Will your ‘pivoting’ leave you aimlessly spinning or do you have solid ground to enter a more competitive time?
The Covid-19 restrictions have left many businesses reeling rather than pivoting. Medium-sized businesses have been especially vulnerable to the sudden loss of customers as tourism has dried up, hospitality spaces are pared back and anything to do with flying or events has slumped – and most of the overheads haven’t gone away.
While everyone’s been looking forward to restrictions easing, now what? More competition for a returning dollar and fewer people with the cash to spend casually are going to make it tempting for businesses to slash prices to get their share but there has to be a better way.
I believe people are going to favour trusted brands more than ever as they come out of an unsettled and disturbing time. They will want to have the iconic experiences they haven’t had, buy things that have real value and avoid any risky surprises – we’ve had enough uncertainty for a while.
That doesn’t mean new brands won’t flourish but they will need to inspire confidence with their values, distinctive voice and professionalism.
Whether new or old, brands will need to evoke the right feelings and speak the right language for their market and for the time.
An opportunity to differentiate
Over the next few years, it will be survival of the fittest. While it’s tempting for businesses to spend nothing, or as little as possible, this is a time when you particularly need to invest in ensuring you’re ahead of the crowd.
If your ‘brand’ has been no more than a logo and a colour palette, now is the time to think about who you really are, where your strengths lie, what you value and how you can use those things to carve out a distinctive niche.
Perhaps your whole look and feel needs a makeover to signal something new and to add perceived value to the experience of your service or product.
It may be your messages, your packaging, your photography, your story or your website that needs to connect with people in a more effective way.
There are going to be huge opportunities to tempt people to experience the things they’ve missed or never experienced but how will they choose between your offering and 101 other claims on their discretionary expenditure?
Value is more than skin deep
Real branding isn’t about a superficial makeover. It’s about what you live by everyday and how you deal with every interaction. Ultimately it’s what your customers come to say about you.
What would your customers currently say? What would you like them to say? How will you get there?
Lloyd Grey looks at branding from the inside out and helps you build the framework for a resilient and compelling brand. New designs and ideas are not random but deeply rooted in your brand DNA. That gives them longevity and makes them a foundation for the future.
If you’re determined to ride out the next few years and emerge a leader of your sector, now is the time for a brand health-check.
Don’t take short-cuts. You need someone who will work with you with honesty and effective strategies, sharing knowledge and skills to take you to the next level.
As a small Queensland business ourselves, we’re keen to support those Australian businesses that have the passion to create something outstanding and help the economy rebuild.