5 December 2012 10 Comments

6 reasons why your brand will not be here in a decade

Author: yinkaolaito

Yinka Olaito is happy,excited and passionate Communications & Media specialist, Trainer and speaker. Yinka Olaito helps Profits and Non-profits with effective communication and positioning for premium service delivery and returns. Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage Consulting(Communication/digital media), African Child Education Right Initiatives(NGO) and Content Director, Africa Development Talk( online Platform for discussion on Policy, Governance, development across Africa) and Africa Foundation for Young Media Professionals

Ailing Brand, causes of untimely death of Brands, Brand Illness, Brand NegligenceAs humans, we often ‘mystify’ something we do not understand. Ignorance and lack of willpower to search for knowledge on how things work make us think certain stuffs are impossible. When brand (product, service etc) dies untimely, many often resign to fate as if there is nothing they could have done. It is true there is nothing as successful as an idea whose time has come. But it is common knowledge we human often see the truth but we pretend until the matter goes beyond the level we can salvage them. For instance, the major cause of illness and death in developing Countries is traceable to late detection or lack of basic provision that had been conquered by Advanced Countries.

Brands like human do fall sick and die. Unfortunately most of these deaths are preventable. So when people and brands die, we often cry, wail and refuse to be consoled especially here in Africa. Meanwhile, while such people are alive, we took them for granted hoping they will overcome a known challenge that could have been jointly addressed. It is true in certain cases; the sick person/brand may be at fault. They may refuse expert’s advice and strict adherence to certain lifestyles and principles.  Such brands may still be here physically, but it is obvious they had been long been buried and rotten in the grave. It is just a matter of time.

I was having a chat with a professional in an ailing brand yesterday and I could not but remember one of our previous articles on causes of untimely death of  African Brands. It is still obvious, many brands never learn from others. They will rather wait until it happens to them. In most times it will be late to make necessary changes that had been overlooked. Or how do we explain a brand communication professional who still believes Social Media is a fad and it is only heavy dependence on traditional media that holds the magic of brand communication. The brand will not even dabble into integration not to think of applying or equipping staff members with modern skills. So our question today is: will your brand be here in a decade? But before you answer that, please go through this checklist. I must warn it is not exhaustive.

Find excuses in every opportunity: every opportunity comes with certain challenges. There will be no perfect opportunity without something that will scare you. As long as you find excuses, other people will keep taking the advantage and leave your brands behind until you have nothing left.

Cling to the old cheese: One other factor that can lead to having your seat vacant in the market in the next decade is for your brand to cling to the old cheese. Do you remember that classic book ‘Who Moved My Cheese’? Those who stay long with one opportunity without looking ahead to create the new opportunity will be out of business in no distance time. Your brand may be a market leader today but that does not hold a future. Ask KODAK if in doubt.

Top Management with a fixed mindset: Do you have a top management whose mindset is fixed like concrete? Never worry, the dynamics of the environment will push everyone in the organization out of job. There will be no brand to hold on to.

Waiting for best time: when your brand must usually wait for the perfect time to act is a danger sign. There is no such time as 100% perfect

Must you always win: Many brands will not act except they are 100% sure they will win. Life is not always about winning. Winning is good and everyone savours that great moment. But sometimes, there is power in not getting everything correctly. You can learn the lessons.

Invest heavy budget in things of no much value: there are matters of urgency and there are things that need to be done. Strong ability in ‘right priotising’ will save a brand from disaster. For instance, it is fun to invest heavily in traditional media where the action is immediate but short-lived. Wisdom demands a balance for now.

Over to you, what have we left out? Use the comment section.

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