A big ego can be a good thing in some situations….

It can give you the confidence to take risks and succeed.

But when it comes to running a company, a big ego can be a huge liability.

Here are some of the ways ego can hurt your company:

• Lead to poor decision-making. When executives are more concerned about their own reputation than the success of the company, they are more likely to make decisions based on emotion than logic. This can result in bad investments, missed opportunities and even financial ruin.
• Creating a toxic work environment. When executives constantly put themselves first, they can create a hostile and stressful work environment for their employees. This can lead to high turnover, low morale and decreased productivity.
• Damage the company’s reputation. When managers are seen as arrogant or self-serving, it can damage the company’s reputation with customers, investors and the general public. This can make it difficult for the company to attract new business and raise capital.

Here are some examples of how management ego has hurt companies:

• In 2008, Lehman Brothers CEO Richard Fuld refused to sell the company even when it was clearly in trouble. Fuld was so convinced of his brilliance that he believed he could turn the company around. But his ego led him to make a series of bad decisions that ultimately led to the collapse of Lehman Brothers.
• In 2016, Uber CEO Travis Kalanick was forced to resign after a series of scandals. Kalanick was known for his aggressive and demanding management style. He created a toxic work environment where employees were afraid to speak up. This eventually led to a revolt by Uber employees and investors.
• In 2018, Tesla CEO Elon Musk was forced to resign as chairman of the company. Musk had a history of making controversial statements and engaging in erratic behavior. This ultimately led to a shareholder revolt and a settlement with the Securities and Exchange Commission.

These are just a few examples of how executive ego can hurt companies.

If you are a manager, you must be aware of the dangers of ego and take steps to keep it under control. Otherwise, you may jeopardize your company.

Here are some tips to keep the ego at bay:

• Be humble. Remember that you are not the only person who matters. There are other people just as smart and talented as you.
• Be receptive. Don’t be afraid to listen to what others say, even if you don’t agree with them.
• He’s willing to admit you’re wrong. It’s okay to make mistakes. The important thing is to learn from them.
• You are willing to give credit where credit is due. Don’t take all the credit for success. Share the credit with your team.

If you follow these tips, you will be able to control your ego and contribute to the success of your company.

Brand equity for a business is the effect on revenue beyond the product.

It is based on name, reputation, and image. Strong brand equity can help a company to:

• Attract new customers
• Increase customer loyalty
• Get a higher price
• Expanding into new markets
• Reducing marketing costs

How does brand management benefit companies?

Brand management is the process of creating and maintaining strong brand equity.

It involves developing a clear brand identity, positioning the brand in the marketplace and communicating the brand’s value to customers.

Brand management can benefit companies in a number of ways, including:

• Increased sales: A strong brand can help a company attract new customers and increase sales.
• Increased profits: A strong brand can help a company obtain a premium price for its products or services.
• Cost reduction: A strong brand can help a company reduce marketing costs, as customers are more likely to buy from a well-known and trusted brand.
• Increased market share: A strong brand can help a company increase its market share.
• Improved employee morale: Employees are more likely to feel proud to work for a company with a strong brand.

Five real values of brand equity in global companies

In today’s global marketplace, brand equity is more important than ever. A strong brand can help a company to:

1. To attract new customers. In a world where there are more choices than ever, consumers are more likely to choose a brand they are familiar with and trust. A strong brand can help a company stand out from the competition and attract new customers.
2. Increase customer loyalty. A strong brand can help a company build customer loyalty. Loyal customers are more likely to buy products and services from a company again, even if lower-priced alternatives are available.
3. Get a higher price. A strong brand can help a company command a premium price for its products and services. Consumers are often willing to pay more for products and services from brands they trust and value.
4. Expand to new markets. A strong brand can help a company expand into new markets. When a company enters a new market, it is often at a disadvantage against established brands. However, a strong brand can help a company overcome this disadvantage and gain market share.
5. Reduce marketing costs. A strong brand can help a company reduce marketing costs. When a company has a strong brand, it is often easier to reach new customers and generate sales. This is because consumers are already familiar with and trust the brand.

Conclusion

Brand equity is a valuable asset for any company.

It can help a company attract new customers, increase sales, reduce costs and expand into new markets.

If you want to grow your business, it is important to invest in brand management.

Delivering a memorable customer experience is essential to the success of any business.

And one of the key factors in achieving this is having an excellent team. When you work with a committed and skilled team, you can provide exceptional customer service that not only meets expectations, but exceeds them.

