Most leaders want their businesses to grow, but it’s not easy to manage. Growth can be painful and costly.
There are many triggers for business growth: innovation, mergers, acquisitions, investment, organic success, a need to survive… but it usually comes with a host of challenges. It can even bring a business down. A strong, well-managed brand strategy will help protect the business and enable growth.
Growth: tactics or strategy?
To achieve growth, businesses often turn to short-term product or sales tactics. The trouble is, they’re short-term! The result is endlessly having to think up new tactics – which are usually easy for competitors to copy or attack. But a strong brand strategy will last decades, or longer. Powerful brands can ride out economic or market shocks even as competitors struggle.
Growth: unchartered waters
Business growth usually requires something new: products, markets, people, premises, partnerships, and maybe even more. And that can be unsettling. As a leader, you must cope with uncertainty, responsibility and accountability. A powerful brand can take the pressure off.
When you’re facing the complexities of a merger process of this type, you need trusted advisors who have your back every step of the way. From the early seeds of an idea, Studio North were that kind of advisor and helped plot a smooth course through the challenges ahead.Niel Bethell, CEO, NSS
Growth: preparing the whole business
Managing culture, maturing operationally, maintaining sales, moving, hiring more people… all classic growth challenges. But branding wraps around all of this. And although it won’t directly solve working capital issues, branding gets to the nub of many challenges, often solving problems before they arise.
Recognise these growing pains?
A strong brand strategy can help to avoid or solve problems such as:
- Keeping up with the sheer pace of change
- Maintaining consistency across your brands
- Futureproofing your brand architecture
- Holding onto your culture
- Retaining great people… and finding new ones
- Winning new customers… and not losing existing ones
- Worrying about becoming too ‘corporate’.