Have you ever studied day and night for an exam and still failed? If the answer is affirmative, then surely you are missing out on something very important. Similarly, there are many businesses that have offered an exceptional product or service that they spent months -not to say years- building to perfection but still, at some point, failed to deliver the best.
So, in today’s article, let’s try and find out the common reasons that cause brand failure.
A brand is a constantly-evolving entity!
For every small business, medium-sized, or big company owner, working on the branding is important for the brand to stand out from competitors. And developing a strong Brand Strategy is key to your continued success. However, this is becoming increasingly difficult today as a result of a highly competitive market and the coming of digital disruptions.
Breaking your brand promise
If there is one rule in the branding game that comes first, it’s probably this: Make a promise to your customers and make sure to keep it. But how to know if a brand did break its promise? It’s when there is a piece of evidence that the brand does things that conflict with the external messaging it articulates, and people lash out.
Telling wrong brand stories
People tend to see numerous marketing messages appearing here and there. If you hope to get your story heard, it better be meaningful, compelling, and unique. If you don’t get to tell a relevant and memorable story to your audience, then you’re telling the wrong story.
Having a wrong positioning
Some people say that not having a brand positioning is the biggest mistake a company can make these days. However, there is a worst-case scenario; your brand positioning goes wrong. It usually happens when you do not understand your audience’s needs, wants, expectations and behaviors or takes this process lightly.
Not keeping up with the market changes
One of the most obvious mistakes an established brand can do is ignore the changing market. Once you analyze your market, you assume that you have all the data needed to succeed. The fact you tend to forget about is that the market is constantly changing.
Lacking competitive differentiation
Most brands don’t fail in a catastrophic collapse, they are quietly beaten by the lack of variety, creativity, and diversity. So if you do not work on the competitive advantage that makes you stand out from your competitors, then expect your brand to fail.
Underestimating your audience
When telling your brand story, think of your audience. People consume stories enthusiastically and are quick to recognize when one is new, when one is derivative, and when one is simply bad. If your story is a bad one, that means you’re considering them fools.
Crafting incoherent brand messaging
Inconsistency in your brand messaging makes consumers lose trust in your brand. Consumers should know what to expect and what the outcome will be. An inconsistent brand message confuses customers, turns off prospective buyers, and ruins your image for your audience.
Using content that doesn’t describe your brand
If you use the same words in your copy everyone else is using, you won’t be able to position your brand in a way that distinguishes you clearly from competitors. While writing, if you focus on the features of your product/service rather than its benefits, just consider your brand failing already.
Being inconsistent across platforms
Many businesses fail to be consistent in presenting their identity verbally and visually, which ends up with them appearing unprofessional, untrustworthy, and separate. Your identity should not be constantly changing, because this leads to confusing your customers.
Working with no action plan
Not living your brand results directly in brand failure. If you don’t put your values first and document the brand strategy you’ve built, it will become hard for you to connect with your audience. Having a poor process or no action plan means you aren’t in line with your brand values, and that can lead to brand damage.
Proper branding goes deeper than just avoiding the 10 challenges listed above. But, knowing what to avoid is the best first measure in guarding against brand failure. Then comes figuring out how to fix these branding mistakes.
