There's obvious appeal in selecting a descriptive, generic brand name. But when you do, the…
BRAND LIFT: Know when it’s time to course-correct.
by Anne Berg
In sailboat racing, there’s a term called “lift” which refers to the force produced by wind and water that propels you forward to the finish line or a mark on the course.
You can be sailing along on either a port or starboard tack, making headway when suddenly the wind shifts and you’re no longer sailing a favored angle to the mark. So you correct your course and tack.
In business, when you sense the marketplace is changing, it’s important to make course corrections and get on track. Yet, how do we know when the timing is right? How do we know what to do?
- When employees are disengaged, empower them to lead.
- When customers are quiet, talk with them in person.
- When markets soften, revitalize your key messages.
- When competition disrupts, evolve your brand positioning.
- When profits are shrinking, improve your product/service offering.
- When intuition is nudging, take bold and calculated risks.
If you find yourself in a shifting marketplace, you’ll need to make adjustments. Getting to the next mark depends upon your awareness of the many moving elements impacting your success. Pay attention and take action. Or you’ll jeopardize all the gains you’ve made on the way to the finish line.