FunMarketer Lesson of the Week
Craig what is Brand Drift? Is it something to worry about?

The FunMarketer Answer:

Both multinational corporations and small family businesses fall victim to Brand Drift. The word “drift” implies slow, rudderless change in marketing position. It also implies a lack of power. Two types of brand drift can poison a business; each is equally lethal:

1. Customer base moves away from the company due to:
– shifts in technology
– demographic or behavioral changes in customer base
– other external causes

2. Company moves away from original mission – this is typically caused by forces internal to the company.

An example of #1 – currently individual consumers and a trickle of businesses are migrating away from desktop-based software installed on the local computer, and heading toward ‘cloud computing’, where the processing is done on a remote server. If you are Microsoft, you must be vitally aware of this shift, and react quickly.

An example of #2 – right now somewhere a small family-owned bakery under third-generation ownership is changing its focus from customer-service to cost-control. The current ownership believes the way to greater profits is to squeeze costs and reduce the product quality. Within five years they’ll lose half their customer base and be a ghost of the company grandma founded.

How do we avoid Brand Drift? How do we deal with it?

For #1, External Forces causing the drift, we keep our finger on the pulse of the industry. We:

– Read industry publications and watch for trends
– Watch our competitors; their moves can signal to us changes they see
– Run periodic checks of our customer base – surveys or database analysis

For #2, we need to have other people in the company challenge us. If we are in senior management, we must allow opposing opinions into our meetings and listen to them. If we are in marketing, then we need to be aware of our company’s position in the past, and, if we are changing our position, then our marketing will need to change with it.

Brand Drift is survivable and to some extent inevitable. However, managing it successfully is often the difference between success and failure.

Call me for more ideas at 402-423-2444 or email me at funmarketer@marketinghawks.com

FunMarketer Free Campaign Idea of the Week

Here’s an idea for a mutual fund company, insurance agency, small bank – any business that needs to generate consumer interest in a financial product.

Photo: Istock #6781428

Headline: Just think, Billy – We Don’t Have to Worry About Insurance For Another Ten Years
Subhead: Yeah, Now If We Can Just Figure Out Where Rex Buried the Mustard.
Lead Sentence: “Don’t you wish you could go back to a simpler time with your insurance decisions? Unfortunately they’re counting on you for their security.”

FunMarketer Tip of The Week

As a marketer you know how emotions are completely tied into the purchasing decision, and therefore to your brand. For a great look at why emotions reinforce the brand, check out Gordon Hotchiss’ Search Insider Post Aug 21.

Happy Marketing!

Craig Lutz-Priefert