A lot of brands will obviously not admit that their brand is losing focus even when the signs are glaring. Start-up businesses and already established business lose focus that is why you hear about a big brand today and tomorrow you hear they have shut down.
There are probably things your brand is not doing right which could be reasons you are not doing well in the market, even though you may not realize that some of those signs you see are reasons your brand has lost its focus.
Below are signs your brand is losing focus or already lost focus.
- Your Products Are Out Of Date
Ever wonder why you go to some stores to purchase an item and they tell you it’s an old stock? That’s because they always move with what is trending because that is what keeps the brand moving.
When the products or service you render lack currency, there is hardly an impact made with the product. As a brand you should understand what the needs of target consumers are and meet up to it, because if you don’t other brands will and it will not look good on your brand.
Do not just think that you sell products to generate sales rather you should think of your products and services as a solution to the problems of your consumers because on the long run, your brand is not defined by what you offer but what value it adds to consumers.
- You Are Diversifying to Drive More Sales
A lot of people will assume that diversification is a great way for a brand to be known and to achieve success but this can be tricky because when it is poorly done, it has the power to put to bits what your brand has attained over time.
When you are not sure of what niche your brand should carve out for itself that becomes a problem because there is no focus on what the competitive approach will be.
Once you rush in to diversify it might show the level of indecisiveness of your brand because you are not focused on one thing.
Therefore, rather than diversifying create a clear and consistent strategy on your existing brand on the peculiar needs of your customers and solve them.
- You Focus A Lot On Price
Being a low cost product and service provider has a lot of competitive advantage especially when the products and services are of high quality. A competitor finds out that you sell products at cheaper rates, they do that too because they want more customers.
It is right to note that even when you are trying to convert more leads, do not forget that it matters a lot what value you are adding with your brand rather than what you offer.
Just like Jeff Haden of inc.com said, the concept of adding value is achieved with the combination of price, schedule, service and the relationship you have with your customers.
If you focus too much on price, you will be constantly making your customers look for lower prices rather than value. Determine a strategy to balance lower prices and adding value.
- You Have Different Messages In The Market
You know you are a “jack of all trade and master of none” when you have a lot to say about your brand but none of what you say is consistent or in harmony.
If your messages are focused on offers of particular products and services without stating exactly what the brand stands for it could become a problem because your audience becomes confused of what your brand is about and what it does.
Your target audience needs to know why they should patronize you rather than your competition. Thus, you need to ensure that the campaigns you send to target audience are corresponding with products and services you offer to avoid being seen as an indecisive brand.
- You Are Always On Sales And Giveaways
Sales and giveaways are ways of engaging customers and converting more leads but it can also be hurtful to your brand because you have conditioned your customers to buy only when on sales. Just Imagine that the only reason you have customers is because you are constantly on sales and giveaways.
Nobody takes your brand seriously, in fact the only reason you have followers like them is because of the freebies they want to get and the lower prices you offer during sales, most consumers tend to buy in bulk during this time and stock and wait for yet another sales period to purchase more.
According to Nancy Smith, the CEO and founder of Analytic partners who has been studying the impacts of sales and promotions across several countries, “If you’ve spent many years training customers to wait for your price promotions it’s very hard to get back to profitability”.
Therefore, if you want your brand to continually thrive, you should determine what your short term and your long term goals are, develop a strategy to determine when it is necessary to conduct sales, this helps to build brand strength.
- Your Customer Engagement Drops
Your customers are part of the major reasons of your brand growth because they are the ones who keep you relevant in the market by patronizing your brand
Therefore, when there is a drop in customer engagement, it is a sign there is something you are not doing, it could be a drop in followers and customers or it could be anything else. You need to know when your brand has lost its connection to your customers and get back on track.
You can develop a strategy that will help you get the connection you need back.
- Compromising On Product Quality
The quality of your product or service determines how well your product is doing in the market and how well it should be doing on the long-term.
Quality is necessary to satisfy your customers and retain their loyalty so that they continue to patronize your brand overtime, the quality of the products or services you offer can make a contribution to your brand profitability and brand growth.
Compromising on your product or service quality just to attract more sales may cause a taint for your brand because when your target audience notice that the product or service you render is of low quality they will decide to look for quality with another brand.
If it has been in your brand culture to provide quality products and services to your clients, do not compromise providing quality just because you want more sales.
- Trying Out New Ideas
Due to the fact that customer needs and demands keep evolving, it is normal for any brand to try out new ideas but some brands tend to lose focus during this process.
Consistency is always key to reaching a goal, some brands try new ideas almost every time without pausing to check how well the previous ideas have been doing or what needs to be done about that rather they move on to the next idea leaving the target audience confused of what exactly the brand is doing.
You should try new ideas but before you jump on to the next one ensure that the previous ones did not work for the reasons you wanted it to.
- You Copy Your Competition
Even though Indomie noodles and mimee noodles are identical products, the difference is the quality and variety both brands offer.
To be able to stay at the top even in the midst of competitors, brands try to copy what their competitors are doing. They try to adopt business strategies and tactics without knowing the long term goals of such strategies and tactics.
Your brand can lose focus by trying to do what your competitors are doing rather than carving a niche that your brand that your brand will be known for. To avoid copying your competitors, determine what strength your brand has over others and use to your advantage
Also, having a brand story that people can connect with on a deep level can help your brand create a difference from your competitors.
One of the challenges brands are facing is being able to balance currency, legacy, staying relevant and at the same time developing new ideas that keep the brand interesting and keep the target audience engaged.
The brands who stay afloat are the ones who know staying ahead and getting ahead requires hard work and smart strategies.
Brands should be able to meet up the demands of their customers without losing focus of what they stand for and why customers keep patronizing them.
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