Recognizing the value of “Location! Location! Location!” allows you to create a unique space within a competitive environment while recognizing that the dynamics within that competitive environment are forever changing, so that your competition within a specific time frame (week, month, year, etc.) is unlikely to remain the same in the future. 

It consists of differentiating yourself in ways that are valuable to your specific audience as well as making it extremely difficult for your competition to replicate. It’s not about trying to make yourself everything to everybody but rather understanding that by developing a multifaceted identity, you will resonate differently with different portions of your audience.

Your brand extends way beyond your logo, tagline, hashtags on social media or catchy jingle. Your brand is the emotional and psychological relationship and the rapport that you establish with your audience.

Consider automobile sales which advertise freedom, safety, reliability, exploration, travel, etc. which is far more than just a vehicle with the capacity to move you from point A to point B. 

Customer lifetime value focuses on intangible elements, for example establishing and maintaining long term relationships in contrast to predominantly focusing on the sale of products or services even when they are consumable and in need of renewal periodically (resales).

Whatever level of brand mastery you have successfully acquired over time, the need to be able to navigate and mitigate controversies, conflicts and crises will arise which can provide opportunities for you to innovate, reimagine, reinvent and otherwise strengthen your brand. 

When conflict is reframed as an “opportunity for change” with identifiable sources of power  and the knowledge of how to apply them rather than viewing conflict as an adversarial confrontation having a winner and a loser, conflict can serve as an example of how-to strengthen a brand not erode it.

Your brand is much more than a construct, it is actually an ongoing conversation and engaging dialogue with your audience which demonstrates the authenticity of your brand and your goodwill toward others. 

Whether your brand is a startup endeavor or a heritage brand, the same principles apply: it is a living, breathing entity that thrives on consistency while it continues to evolve. Your brand is based upon narratives that are co-authored with your audience which results in an undeniable emotional connection.

Dr. Mary Ann Markey