Reputation is key
By Toby Southgate, Managing Director, The Brand Union
It might always be fashionable to be cool, but it does beg the question of relevance In a world where brand is increasingly equated to reputation, not to logo - does being 'cool' have any bearing on measuring real brand value? This is particularly difficult in a world where brand equates to reputation, not to logo, especially within the world of B2B.
We know consumers want more – more value, more added extras, and more product excellence. Their relentless capacity to scrutinise organisations coupled with the advances in the way they access information, connect and interact, has created the emergence of wider and more complex spheres of influence. Ultimately this has significantly shifted the environment in which brands operate.
Awareness and understanding have evolved to such a degree that conversations are happening outside a brand’s direct control, influencing and to some extent driving a brand’s reputation. And if left unguided, the ramifications can prove disastrous. So, while 'cool' might be important for ego, it is reputation that is now more vital in safeguarding a brand's value in the long-term, considering the fickle nature of the current economic climate.
The need to invest more time into developing long-term strategies to better interact with consumers across multiple touchpoints consistently – and effectively ‘gently’ guide brand reputation – cannot be underestimated. Being cool may contribute to your brand’s fame, but you know what they say about that lasting only 15 minutes.