In the world where technology has allowed us to be exposed to marketing messages from countless brands whether small, medium or large, the battleground for customer attention gets more crowded. The danger and pitfall for many brands, especially for the small and medium ones, is their sometimes-stressful need and focus on making money versus engaging and fulfilling their customer needs/wants. This isn’t to negate that having sales goals is imperative, but to identify where the true emphasis and PURPOSE should be to generate long-term success for a business.
Financial goals are necessary, but where the issue occurs is when that is the driving force behind the brand strategy. Don’t mistake this for ignoring the value of generating cash-flow and ensuring a return on investment. The tunnel-vision of money or a financial goal as brand strategy inhibits the ability for brands to connect with their consumers in a meaningful way. When you negate human connection, you minimize your brand value down to transactional exchanges that are easily disposable when a more attractive offer or competitor presents itself.
Startups, small, medium, and large business need to stop and remember why they started their business in the first place. Hopefully, it hasn’t been just to make money and if it is then you need to recognize the short-term vision of your business and set up an exit or acquisition strategy to someone who sees the customer value within your business. Neglecting why you created your product or service in the first place is neglecting the human aspect of your brand. If it's always been about making money, then your brand is just a vending machine. You’re providing a service or product in exchange for a monetary deposit.
Relationships drive business, our economy, our country, and our world. We thrive or deprive as human beings because of the network of relationships we create or lack thereof. Embrace the reason or find a valuable reason why you developed your product or service and that will be the start of leading your business to focus on how to transform people’s lives. Translate that DREAM into a brand mission with values that are driven by PURPOSE and ACTION. Don’t ignore the very thing that separates us from all other life and technology on earth. Be human!
1/5/2019 12:55:26 am
7/17/2022 01:34:23 pm
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D. Banks - Owner & Chief Brand Marketing Officer of Envision Brand Marketing, LLC