As the economy continues to build steam, we’ve seen a lot of interest in revitalizing brand and marketing efforts. Over the last few years, many companies have scaled back marketing expenditures, waiting for business to return to “normal” levels. Unfortunately, the most common result has been stagnancy and lost market share. Today, businesses are collectively gaining confidence in the stability of the “new normal,” and a branding and marketing strategy are reappearing on the agenda. Why the renewed push? Many companies have realized that unless they change their strategy, they can expect the same results.
The reality is that the world today is very different from the way it was before the recession. Think about it. Since the recession took hold in 2008:
- The iPad was invented and is increasingly being incorporated into sales and other professional applications
- Social Media has become an undeniable force in marketing and business development
- The B2B world has followed B2C in becoming increasingly reliant on online marketing, making many printed methods of marketing and sales obsolete
- The rapid adoption of smartphones has begun to replace online in many applications
And that’s barely touching the surface. Marketing strategy has changed drastically with cultural shifts in how we adopt and interact with technology. And if your brand strategy hasn’t evolved, you may no longer be as relevant to your clients.
Brand strategy is about growth. It’s about change. You generally don’t start a branding project if you are comfortable where you are. Investing in your brand strategy is an investment in the long-term growth of your company. Your business cannot expect breakthrough changes in business results without a breakthrough change in strategy. With change comes new, uncharted territory. A brand strategy helps determine the best path by clearly defining your future targets, and more importantly, what they look for in a company like yours.
Is your business gaining confidence in the economy?
Are you adjusting your strategy to prepare for new opportunities?
Learn more about the author of this post, Kristy Gulsvig.