I’ve worked with several different types of businesses from small boutique brands to mega fashion companies. Throughout my career, I can attest that their business approach is almost night and day. ⠀
The smaller brands study mega-brands. They analyze what their good at and what the area of opportunities are. When given the chance to work with influencers they treat the relationships with care. They welcome change, innovation and they use their findings to create the right positioning for their brand. ⠀
Meanwhile, the mega-brands are cruising along. As far as they are concerned business is doing well and they subscribe to the idea that “if it ain’t broke don’t fix it”. They see these smaller brands as ants in the pipeline and not players on the board. I even had one VP refer to the smaller brands as “ankle bitters”. Here is the problem with this ideology; eventually these “ankle bitters” start to become a threat.
And these mega-brands begin to⠀
All of a sudden they begin to ⠀
👉🏾Chase after social media influencers ⠀
👉🏾Treat smaller brands as threats instead of trying to learn from them⠀
👉🏾Throw their money at the latest fads trying to keep up with everything.
They lose focus, they compromise their values, they shift their positioning, and eventually-they lose their customer. ⠀
You know what the worst part is everything I listed above can be fixed. The brand positioning can be re-aligned, values can be adjusted, you can even start working with some of those smaller brands as a collaboration. With a good marketing strategy, all of these can be spun into a “new and improved” business model. The only thing you cant recoup is the customer. Once you lose them and that market share goes somewhere else it can be almost impossible to get back.
In my 1:1 coaching I teach you exactly how to prevent this from happening. Together we will not only discover your customer, but also align on a brand strategy that gives you the strength to build and grow!