In todays world, the biggest threat to a brand is commoditization. Unless you give people a reason to talk about you, they won’t. And brands that create meaningful conversations will always outperform brands that don’t.
The problem is that commoditization is rampant. Too many businesses hiring the same MBAs, using the same technology, the same research data. All of this conspires to create less meaning, where more is required.
But there are brands that solve these problems. Brands like Nike, like Apple. What do they have in common?
1. Know what you’re really selling
Knowing what it is you’re really selling creates a long term sense of purpose, rather than an ever changing cycle of tactics and reactions to market pressures. This sense of purpose represents your unique reason to exist and the value that you bring. Having this guidance system in place ensures that everybody within an organization makes decisions that are consistent with your and your market’s values.
2. Embrace innovation
Successful brands are in constant beta – they always innovate. More than that, they make sure that innovation is always supporting their core values. Nike is an expert in this, delivering new and exiting products like Nike+, while at the same time staying true to their core values.
3. Internal culture drives external values
When your people know what your brand’s values are it is easy for them to make decisions that are consistent with these values. Which in turn leads to more consistent presentation of the brand externally.