In this Didn’t See It Coming podcast, host Ian Jessop and I discuss how respected brands die.
In actual fact, there are several well-documented hallmarks of brand decay: the shift from radical to incremental innovation, the inability to grasp the company’s true ‘why’, reluctant partnerships without a vision for what they’ll bring. The list goes on.
What’s fascinating about the subject is that these brands are stewarded by smart people. People who can see the demise coming. But like Easter Islanders chopping down the last trees on their island, they consciously seal their fate nonetheless.
Is there a way to avoid brand decay and death? Yes, but it often isn’t what executives want to hear.
That’s because it involves returning to your core why, and jettisoning elements of your business that don’t align with it – a difficult job when thousands of people are depending on these non-aligned divisions for their livelihood.