Have Your Niche

We have spoken on a brand tone and a brand voice in our previous articles and about the importance of the brand authority, but here we are with the Brand Culture now. So, what is a brand culture you might ask- Brand culture is the culture that you cherish and develop in order to powerfully, consistently and competitively present its brand to market. People work as a team to bring the brand to life for customers.

Culture Matters

Just like in real life-culture has a great deal of value in a daily life, and so does the brand culture in it’s daily existence. A strong brand culture helps companies generate higher engagement, stand for customer advocacy, attract the right talent and add key alliances. This creates a virtuous cycle of growth that results in higher shareholder value. The culture expands to actually determine whether a brand is perceived well by both employees and customers. Your culture influences management decisions and all business functions ranging from production, advertising to accounting. The culture of a business affects employees who interact with customers directly.

Not Only Customers

Like mentioned in the previous paragraph, the culture of a business affects employees as well. Sometimes a company pays all attention on customers at the cost of completely forgetting their own employees’ interests. To translate this into daily life-it’s like being a very kind mother to everybody else’s kids and forget to bring your kid a chocolate they asked for at the end of the day. Now that’s a very basic example, but imagine-how could an unhappy employee serve the best example of brand culture to your customer.

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Employee Engagement

An employee-no matter the position-needs to be well informed on general brand strategies, it’s persona and customer interests. Some larger enterprises at a specific level of their development start to have certain unhealthy hierarchy among employees and it’s actually easy to spot-once you notice that there are some individuals who don’t seem to catch up with the views and ideas of the others and it causes them confusion, which later leads to isolation on a personal and professional level. Now, it’s not always the best option to take the “We Are Family” approach, but making it obvious, that all employees are important part of the team and their views, ideas are important-is crucial for a healthy work-space. The funny thing is-sometimes an employee who doesn’t know a thing on graphic design for example, might drop in a great idea out of thin air, yet they might be specializing in a financial segment, but well ideas could be anywhere and you ought to listen to them.

They Want to Stay

Either it’s a customer or an employee, all want to be given reasons to stay. Speaking from the perspective of both sides-constant change in the environment gives you nothing but confusion and frustration. At the core, we are all searching for a safe and stable environment. In the same sense an employee is always looking for a stable job they feel good at and a customer wants to have a favorite product or service they don’t have to think twice on. A good brand culture helps you become a company employees don’t hate going to on Monday (let’s be honest-Mondays are so automatically boring, that making them lovable is a miracle) and customers don’t dread to contact for issues or good news as well.

High Performance Company Culture

With the right attitude and smart work strategy you can create an excellent organizational culture where all is tuned in as one. A high-performance culture has behavior that lead your organization to achieve superior outcomes by setting clear business goals, defining employees’ responsibilities carefully, creating a trusting work-space, and encouraging employees to continuously grow and reinvent themselves.

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Having a brand portfolio means having many popular brands under one big brand.

Advantages of having a brand portfolio

Having a good brand portfolio gives you many advantages, such as:

• Working on many different market
• Working on diverse consumers
• Creating cross-promotion between brands
• Building the credibility of new brands by using already established ones

Types of brand portfolio models

There are 2 types of brand portfolio models. One is called the house of brands and another is the branded house model.

House of brands model means to have all of the brands operating separately. In many cases consumers do not even realize that the brands they are using are under one ownership, because of its diversity. For example: Coca-cola company, which is one of the most popular soft drinks brand around the world, owns several other brands, such as Fanta, Sprite, Dasani, Smartwater and etc.

Under the branded house model are brands that have connection to the primary brand, while operating on its own. For example: federal express, which has many different brands such as FedEx office, FedEx express, FedEx ground and etc.

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Creating brand portfolio strategy

There are companies on the market that use the combination of two recognized brand portfolio models. They are called the hybrid house model. For example: the most popular company Microsoft is the representative of hybrid house model, also it has many brands under its name like Microsoft office and Microsoft azure and it also manages Xbox brand separately.

Now let’s get to the strategy part itself. You may know, that regular analysis of brand portfolio is really important for the success of the company. It assesses the performance of each brand individually, but before that you need to assess the market itself and compare your performance to the needs of the market.

When developing a brand portfolio strategy, you need to take into account the following things:

• What are the market needs
• How existing brands can be differentiated
• What role does the prospective acquisition play
• What is the risk tolerance and what are the risks of the proposed acquisition
• If a newly acquired brand damages already existing ones in any way

Tips for successful brand portfolio strategy

Creating brand portfolio strategy that will be the most effective is really difficult. Here are 10 guidelines of well-defined brand portfolio strategy:

1. Have well-defined role and meet customer expectations

It is really important to have a well-defined role for each brand and take into account the customer needs to become successful.

2. Identify the strategic brands

Not every brand will be on the same level of success, so first of all you need to identify which one bring more to the table and use them as drivers in supporting major businesses in the future.

3. Understand the roles of sub-brands

When you decide to brand a new offering, you will need to understand what role does sub-brands play in it and how much distance is needed.

4. Brand portfolio strategy is connected to the business strategy

You have to clearly state your business strategy using brand portfolio to support growth directions.

5. Find branded differentiators

It means to find any activity, service or program to create a meaningful impact point of differentiation.

6. Use more energy

Some brands that are already well-known on the market may face tiredness, so it is important to use branded energizers to give a new energy to the brand.

7. Leverage strong brands

Getting extension opportunities that will enhance the visibility energy and communication is a must for the future success.

8. Risky but sometimes necessary vertical extensions

You may say that vertical extensions are risky, but actually they are sometimes necessary to create new brand.

9. A corporate brand

A corporate brand can become a powerful master as long as it has something meaningful and positive, be it a heritage, assets, values and etc.

10. Reduce the size of portfolio

It is important to not create brands that have no value for your company. Hence, it is important to eliminate brands that have no role.

Conclusion

Having a good brand portfolio equals to success and it shines new light to the brand identity.