One of the core purposes of a brand portfolio strategy is to help customers navigate the scope of a company’s offer in a way that best reflects the brand’s promise. Now, given the turbulence of markets, shifts in competitor service disciplines, your own tactical and strategic pivots, and the evolving sentiments of consumers post COVID-19, the importance of a strong and clearly defined brand architecture cannot be overstated.
As we all emerge from the immediate and significant challenges of the pandemic and begin to settle into our new economic reality, it is increasingly clear that attention spans are shorter, discretionary budgets and spending diminished, and ultimately, brands are trying harder to secure their share of both market, mind and wallet.
In this state of flux, a brand architecture review can help an organisation streamline their brand portfolio so as to maximise return on investment and minimise confusion in the market.
There are a number of brand architecture models that may be appropriate for your unique organisational strategy. Considering the ever-changing environment we find ourselves in, which brand and product architecture strategy is the best fit for you?
Our publication e-book – An Introduction to Brand Architecture outlines the core brand architecture structures that are available:
In this COVID-19 environment, if you are changing markets, channels or products your existing brand architecture is going to be implicated. There are certain questions we are being asked at BrandMatters in relation to this, notably, will your existing brands stretch to new markets, or could you serve the same or new markets with fewer brands? For businesses looking to pivot their core offer and brand away from displaced markets or towards more lucrative COVID markets, how do you inform such decisions? How do you mitigate risk and maximise the opportunity?
As marketers looking to find answers to these fundamental brand architecture conundrums, some of the most significant considerations you will need to assess when undergoing your brand architecture review include…
The more brands you have the more thinly spread your (dwindling) marketing budget will become. A good first step in a brand architecture review is to logically assess the number of brands you need verses how many you currently have, considering also the necessary market requirements and demand post-COVID. It’s essential your offer doesn’t appear to cannibalise itself. If your organisation has made acquisitions, mergers or diversified recently, asking whether there are there brands that are now competing due to overlaps in service offering or across similar channels is essential. It may also be the case that incremental additions over time have created complexity and confusion, which are likely to have been accentuated in the context of the pandemic.
Brand distinction, in terms of quality or features, is one way to ensure that customers aren’t interpreting your brands as too similar, whereby the price becomes the determining factor in decision-making. In my experience, when customers experience difficulties understanding the full scope and relationships between brands, they seem to be restricted from fully connecting with the brand and are also more likely to make price-based purchasing decisions or search elsewhere. In this turbulent and over-communicated context post-COVID, attention spans are undoubtedly lower, and your brand need to be aware of this when it comes to the organisation and presentation of your brand portfolio in the market.
Testing your proposed new brand architecture structure through brand research will help you ensure you succeed in implementing an optimal model. Without properly stress testing your new or revised go-to-market strategy, you risk investing heavily against an unproven brand architecture strategy that may not be custom fit or suited for growth post COVID-19.
A brand framework that has been designed for today’s crisis without adequate flexibility given to future challenges will inhibit growth and increase of market share. I have found this fundamental flexibility is not always considered in brand architecture strategies. So, building flexibility into a brand framework requires longer term strategic thinking, and an understanding that markets that previously existed to serve customers are now intrinsically altered from what they were before.
Another useful way to demonstrate flexibility is to provide greater certainty around the levels of risk in the investment your organisation is making with any potential brand architecture. This is essential for the marketing function of any organisation to demonstrate flexibility to C-Suite executives, where your role in the overall position of your organisation can look to showcase higher-level strategic thinking that gratifies budget expenditure.
Before and throughout the pandemic, BrandMatters has been assisting organisations across multiple industries in re-evaluating their brand architecture to ensure they are match fit for the post-COVID context.
We’re offering a comprehensive productised solution that enables organisations to map their suite of products and services, and inform decision making in the management of these portfolios, in a cost-effective, efficient and accountable way.
If your organisation needs assistance in evaluation of your brand architecture, get in touch with the BrandMatters team here.