Building Better Brand Resilience: A Guide For Entrepreneurs
In a world where change is the norm, it’s vital to have a resilient brand. A brand that is able to adapt to adversity, challenges and changes in the marketplace will always be better placed for long term success.
Taking Time to Listen and Understand Customer Experiences
Resilient businesses take the time to Building Better Brand Resilience: A Guide For Entrepreneurs relationships with customers. They understand that the most effective way to build a loyal following is to provide them with a great experience, both online and in-store.
Understanding a Brand’s Voice and Tone is Key
Strong brands are flexible in their tone of voice, as well as their visual identity. Flexibility allows a brand to respond quickly to changes in the marketplace and within the customer base, while still keeping the brand’s core messaging consistent across all touchpoints.
Developing New Product Offerings is an Option for Creating Resilience
A strong brand does not need to be a one-product company. Instead, a resilient brand builds a base of repeat customers by selling a variety of products and services that appeal to the same customer.
Weathering the Storm: A Guide to Building Brand Resilience for Entrepreneurs
Resilient brands recognize the value of varying and diversifying product offerings, as well as the need to reward cognitive diversity in their staff. This enables them to be more creative, and develop alternative ways to react to situations.
Resilient companies are not afraid to make big decisions in the face of adversity or change. For example, CVS walked away from billions of dollars in business by removing tobacco products from their stores because they did not fit with the brand promise of helping customers make healthy choices. The decision may have had an impact on financial results, but the public statement they made about their values and commitment to the brand will resonate for many years and build resilience in customers.