It has been said, Margaret Mead when CEO of the American Museum of Natural History, required every employee to undergo psychiatric counseling. Her thinking was that all people can benefit from being in touch with their inner selves and that every wo/man can benefit from better mental health. I love this woman.
In my opinion, every brand can benefit from being more self-aware and having better brand strategy health. Marketers are hyper-sensitive about their products. As they should be. In service industries they are sensitive about service delivery. Large companies have big departments dedicated to product management and product marketing. These people eat, sleep and live the product — from supply chain, to legal, to distribution, competitive position and pricing. But few people are in charge of actual brand strategy. (Large consumer packaged goods companies like P&G are the exception.)
AT&T Business Communications Services was the first service company I knew that actually managed the brand with a brand strategy. And it worked like crazy. I have borrower their rigor for brand management and tweaked it a bit for use in my brand strategy practice. And though my clients don’t typically have the marketing budgets and data tracking of AT&T, the theory and practice is alive and well and still very effective.
Brand strategy, or the “organizing principle for product, experience and messaging” as I like to call it, is every bit as important and predictive of success as is proper product management.
Write Steve@WhatsTheIdea to begin a discussion of your brand strategy and a health-check of your brand.