In this article, we will explore why it is essential to deliver a memorable customer experience through an unsurpassed team.

1. Improves customer satisfaction

A remarkable team can improve customer satisfaction by providing faster, more efficient service. When customers receive fast and efficient service, they feel valued and satisfied with their experience. In addition, a responsive team can handle difficult situations more effectively, which also improves customer satisfaction.

2. Increases customer loyalty

When customers receive exceptional service, they are more likely to return and recommend the company to others. A great team can create a memorable customer experience, which can increase customer loyalty and generate repeat sales. Customers who return and recommend the company are extremely valuable to the long-term success of the company.

3. Strengthens the company’s reputation

A company’s reputation is essential to its success. An excellent staff can enhance a company’s reputation by providing exceptional customer service. Satisfied customers are more likely to speak well of the company and recommend it to others, which can attract new customers. In addition, a strong reputation can help the company overcome difficult times, such as public relations crises or bad online reviews.

4. Increases productivity

A great team not only improves the customer experience, but also increases the company’s productivity. When employees are empowered and engaged, they are more efficient and effective at their jobs. In addition, a well-coordinated team can work together more effectively, which improves overall business efficiency.

5. Improves the work environment

When employees are engaged and empowered, they enjoy their work more and are more motivated. An excellent work team can create a positive work environment that improves employee well-being. This, in turn, can improve employee retention and reduce training and hiring costs.

How to build an excellent working team

Building a team is essential to delivering a memorable customer experience.

A well-coordinated and committed team can improve efficiency, productivity, and customer satisfaction.

Here are some steps to build an excellent work team:

Hire the right people: Hiring people with the appropriate skills and attitudes is the first step in building an unbeatable team. Candidates should be interviewed carefully and practical tests should be conducted to assess their skills. In addition, it is important to consider the candidates’ attitudes, such as their ability to work as part of a team, their commitment, and their ability to adapt to changing situations.

2. Set clear goals: It is important to set clear goals for the team and communicate them clearly to all members. Goals should be specific, measurable, achievable, relevant and time-bound so that team members know exactly what is expected of them.

3. Encourage collaboration: Collaboration is essential to building an excellent work team. Team members should be encouraged to work together, share ideas and solve problems together. Effective communication is key to fostering collaboration and should be promoted at all times.

4. Train employees: Employees should be trained in technical skills and interpersonal skills. Training may include teaching communication skills, conflict resolution, time management and decision-making. In addition, it is important that training be tailored to the specific needs of the work team.

5. Recognize and reward: It is important to recognize and reward a job well done. Team members should feel valued and appreciated for their contribution to the team. Rewards can include bonuses, paid time off, professional development opportunities and public recognition.

6. Provide feedback: Feedback is essential to improving the performance of the work team. Team members should receive regular feedback on their performance and have the opportunity to provide comments on overall team performance. Feedback should be constructive and offer suggestions for improving performance.

7. Encourage continuous learning: Continuous learning is essential to keep team members motivated and engaged. Professional development opportunities, such as training courses, workshops and conferences, should be offered. In addition, team discussions on the latest trends and developments in the industry should be encouraged.

In short, building an excellent team is essential to providing a memorable customer experience.

To achieve this, it is important to hire the right people, set clear goals, foster collaboration, train employees, recognize and reward, provide feedback and encourage continuous learning.

By following these steps, you can build a committed and coordinated team that meets and exceeds your company’s goals.

Small and medium-sized enterprises (SMEs), which are generally local companies, have a greater challenge in establishing successful brands in the market.

Unlike large corporations, local or medium-sized companies have limited resources, making it difficult for them to compete with established brands.

In this article, we will explore why small and medium-sized businesses struggle to establish a strong brand, and offer practical solutions to help them overcome these challenges.

Lack of resources

One of the main reasons SMBs struggle to establish a strong brand is lack of resources. Larger companies have marketing budgets that allow them to spend large amounts of money on advertising, public relations and branding strategies. On the other hand, SMEs have more limited budgets and must be creative in how they spend their marketing dollars.

The solution to this problem is creativity. SMBs can use social media, email marketing and public relations to promote their brands. They can also use digital marketing tools such as SEO (search engine optimization) and online advertising to reach their target audience without spending too much money.

2. Lack of brand recognition

Another problem SMEs face when establishing a brand is the lack of brand recognition. Large corporations already have an established presence in the market and have built brands that are recognized by consumers. On the other hand, SMEs are relatively new to the market and need to build their brand from scratch.

