Is It Finally Time to Flip Your Brand?
“A brand isn’t what you say it is, its what they say it is” - Marty Neumeier
We are yet to see the full fall out, loss in revenue, court cases but more importantly long term brand damage from the Volkswagen emissions fraud. What is certainly clear is that the leaders at the company had lost sight of the new reality in branding.
They were of the old belief that short-term profits and revenue and what they determined was right for the brand was the way to build the business.
In his latest book, “Brand Flip” Marty Neumeier tells us that this is no longer the case. The book takes many of his earlier thoughts from a book series, especially from The Brand Gap and Zag, and applies to brands the background of technology and social media that was not around, or at least so prevalent, when those two books were written.
Brands can still be highly successful and profitable, so branding continues to be very relevant, but now with social media the future of those brands and the companies connected to them is in the hands of the consumer. What Seth Godin called Tribes and in fact Marty wrote about first in The Brand Gap.
There are 10 new realities to consider;
- Power has shifted from companies to consumers.
- People are not focused on products but meaning.
- Customers buy products to build their identities.
- They hate being sold but they love to buy.
- They buy in tribes to feel safe and successful.
- The battle is no longer between companies but tribes.
- The company with the strongest tribe wins.
- Tribes are connected through technology.
- Brands need to flow through multiples technologies.
- The most successful brands are not static but fluid.
The book offers more than an insight in to what is happening with brands. Through 18 chapters it offers up ‘flips’, something we have expected in business but now has been changed and impacted by technology, as to how a brand can build those all important relationships with its consumers.
The chapter on Purchase Funnel versus Brand Ladder outlines the need to move away from just a short term revenue and profits focus to longer term brand building and development through the customer. It offers an excellent suggestion as to how to measure how far toward the consumer ‘owned’ brand you are currently. The rest of the book gives you the steps you will need to take to achieve brand Empowerment at the top of the ladder.
I have been a member of Marty’s tribe ever since reading The Brand Gap. Now with The Brand Flip he takes all the past wisdom and packages a solution for the new brand reality. A must read for any marketer, brander or business owner.