I was asked at an informal meeting last week just how can the health of our brand be assessed? Great question, I was glad they were interested in such climates as these.
This is something that I always ask a brand or business and more often than not they reply with conversation about products, P&L, tracking, share, activity and overheads etc. Not bad, but they are all looking at their brand from the inside out. I suggest looking from the outside in.
A great way to consider the health assessment of your brand is not so much how healthy it is, but how strong is its immunity and tolerance? Brands are often seen as living, breathing and functioning organisms so let’s assess them accordingly. Just like the health of humans, where it’s not about your strengths but more about how strong your weaknesses are. The humans that are continually getting sick are the ones that have a low tolerance and weak immune system. Therefore the ‘healthiest’ ones are the ones with the greatest tolerance.
Brands are exactly the same!
Brands are getting sick and losing market share, some are falling all together because they have low tolerance especially in a volatile market. This can be because of any number of things but quite often it’s because the brand didn’t focus on strengthening their weaknesses.
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