Your brand is your identity. Your brand is an emotional representation of your company and your products. Every product you sell, every word printed on your brochures reinforces or weakens your brand.
The days of taking customers for granted are long gone. Unlike the 1950’s when brands could make mistakes and customers would still continue to be loyal, today’s customers have short memories and customer loyalty always needs to be reinforced.
I would like to share a story of one of the worst branding mistakes I have ever witnessed. The name and industry of the company involved has been changed to protect the foolish and just plain dumb.
The name of this company is ABC. ABC is a family owned business with a 35-year history. Since day one, ABC built a strong reputation for quality products. ABC specializes in a small niche marketplace, thus they enjoyed little serious competition. According to newspaper interviews with the current management team, the company was always profitable but sales were flat for the past several years.
Ironically during the time when sales were flat, the company was in transition from the original owners to the son. He took over day-to-day operations several years ago.