The bigger the brand, the more power they have and the more profit they generate.
Although this sounds reasonable, it’s not always the case.
Most brands will have in their strategic planning something that talks about growth either new or organic. However the planning, implementation and executing all need to work together to achieve the desired expectation and revenue/profit growth. Unfortunately, none of us has a crystal ball – gaps in a strategic plan or unforeseen circumstances can create opportunities. These can be filled by smaller brands looking to create revenue from a larger brands oversight or negligence.
Large lumbering brands can succumb to a more quick and nibble, smaller brand, format.
Here are some ideas:
- Offer Value that counts – every brand talks about offering value, but try to get the value delivered personally. Saab/Saturn were very good at this – small brands succeeding under the umbrella of the GM giant. When you bought a Saab/Saturn – you belonged to the club and you received a gift in the mail plus periodic follow-ups. How could you lose?
- Know where you can compete – don’t try to be all things to everyone, hoping that you hit the purchase button. This shotgun approach is doomed and your brand identity scattered at best. Study your major brand competitors and choose where to attack and take revenue. When Walmart came to Canada it seemed Canadian Tire was doomed (and it looked like that for a while). However they discovered a few weaknesses of the US giant and competed – carving out a new niche for themselves.
- Get Focused – find the area that allows you to stand alone and own within the competitive marketplace. Smaller, private run coffee shops are popping up all across the country taking revenue and customers from the giants. They have focused on quality products, personally offered, environmentally responsible purchasing practices that let them stand-alone – the larger brands can’t come close to this formula. Once the “machine” gets huge, corporate governance will take a back seat in order to produce shareholder profits.
- Use your social media – plus others – people want to connect and help, it’s in our nature. The greater the need the more required and the more we’re willing to give. Utilize as many social networks as you can – plug into your customers and have them plug into you. This will never happen with the larger brands, it just isn’t possible.
- Stay under the radar – Sometime you can get more accomplished with staying out of sight. Make your moves – “pop up when you need to” and then disappear. Every large brand has experienced this tactic and then wondered – what happened! Use the technique only when you’re sure you can win, to do it any other way may expose you too much.
There’s a good amount of revenue floating around out there everyday. The larger brands are focused on the mega wins and are “OK” with letting a few smaller and sometimes larger wins slip between their fingers. As a branding agency you can survive, thrive and grow your revenues very well with a few of these wins each year.