Given the challenges that brands face these days, more have become more vulnerable to collapse. It is a very depressing event for any business owner to see his or her brand fall down, most especially if the brand has been in the market for several decades already. Building a brand may take several years of hardwork and creativity, but it may just take a few minutes to bring a brand in distress. This is what makes this unbearable for most company owners. Everything is possible and business owners should always be prepared on how to combat this unfortunate situation. Understanding the early signs of a collapse can help companies do necessary measures to avoid it.
Here are some common observations that often happen when a brand faces a potential brand failure:
Business executives direct staff not to think but act.
This can be a bit alarming. If executives tell their people to just get on with their respective stuff and stop thinking, it can affect the entire organization. Perhaps, an organization practicing this is a bit slow in terms of innovation as new ideas are not normally entertained. In the long run, the employees can form a reasoning of “I am just following orders.” This means the entire blame has to be shouldered by the top executives. A collaborative working environment always works in terms of branding and marketing.
Getting away from the formed branding strategies of the organization.
When something changes, some businesses tend to drastically adjust their strategic plans, especially in times of economic crisis. This seems right at first, but this can be a very dangerous strategy. In branding, consistency is always important as this is your opportunity to gain retention and recall in the market. If you keep on changing your brand strategies without thinking about it carefully, this can threaten the survival of the business. For some, the main problem is actually the absence of a branding strategy as I had seen with a clothing label brand that I worked with some time ago. Such strategies are a must for each business regardless of the business scale. If you have one, stick to it or change it after you have come up with a better one. Do not be too impulsive though as a minor wrong move can affect the whole business.
Depending decisions on your own preferences instead of existing facts.
While emotions play a big role in branding, this does not mean that emotions should be the basis in the decision making process. If the managers of a business always base decisions on their personal preferences, there is a slim chance for the business to survive. Each decision should be backed up with facts.
Belittling the power of creativity as an element of the business.
The tendency of many “left-brain” managers is to ignore creativity when it comes to problem solving. Their line of thinking is that creativity has no place in the management of the business since this trait is just for the marketing aspect. However, this trait can be applied in various aspects of the business. Creativity is more than just designing branding materials; it is mainly about helping the entire business afloat.
Choosing existing policy over good decision making.
In any kind of business, decision making is always a tough process. And this is harder is the business is facing a very challenging situation, most especially for large corporations. For large-scale businesses, decision making requires weighing all the pros and cons since many employees will surely get affected. Some managers tend to depend on the existing company policies in deciding during a crucial situation. This sounds logical, but may potentially cripple the entire company. Policies are expected to be followed within the organization; thus, the context of a problem that arises may not be fully considered in the decision. For instance, imposing a policy of cutting the budget of each department by 20 percent may not be a practical move. It is better to assess the critical areas of the business before imposing such a policy within the organization.
If company owners and branding strategists are able to identify these brand disconnect signs as early as possible, there is still a chance to save the business from absolute closure. Maintaining a good business is sometimes about being vigilant and pro-active too.
