Building your Brand: Steer Clear of ‘Shiny New Thing Syndrome’

1. Define and Stick to Your Brand’s Core Values

Creating and maintaining brand identity is the foundation of building brand equity. Brand identity defines how customers distinguish your brand from others. It is built during the introduction phase when consumers first take notice and seek to understand what the brand represents (category, appearance, function, differentiation). There’s little relationship or trust at this level, and buyers focus on functional needs and benefits.

Brand awareness and familiarity are common metrics, as being “top of mind” correlates strongly with purchase behaviour. However, over time, brand awareness encompasses memories and experiences, including recognition of the brand identity (logo, slogans, colours, etc.), sometimes described today as Distinctive Brand Assets. The Mere-Exposure Effect9, studied by Gustav Fechner and Robert Zajonc, demonstrates that increased exposure builds favourability. Visibility and availability benefit any brand. It was neatly described by Edward B. Titchener as the “glow of warmth” felt in the presence of something familiar.

Your brand’s core values are the foundation of your identity. Clearly defining these values ensures that every decision and action aligns with your brand’s mission and vision. When faced with a new trend, evaluate it against these core values. If it doesn’t align, it’s a distraction rather than an opportunity. Staying true to your values fosters trust and loyalty among your audience, which is far more valuable than any fleeting trend.

2.  Establish a Long-Term Brand Strategy

A well-thought-out long-term strategy is your roadmap to success. Most companies spend most of their time focused on their tactics and rarely on their strategies. Brand consultant Mark Ritson once said about companies and their lack of a proper strategy, “What you find in the back of the wardrobe is precisely nothing… for really large brands, there isn’t anything there!”

This lack of strategic thinking is commonplace, and it probably explains why there is often an over-emphasis on short-term tactical marketing and why marketers yearn for the next technological breakthrough on which marketers can hang their hats. Your long-term strategy should include your brand’s objectives, target audience, key messages, and the channels you will use to communicate. By having a clear plan, you can assess whether new trends fit within your strategy or if they are merely distractions. Regularly review and adjust your strategy to ensure it remains relevant, but avoid making impulsive changes based on the latest craze.

3. Prioritise Consistency in Messaging and Visuals

Consistency is crucial in building a recognisable and trusted brand. This means maintaining a uniform message and visual identity across all platforms and touchpoints.

Simply put:

• Centre your business around understanding your customers’ needs and how you provide solutions. Your goal isn’t simply awareness; it’s making customers care.
• Choose your words and visuals with intention, and never underestimate the importance of consistent details. This includes being honest with clients and promoting an engaged team culture.

When a new trend arises, consider how it fits within your established messaging and visuals. If it requires significant deviation, it could confuse your audience and dilute your brand’s impact. Consistent branding helps reinforce your message and strengthens your brand’s presence in the market.

4. Evaluate the ROI of New Trends

Not every new trend will benefit your brand. In his book The Diary of a CEO, Steven Bartlett outlines the 33 laws of business and life and makes the point that ‘You Must Lean into Bizarre Behaviour’ (Rule No. 5). Leaning in means drawing towards, or staying in touch with trends and avoiding being left behind by technology, social or cultural shifts. In this context, Bartlett refers to the bizarre as that which is new and different initially, but might be tomorrow’s new normal. CEOs and marketers miss these shifts at their peril. The opposite, ‘Leaning out’, is where ignorance or arrogance occurs and where business leaders falsely believe they are right and fail to pay attention to a trend or new information.

Before diving in, conduct a thorough evaluation of the potential return on investment (ROI). Consider the costs, the resources required, and the expected benefits. Use data and analytics to make informed decisions rather than jumping on the bandwagon without a clear understanding of the potential outcomes. This analytical approach helps you make smarter investments that contribute to your brand’s growth.

5. Focus on Building Relationships, Not Just Following Trends

“A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.” – Seth Godin

Building strong relationships with your audience is more valuable than being the first to adopt a new trend. Engage with your customers, listen to their needs, and provide consistent value. Authenticity and trust are the cornerstones of a lasting brand relationship. By prioritising these relationships over chasing the latest trends, you create a loyal customer base that will support your brand through changes and growth.

Takeaways

Staying focused, consistent, and motivated in a world filled with constant distractions is a challenge for any brand leader. However, by adhering to your core values, establishing a solid long-term strategy, maintaining consistency, evaluating the ROI of new trends, and prioritising relationships, you can navigate the landscape effectively. Remember, the strength of your brand lies in its authenticity and the trust you build with your audience. Stay true to these principles, and you’ll steer clear of ‘shiny new thing syndrome,’ ensuring long-term success and growth for your brand.

Follow Charlotte Baird and Vision One on LinkedIn for more marketing, branding, and market research insights and exclusive news about the imminent release of our CEO Tony Lewis’ new book, Brand Momentum.