How's That Working for You?

No matter how long you've been at it, there are times in the life cycle of your business when it's in your best interest to sit down and re-evaluate your brand (see Tips & Tricks, below). Much like stages of life, as goals change, it's important to update how you represent your business to the public.

It's a lot like growing up—at a certain point, the baggy pants and underwear-in-evidence look is no longer appropriate for someone who wants to be taken seriously. I know from personal experience. I used to have a nose ring.

I had gone back to school after years in the work force. A "mature" student, I was free from corporate expectations and feeling the urge to flex my independent individualist muscle. So one day, on a lark, I just did it.

There were more than a few askance looks, even from people who knew me well. Most seemed rather disappointed in me. "Why did you go and do THAT?!" One of my favourite comments: "Oh, I didn't realize you were THAT kind of person."

I've never been exactly sure what kind of person THAT kind of person is. I do know from her tone and look that whatever the woman's previous impression, the new me was not a step up in her estimation. Even though I was always well-dressed, sported no tattoos or spiked hair, and nothing about "the real me" had changed, how people viewed me had been quite suddenly and drastically altered. It was an eye opener.

As far as I'm concerned, the nose ring was pretty darn cool in its time. That time came to an end when I was no longer willing to tolerate the inaccurate impression or "brand" it portrayed. The outside didn't match the inside and it was getting in the way.

In business, as in life, it's in your best interest to ensure the impression you leave is helping, rather than hindering, your progress.

Tips & Tricks of the Trade

A brand is not simply a logo or marketing slogan. It's a set of expectations or associations customers have about your company. Your product or service, every customer interaction, your communications—all are elements of your brand.

I asked Rachel Bennett, a long time friend and brand strategist with Frank Branding about the 4 key times a company should consider re-evaluating their brand.

1. When you want to grow. Your brand is all about differentiation—what makes a customer choose you over someone else. Solid branding helps define what makes you unique. It provides focus, gives staff direction, and simplifies marketing decisions.
2. When you're competing to attract and retain employees. In a tough labour market, a strong brand can create an emotional connection with your employees as well as your customers. Brand strategy provides focus for decision-making, increases employee engagement and retention, and helps you attract the right kind of new talent.
3. When you're looking for funding. A strong brand communicates that you are serious about doing business, have a professional approach, and consider your business market-viable. In addition, a brand can be a corporate asset—the better you are known in the marketplace, the higher the value of your business.
4. When your service reputation has slipped. Your customers are your most important promoters. If your reputation has slipped, evaluating your brand promise—the experience customers associate with your brand—offers insight. Once you clearly define it, you can ensure it's delivered in all customer interactions.