Find it and fix it.
What are the customer perceptions of your brand? If you’re luxury, are people paying the right price?
Michael Altman is a persuasive content strategist and creator of Invisible Man. Invisible Man works with CEOs, creative directors, and marketing managers to provide content-strategy that compels extraordinary perceptions and customer action. Email him firstname.lastname@example.org