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Business

12 Ways to Manage the Modern Brand

12 Tips to Managing a Modern Brand from my recent interview with two brand experts, Dominic Walsh of Landor Associates and Michael Pooley of PPR.

W.Landor

“Products are made in the factory, but brands are created in the mind,” —Walter Landor

Walter Landor (1913-1995) invented branding.

His company has been reinventing it ever since.

His knack was creating designs with broad popular appeal, eg, the Coca-Cola script.

  1. Your Brand = Your Reputation

  2. Put simply, a brand is a promise made and a promise kept.

  3. Brands stem from purpose. Strong brands have strong purposes.  Strong brands think and operate long term, on purpose.

  4. Branding is the process that ensures the promise is kept via your processes, systems, administration, innovation and consistency. To deliver your brand promise, you must align strategy to execution.

  5. Brands must be agile, especially nowadays because of the rapidity of change.

  6. It’s a matter of survival. Your brand must continually adapt to circumstances.  It cannot be static and survive.  Mere maintenance will not suffice.

  7. Nowhere to hide. Brands are under scrutiny like never before.  There are so many stakeholders, of which many are active.  Publicity and visibility is greater and there is greater transparency for good or bad.

  8. Competitive dynamics change because your environment is subject to disruption, eg, if a new competitor enters the market and attempts to buy market share, you need to counter.

  9. It’s incredibly important not to damage your brand. Preventative maintenance is best; preparation is protection.VkLxu

  10. Think Trust Bank: Your brand is a Trust Bank into which you must make lots of good and frequent deposits because you will surely be making withdrawals during bad times.  Withdrawals are inevitable.

  11. Stay in the black. Research shows that it’s harder to dig your brand out of a hole when you’re in the red.  It’s much easier if you have capital to spend.  Brands can bounce back from negative publicity and bad times but remember, it’s debts and credits.

  12. Managing a modern brand. Technology matters in this digital age of social media so you don’t want to be caught flat-footed, naked, in the dark, and unaware.   Nowadays you must be alert, be listening, monitoring, have your corporate antennae waving or you’re too late to react.  You also need people and tools in place now.  News is now 24 hours ongoing so you have to accommodate the modern news cycle because it won’t wait.  Time is not on your side, so be as transparent as possible and never let your handling of the story become the story.

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About Dr. Duff Watkins [www.execsearch.com.au]

international executive search consultant / author-- dispensing career advice about how the job market really works

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Dr. Duff Watkins

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