Expert Voices is the Teimlo blog entry series dedicated to sourcing expert knowledge for our readers and customers. Please read, enjoy, share comment.
The following article has been kindly contributed by Russell Britton from Autografik. When not writing, Russell runs Autografik, a SME branding consultancy based in South Wales.
Recession-proof your brand
In the current climate it is especially important for businesses to know who they are, what they offer and where the client base is. In order to do so businesses need to consider carefully about the brand they represent, and what brand represents them as the brand is the starting point of all other activity, so it doesn’t just mean buy a pretty logo and leave it be. It means creating and delivering a consistent experience which relates directly to a well identified unique selling point. Fundamentally the brand is the cohesive element of the whole business that would ultimately affect the client’s decision making.
One example to consider is the Woolworth's brand. A good brand, and for many decades a strong one, it was, for many, a convenient store with reliable products and deliverable service. Unfortunately a problem for Woolworth's alongside the recession implications that they faced may have been that they overlooked the value of frequent re-evaluation and eventually lost their identity, forgot who they represented and more importantly, what the customer’s demands were.
Woolworth's is a bit of a contentious issue though, it could be argued that their problems stemmed from the de-merger from the Kingfisher Group in 2001 and other market factors such as the not-to-successful Big W and the rise of Wilkinsons. Nevertheless their large and increasingly confused consumer base was dwindling due to poor differentiation and these apparent marketing and identity problems.
In contrast when you look at Zavvi, it is unlikely that many people will be as affected by its impending closure. It’s not a brand that has dominated the high street landscape for decades; it hasn’t even had enough time to forge a personality. In fact the story of Zavvi is probably more testament to the business and market savvy of Virgin (a well branded business themselves) in knowing when to get out at the right time.
Zavvi knew what they were, but perhaps they just didn’t know their place in the market and eventually found problems when their suppliers (a sister company of Woolworth's) also started to struggle. Where as Woolworth's didn’t know who they were but had a reputation to live up to and had huge amounts of debt to live with.
A strong brand is invaluable to a business and this is what has afforded Woolies a second wind with their online comeback later this year. They also seem to be doing it right, i.e. consulting consumers through twitter and a blog on their own website. It will be interesting to see how they cope with established online retailers like amazon, play and eBay.
Obviously we are talking about two former retail juggernauts here, but the same rules apply to all businesses. Branding is all about finding that special something, that spark of personality that sets your business apart.
Teimlo would like to thank Russell Britton for contributing this article to our blog. If you would like to contribute an article please contact Marie.
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