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You are here: Home > Business > Branding > Revitalize Your Brand for A Better (And More Profitable) New Year |
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Member You - Revitalize Your Brand for A Better (And More Profitable) New Year
Franchising Regulatory Issues Unresolved ically in an entirely new business. In this scenario nearly everything in their business has changed over the past several years – except for their name. For instance a web hosting company may gradually transition to providing offline IT consulting. But with “web” in the name, they would forever be fighting to explain their new niche. Imagine if 3M had not re-branded and stayed with their original name… Minnesota Mining and Manufacturing. It would take more than a Post-it note to make that name stick.Most in the franchising industry are too afraid of the Federal Trade Commission to speak out against their abuses of power. Most attorneys kiss their rear ends to make sure they are not closed out of the loop, insuring that they get positive opinions on areas of law when they ask for an interpretation. Lawyers in the franchising industry are careful to hob knob with the regulators to help their clients positions and often have brilliant comments, kiss butt style letters and ex Keeping a brand healthy is really no different than keeping yourself healthy. It just requires a few checkups and some simple exercises. Make sure to ask your How Corporations Can Use Real Estate To Access Untapped Capital The New Year is a time for individual reflection and re-evaluation. But in addition to plotting your personal progress, what about your business? When was the last time you sat down and examined the progress and health of your brand?Most corporations of any size and scale have large investments in the land and facilities necessary for the successful operation of their business. While making corporate investments into real estate assets may seem to be a reasonable strategy at first glance, they are rarely investment or capital driven decisions, but rather operating decisions that in retrospect usually fail to maximize the leverage and value of their land and facilities beyond what is typically provided for “Health of my brand?” you ask. Yes. Just like people, businesses and markets change over time. And sometimes those changes are so slow and so gradual, that we wake up to find our products and services outdated, out-of-step and out-of-shape. In short, our brand has become “sick.” Here are some of the most common culprits. • Geographic gridlock In this scenario, your company started in one locale and has simply outgrown the market. It’s easy to see this trend in larger companies, such as Southwest Airlines, which now flies all over the U.S. Not only are these names restrictive, they are also uninspired. If your company has a city, state or regional name, you may be telling potential customers to go elsewhere. • Product paralysis Much like geographic gridlock, product paralysis starts with all the right intentions. A company wants to be known for their star (and sometime their only) product. So they include it in the name. Once they’ve achieved success in capturing that market, they naturally want to expand into others. The problem is their name. So companies such as Just Brakes develops a tag line to overcome the problem. “We’re more than Just Brakes.” The irony is that marketing dollars are then spent trying to shed the now suffocating stereotype caused by their core product. Better to re-brand with a more open and encompassing name. It’s better to communicate who you are than explaining who you aren’t. • Attribute aches This is another easy trap in which to fall. In place of a product, companies associate themselves with one key attribute – and then pay the price. What if EconoLodge ever wants to improve its rooms and raise its rates? Is Quality Inn really the luxury leader in the hotel business? It’s not that these names can’t work, they often do. It’s just that they forever commit a company to that strategic positioning. And sometimes companies outgrow one mode of service. They may no longer want to be the low price leader. Or they may find it difficult to meet the expectations created by words such as “superior” or “ultimate.” If you find yourself tired of jumping through hoops everyday, it may be time to loose words such as “Sonic,” “Speedy,” or “Express,” as part of your name. • The Identity Crisis This is perhaps the most dreaded category of branding dilemmas. It happens when a company’s core competency evolves to the point where they are basically in an entirely new business. In this scenario nearly everything in their business has changed over the past several years – except for their name. For instance a web hosting company may gradually transition to providing offline IT consulting. But with “web” in the name, they would forever be fighting to explain their new niche. Imagine if 3M had not re-branded and stayed with their original name… Minnesota Mining and Manufacturing. It would take more than a Post-it note to make that name stick. Keeping a brand healthy is really no different than keeping yourself healthy. It just requires a few checkups and some simple exercises. Make sure to ask yours 19 Timeless Tips to Keep Meetings Short outgrown the market. It’s easy to see this trend in larger companies, such as Southwest Airlines, which now flies all over the U.S. Not only are these names restrictive, they are also uninspired. If your company has a city, state or regional name, you may be telling potential customers to go elsewhere.Thorough meeting preparation alleviates anxiety. Good planning guarantees that meetings are relevant, don’t overrun and aren’t held back by uniformed, boring or disinterested attendees. Follow these 19 timeless tips to keep your meetings on track and on time.When preparing your agenda …1. Identify the aim of your meeting2. Put the most important items first3. Establish a clear outcome for each point4. Judiciously choose meeting invitees. As • Product paralysis Much like geographic gridlock, product paralysis starts with all the right intentions. A company wants to be known for their star (and sometime their only) product. So they include it in the name. Once they’ve achieved success in capturing that market, they naturally want to expand into others. The problem is their name. So companies such as Just Brakes develops a tag line to overcome the problem. “We’re more than Just Brakes.” The irony is that marketing dollars are then spent trying to shed the now suffocating stereotype caused by their core product. Better to re-brand with a more open and encompassing name. It’s better to communicate who you are than explaining who you aren’t. • Attribute aches This is another easy trap in which to fall. In place of a product, companies associate themselves with one key attribute – and then pay the price. What if EconoLodge ever wants to improve its rooms and raise its rates? Is Quality Inn really the luxury leader in the hotel business? It’s not that these names can’t work, they often do. It’s just that they forever commit a company to that strategic