They put their egos aside and exited unprofitable products/services to manage their #BrandIdentity.
#CNN shuttered their CNN+ streaming service after 30 days after investing $300MM.
#IBM and #Maersk discontinued #TradeLens, a blockchain-enabled trading platform meant to unlock a $3.4 Trillion trade gap in the trade finance market.
Managing brand identity for yourself or your company considers three hurdles:
- Differentiation – Do we stand out?
- Relevance – Do they (target audience) care?
- Sustainability – Can we own it (i.e., Can we build moats around differentiation)?
Taking the time to do this type of audit will help you improve:
- Brand Essence – What you want people to think about when they think of your/your company
- For us, it is Access to Capital
- For #Disney, it would be #family or #storytelling
- Core Identity – Action words that are timeless, important, and substantive
- For us, it is deep knowledge across multiple industries
- For #Merck, it might be innovation
- Extended identity – Brand as:
- Person – #HarleyDavidson is tough, yet American
- Symbols – #McDonald’s has the Golden Arches
- Products – #Tesla offers the feeling of sustainability
- Organization – #Tiktok shows innovation and excitement
Take the time to do this and you will better align your capital, processes, and resources to beat your competition.
I write seven days a week to help business owners and real estate investors:
✅ Accelerate value,
✅ Become better leaders,
✅ Access capital
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