Don't let your brand backslide in tough times

Expert Columnists - John Foligno - Behind the Brand

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Don't let your brand backslide in tough times

By John Foligno

January 11, 2009

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John Foligno

Use discipline to define your brand

In brand development, strategy precedes creativity

Use discipline to define your brand

John Foligno is managing director of Cubism Branding (CubismBranding.com), a branding, design and integrated marketing communications firm.

Why are there so few brands that thrive during tough economic times? How can jewelers avoid the pitfalls that cause so many brands to lose their edge and turn their products into commodities when the economy heads south?

During stormy times, brand leaders and guardians tend to be more reactionary than they are normally, and many make shortsighted attempts to keep their existing customers happy. These well-intentioned strategies often come at the brand's own expense.

For example, introducing a more "affordable" product is one frequent ploy used to offset weakening sales during an economic downturn. An even more common strategy is running promotions to gain a quick upturn in business.

Although these tactics may equate to some short-term incremental sales, they usually erode the brand's equity in the minds of its customers. Over time, such tactics have proven detrimental to brands because they create confusion and diffusion among its customers. The value and image a brand worked tirelessly to build loses clarity, and the perception of that brand's service and/or product begins its decline.

Organizational bias is another derailer of strong brands. For instance, taking actions because "We did it last year" is the result of an engrained culture and behavior that can lead brands further astray. Making decisions with the primary objective of survival will more than likely lead a brand to long-term failure.

How to put 'em back on

Your brand offers a unique and distinctive position, and the components that shape consumer perceptions include the brand idea, values and essence.

By the "brand idea," I am referring to those items that were created to define the brand's promise, or what it truly stands for. What's critical is for the brand guardian to ensure these things remain true and consistent in all communications. Tough times force companies to be even more disciplined about this.

Change is essential for companies that wish to grow a brand long term. Brands evolve when consumer tastes shift, when new consumer targets are explored and when technological innovations occur, etc. But the process by which change is managed and the attention to detail can be the difference between long-term, sustainable success and ultimate failure.

Your brand is your greatest investment. If you sacrifice it during hard times, it will soon end up in the junkyard.

Editor's note: John Foligno's "Behind the Brand" column first appeared in the November 2008 print edition of National Jeweler in the Your Store section.

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Expert Columnists - John Foligno - Behind the Brand

Don't let your brand backslide in tough times

In brand development, strategy precedes creativity

Use discipline to define your brand

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