positioning. And sometimes companies outgrow one mode of service. They may no longer want to be the low price leader. Or they may find it difficult to meet the expectations created by words such as “superior” or “ultimate.” If you find yourself tired of jumping through hoops everyday, it may be time to loose words such as “Sonic,” “Speedy,” or “Express,” as part of your name. • The Identity Crisis This is perhaps the most dreaded category of branding dilemmas. It happens when a company’s core competency evolves to the point where they are basically in an entirely new business. In this scenario nearly everything in their business has changed over the past several years – except for their name. For instance a web hosting company may gradually transition to providing offline IT consulting. But with “web” in the name, they would forever be fighting to explain their new niche. Imagine if 3M had not re-branded and stayed with their original name… Minnesota Mining and Manufacturing. It would take more than a Post-it note to make that name stick. Keeping a brand healthy is really no different than keeping yourself healthy. It just requires a few checkups and some simple exercises. Make sure to ask your How to Avoid Cashflow Problems such as Just Brakes develops a tag line to overcome the problem. “We’re more than Just Brakes.” The irony is that marketing dollars are then spent trying to shed the now suffocating stereotype caused by their core product. Better to re-brand with a more open and encompassing name. It’s better to communicate who you are than explaining who you aren’t.Cashflow problems are the main reason why more than 70% of UK businesses go under in their first year. Although this statistic is fairly shocking, the reassuring fact is that there is a lot that companies can do to manage their cashflow effectively.We have put together our top tips to help you avoid cashflow problems and become a business success story.1. Always run credit checks on companies that you do business withMany people forget or think that it’s n • Attribute aches This is another easy trap in which to fall. In place of a product, companies associate themselves with one key attribute – and then pay the price. What if EconoLodge ever wants to improve its rooms and raise its rates? Is Quality Inn really the luxury leader in the hotel business? It’s not that these names can’t work, they often do. It’s just that they forever commit a company to that strategic positioning. And sometimes companies outgrow one mode of service. They may no longer want to be the low price leader. Or they may find it difficult to meet the expectations created by words such as “superior” or “ultimate.” If you find yourself tired of jumping through hoops everyday, it may be time to loose words such as “Sonic,” “Speedy,” or “Express,” as part of your name. • The Identity Crisis This is perhaps the most dreaded category of branding dilemmas. It happens when a company’s core competency evolves to the point where they are basically in an entirely new business. In this scenario nearly everything in their business has changed over the past several years – except for their name. For instance a web hosting company may gradually transition to providing offline IT consulting. But with “web” in the name, they would forever be fighting to explain their new niche. Imagine if 3M had not re-branded and stayed with their original name… Minnesota Mining and Manufacturing. It would take more than a Post-it note to make that name stick. Keeping a brand healthy is really no different than keeping yourself healthy. It just requires a few checkups and some simple exercises. Make sure to ask your Jump Start Your Credit Repair Business not that these names can’t work, they often do. It’s just that they forever commit a company to that strategic positioning. And sometimes companies outgrow one mode of service. They may no longer want to be the low price leader. Or they may find it difficult to meet the expectations created by words such as “superior” or “ultimate.” If you find yourself tired of jumping through hoops everyday, it may be time to loose words such as “Sonic,” “Speedy,” or “Express,” as part of your name.If you own, or work for a credit repair business and you are looking to add some clients to your book of business, buying credit repair leads may not be a bad place to start.Credit repair leads may not be a bad choice because these potential customers have committed to having their credit repaired by a professional such as yourself.People looking for credit repair are not just surfing the web looking for information, they are serious about it and are waiting on a • The Identity Crisis This is perhaps the most dreaded category of branding dilemmas. It happens when a company’s core competency evolves to the point where they are basically in an entirely new business. In this scenario nearly everything in their business has changed over the past several years – except for their name. For instance a web hosting company may gradually transition to providing offline IT consulting. But with “web” in the name, they would forever be fighting to explain their new niche. Imagine if 3M had not re-branded and stayed with their original name… Minnesota Mining and Manufacturing. It would take more than a Post-it note to make that name stick. Keeping a brand healthy is really no different than keeping yourself healthy. It just requires a few checkups and some simple exercises. Make sure to ask your Advanced Tips for Advertising Online ically in an entirely new business. In this scenario nearly everything in their business has changed over the past several years – except for their name. For instance a web hosting company may gradually transition to providing offline IT consulting. But with “web” in the name, they would forever be fighting to explain their new niche. Imagine if 3M had not re-branded and stayed with their original name… Minnesota Mining and Manufacturing. It would take more than a Post-it note to make that name stick.Advertising online is really important for the online business. It is also very effective. You can use different types of online advertising methods to get the desired result.Place all your online advertisements in a website that has the maximum visitors a day. This is important because more visitors will ensure that you get good numbers of visitors to your website and business through the online advertising program.Create an ad that is attractive and interesting Keeping a brand healthy is really no different than keeping yourself healthy. It just requires a few checkups and some simple exercises. Make sure to ask yourself, your current customers and potential customers, if your name, tag line and logo really reflect where you are as a company. Does the name evoke the right feeling and make them want to know more? Or does it mislead them, confuse them and require constant explanation. The first few seconds of an introduction are the most valuable real estate in the branding world. Make sure your brand image is healthy and vibrant and you’ll not only liven up the business, you’ll revitalize the bottom line.
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