5 Reasons Why You Should Do A Brand Diagnostics Workshop
How do you ensure that an important branding topic is tackled from all possible angles, so that your brand positioning becomes stronger? How do you validate that your go-to-market strategy is complete and really helps to accelerate your growth significantly? How do you plan a superior brand experience across all touch-points? These are just three of many possible questions to be addressed in a diagnostics workshop for your brand. If you have not done a diagnostics workshop, here are five reasons why you should do so to achieve disproportionate revenue and profit growth:
1. Strategic sparring with from an external view point
Your brand may look great from an internal perspective. An external view can provide you with crucial insights about current gaps that prevent you from realizing the full brand potential. You will get strategic sparring with highly competent partners who have faced similar challenges in the same industry or in different ones. This provides tremendous potential for new perspectives to accelerate growth.
2. Identification of early warning signals
Brand managers love their brands and work with them on a day to day. And this can make people blind. Blind to see changes and even tectonic shifts in the market structure. In consumer behavior. In competitive moves. Even if a brand may seem successful today, ignoring early warning signals can have fatal results in the near future.
3. Disruption almost never comes from the inside
It's not a secret that disruptors are seldom incumbents. Being "invested" often prevents from seeing opportunity for disruption. External perspective can challenge the status quo with different thinking and by connecting information differently than internal stakeholders would do it. It's a great opportunity for disruption.
4. Breaking down internal silos and speeding up action
Innovation is often prevented by internal politics, silos and different objectives within a company. An external view can help to overcome those barriers and unite teams internally, breaking the limitations of internal politics. This allows for faster buy-in and more agile implementation.
5. Challenging internal beliefs
You are probably familiar with "we have always done it this way" or with "at ... we do things with process XYZ...". Teams get used to internal procedures, templates and beliefs. If 2% growth is acceptable, it won't be questioned and people may settle for less than what is possible. If products were always priced according to a pre-set approach, opportunities for value creation and profit boosts are lost. A workshop can challenge those beliefs, provides benchmarks and ignite thinking in disproportionate growth opportunities. Especially premium and luxury brands will profit from a pricing audit that can indicate opportunities for non-linear pricing and profitability increases.
In a workshop we meet with you and your teams and kick-start the solution of a specific task. We will analyze a topic for you, ideate and challenge. Your benefit: you get an outside-in view by a critical, experienced sparring partner with strategic and operative knowledge you can tap in to.
Every workshop will lead to a deeper understanding, a 360-degree view on a challenge, detailed diagnostics and a rigorous action plan. Contact us to set up a meeting.
About the author
Dr. Daniel Langer is CEO of Équité, a global branding and brand strategy firm that elevates brands and increases their value, profitability and success. He is an authority on brands, brand equity, brand positioning, pricing and luxury management. He holds a PhD in luxury marketing, is author of several top-rated books, book chapters and articles on luxury. He held top management positions in USA, Japan and Europe and was responsible for developing, launching and strengthening iconic global beauty care brands.