Brands, like living beings, have a lifecycle. They are born, grow, and eventually, face the possibility of decline. This concept, contained in my new book, Brand Momentum, explores the inevitable decline of brands and offers strategic insights into how businesses can stave off this decline and even achieve rebirth, for example:

• Understanding Brand Mortality: All brands, regardless of their strength or market dominance, face a decline phase. This realisation should be a staple in every brand manager’s toolkit.
• Factors Leading to Decline: Common causes for brand decline include competition, changing market dynamics, lack of innovation, and negative public perception.
• The Importance of Relevance: Maintaining brand relevance is crucial. Brands must adapt to market changes and continuously engage with their audience.
• Brand Resuscitation Strategies: There are ways to rejuvenate a declining brand, such as innovation, market diversification, and rebranding efforts.

“A brand is always most potent when it stands for one thing in the customer’s mind.” – Brand Momentum

Four Action Points for Brand Managers and Marketing Managers:

1. Monitor Market Trends: Stay updated with market changes and competitor movements. Innovation should be a continuous process.
2. Invest in Brand Health: Regularly assess and invest in your brand’s image and customer experience.
3. Engage with Consumers: Understand consumer perceptions and engage with them to build a positive brand image.
4. Diversify Wisely: While entering new markets can help, ensure that it aligns with your brand's core identity to avoid diluting its distinctiveness.

Understanding the Decline Phase

The decline phase is not only inevitable but also essential for understanding brand growth. Over 99% of brands have disappeared from the market, reflecting a natural progression. I write in Brand Momentum about the fact that most brands align closely with a specific product or market. Indeed, many brands not only represent but become synonymous with the category. When that category starts to fade, the associated brands often do too. This strong association can be a double-edged sword; it brings identity but also risk.
“It’s impossible to properly understand brand growth without fully understanding decline.” – Brand Momentum

Conclusion

Understanding the mortality of a brand is not just about accepting decline but preparing for it. Brand Momentum provides a roadmap for recognising the signs of brand decline and implementing strategies to counteract it. By embracing change, nurturing innovation, and staying true to their core values, brands can navigate their lifecycle effectively, possibly even finding new life beyond decline. As Brand Momentum points out, it’s about maintaining momentum and making strategic choices that ensure longevity in a competitive market landscape.

Put Brand Momentum to Work

To find out more, get your copy of Brand Momentum, the groundbreaking book that’s packed with cutting-edge research, innovative strategies, and the psychology behind momentum theory. This is the playbook every marketer and business leader needs in their arsenal to understand how brands truly grow.

To put Brand Momentum to Work in your business, reach out to the experts at Vision One. Our qualitative and quantitative research expertise has helped hundreds of organisations make better decisions and track marketing performance.

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