How do you measure your business brand? How do you know when your brand is losing strength and beginning to weaken? It can be difficult gaining the right perspective about the state of your brand because of how intangible the factors to be considered can be, however it can be done. We share five signs that help to identify a weak business brand.
- You Can’t Clearly Describe What Differentiates Your Brand from Competitors’
When you can’t explain in a sentence or less what makes your brand different from competitors’, that’s a clear sign of a weak business brand. You should be able to easily and clearly identify what differentiates you from your rivals, aside price, colour or some new feature.
2. You Haven’t Properly Defined Your Values, Mission and Vision Statement
Remember the saying, “if you don’t stand for something, you fall for anything”. You need to clearly define your values, mission and vision statement and stick with it. It should not be something that changes every now and then; it should be constant and properly upheld in your corporate and business actions and even inactions. People respect and trust constancy and dependability, and when your business brand is identified with this it will go far.
3. Your Logo Constantly Changes and Isn’t Telling a Story
Your logo is your symbol of recognition. You cannot afford to be complacent with it. Settle down, think deeply about it, select a logo that best represents your brand and the story behind your brand and stick with it, come rain or sunshine. You can make improvements to the logo in the future, make a few adjustments here and there, but it should still retain its basic concept and design. Remember, your logo is unique, it’s yours and yours alone, so spend however long you need to make it count.
4. People Talk About the Founder Not the Brand
Your brand is your business identity, when people regard you, the founder, or anyone associated with the brand more than they regard the actual business brand, that’s indicative of a weak business brand. The point of having a brand is for it to develop its own identity, outlive its founders and reach far into the future. Creating a brand is more or less creating a legacy for your business. If people only remember the people associated with the brand and how the business brand is nothing without them, it will be hard for your brand to remain relevant in the coming future.
5. You Constantly Have to Compete On Price
One of the attributes of a strong brand is it being able to convince customers, clients or consumers that the brand is worth their money. If your brand has to keep struggling with prices to get customers, clients or consumers attention, that’s indicative of a weak brand because what that means is that your services or products are mainly being patronized to save money. However, if your brand is generally associated with the lowest prices like the Shoprite brand or Mr Price brand, then competing on price is quite normal and non-indicative of a weak brand.