CDK's purchase of Auto/Mate may create a major disruption in the dealer management system (DMS) industry. Here is our take. DOWNLOAD
Yes, the election is over and I’m grateful to not be bombarded with political ads every time my favorite show is on commercial break for the next four years. That being said, there are some lessons we can learn the race for the White House as far as brand management goes.
1. Stand for something and stay on message
Quite simply, the more rigorously you can define your brand story and control the projection of it, the better the marketplace will understand what you stand for—and be ready to buy from you.
2. Where are your brand advocates?
Bain & Associates research shows that the brand that is most highly recommended in its category grows 2.5 times faster than the category average. That finding clearly demonstrates the advantages of encouraging your customers to become brand advocates.
3.Remain consistent across all forms of media
The more channels of communications you decide to open means the more difficult it will become to ensure the same message across all platforms of media. It is important to be consistent, and control your communications to ensure that they all speak with one voice.
4. React Quickly
Negative publicity can be overcome—so long as you react quickly and ensure that everyone involved in dealing with the crisis is armed with the same consistent information and approved response.
For example: Remember when Coca-Cola refused to admit its water brand, Dasani, when launched in the United Kingdom, was actually purified tap water produced in a factory in London? Bad call. By contrast, Robinsons sensibly recalled its Fruit Shoots drink recently as a precaution over bottle cap safety—before damage could be done to brand image.
No matter if you’re in the business of politics or commerce, the same rules apply: Keep the message consistent, gain and sustain customer goodwill, and respond quickly to both negative and positive publicity.