I DID THIS RECENTLY …
If there’s anything that I know, it’s that popularity can never be the sole qualifier for anything – not in life and certainly not in business.
Understanding where your line is as a brand and what opportunities are on the right or left side of it is critical to maintaining the integrity of your mission and delivering what your customers expect of you.
Here’s a few things to consider when choosing opportunities for your brand, whether that’s a celebrity partnership, an influencer for a campaign, a co-branded product launch, a new retail partner, or anything.
#1: Match it to a goal.
When I sit down with a client or a Brand Story Mentorship student who has a bright idea (I’m not being sarcastic, I promise), my first question is always “What’s the goal?” You can have an idea better than baked bread marinating around in your head, but if there’s no goal attached to its execution, you have to ask yourself why you’re putting money and resources toward bringing that bright idea to fruition. Most business owners begin the year with a set list of business and brand development goals.
Make sure that the opportunity you’re considering helps you reach one of those goals, and isn’t just something that popped into your head in a dream and sounds nice to other people who don’t really know or understand your long-term vision.
If you can’t match the new opportunity to a business goal (one that you confidently set out for yourself over plenty of coffee and your trusted clique, by the way), table it. Plan to revisit when it makes more sense for you strategically, if at all. If the opportunity would, in fact, help you to achieve one of your business or brand-building goals, proceed …
#2: Check your values.
Since popularity or your own starry eyes cannot be the qualifier for recognizing a good opportunity for your brand, you’ll need to rely on a list that is much less emotions-driven and more rooted in business logic – one that allows you to simply check “yes” or “no”.
When helping my client determine the best celebrities to partner with for her brand, I created a Partnership Criteria List. In addition to quantitative status requirements (community size, social engagement, influence, notoriety, etc.), it also included perspective and personality qualifications that would help us determine whether or not a prospective partnership was truly a good move for the brand.
#1: Prove the potential.
Choosing an opportunity that does not reflect what you stand for as a brand creates mistrust amongst your customers and slowly, but surely, erodes the ideals that your business claims to stand out. That erosion, over time, leads to irrelevance. And irrelevance, as you know in the business world, leads to failure.
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If you’ve been struggling with how to communicate to your target audience what makes you different from the rest, click here to download your FREE copy.
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