Solution: The solution to this problem is to establish a solid online presence. SMEs can create a professional website and social media presence to increase their online visibility. They can also collaborate with relevant influencers and bloggers in their industry to reach their target audience and increase their brand recognition.

3. Competition with established brands

SMEs also face competition from brands already established in the market. Large corporations have an advantage over SMEs because they already have an established customer base and market presence. SMEs need to work hard to compete with these established brands.

Solution: The solution to this problem is differentiation. SMEs must find a unique way to position themselves in the market and differentiate themselves from the competition. They can do this by offering unique products or services, focusing on a specific niche or promoting their personalized approach and customer service. They can also consider strategic collaborations with other brands or associations to increase their visibility and credibility.

In conclusion, establishing a strong and successful brand is a constant challenge for SMEs. However, with creativity, strong online presence, differentiation and strategic collaborations, SMEs can overcome these challenges and establish successful brands in the marketplace.

There is a false belief, very widespread in business, regarding marketing and advertising: images, texts and logos, advertisements, are the most important ways for a company to position itself in the market.

It’s not quite like that.

Communication is one of the essential factors, a complement in the business process. But it is not the only one.

From my standpoint, a good marketing system produces interest, motivates and reinforces the image of a brand. However, it does not, by itself, sustain it over time.

A brand that does not deliver on its promises cannot possibly have long-term business viability.

And those promises are to deliver the promised service or functionality. Preferably, exceeding customer expectations.

The ideal is to create companies from the inside out.

This means, conceptually, defining how the company will serve its customers; what will be its value proposition that differentiates it in its market, what will be the key activities and resources that will bring its products or services to life.

Perceived quality is the main factor in the generation of successful brands.

And I ask the reader to remember a brand of his or her preference. Is the logo of that brand essential, I don’t think so.

The essence of a brand lies in satisfying the expectations, needs and desires of its customers.

I love Apple products, their technological soundness, their solid software systems, their design and finishes. And every time I look at the Apple logo, their advertising or commercials, I am reminded that they have always exceeded my expectations.

This is the key to great brands.

Therefore, my recommendation is, first, to focus on how to produce high quality services or products. So that the public perceives them as special, unique and highly satisfactory.

In a Branding Plan, one of the first sections calls for:

“List three ways your company will generate perceived quality.”

If we were Apple, what could we list… let’s speculate:

1. To design unique items that extend human capabilities.
2. Manufacture durable, solid products.
3. Facilitate its use through user-friendly and secure software.

It could be, or at least, what I feel and think about the Apple brand.

The second part of the branding formula is marketing and communication.

Now, the advantage of having done a conceptual planning work first, such as a Business Plan or Model, or a Branding System, is that, having defined the characteristics of the product or service, the development of a brand and its communication system will be greatly facilitated.

An infinite number of resources can be used in words, graphics and images. The offer is unlimited.

But implementing a value-added messaging system requires detailed analysis, creative work and the ability to write messages that are special and not trite.

Often, when a brand exaggerates in its communication, it achieves detrimental results; people notice this and, by not buying or recommending the brand, reject the exaggeration.

Years ago, I read a recommendation, “Under-promise and over-deliver.”

The most important portion of brands resides in people’s hearts and minds.

The logo or your ads will trigger the memory of your consumer experience.

If the experience was bad, neither the prettiest logo nor the most fantastic promise can do anything against mediocre products or services.

The largest component of brands is generated within companies, in their production, service and delivery processes.

It is common sense.

Recently, I had the opportunity to work for a client in Germany, who had a project for an industry software services company.

An engineer, very kind and considerate, with a well-defined idea regarding the name of his brand, and certain values that the identity should reflect.

Although at the time I asked him for more strategic information fundamental to designing the identity, he had nothing else.

It lacked the vital support that generates great brands; vision, mission, brand statement, brand personality, differential, business and marketing objectives, among others.

A few conceptual references.

Moreover, when we told him that he didn’t have a slogan to integrate into the logo either, he simply gave us the German phrase “product software”. A complete generic!

On the other hand, his idea was that the result of the brand would be powerful and distinctive.

How is it possible to create something unique without sufficient information?

The great challenge of creating a super brand without previous analysis and definitions runs the risk of designing something aesthetically attractive, but meaningless.

Nice, but empty.

Y es que es necesario reconocer que las grandes marcas que conocemos se crearon de adentro hacia afuera.And it is necessary to recognize that the great brands we know were created from the inside out.

It is true that maturing little by little. By strengthening its foundations.

Because brands, in contrast to popular belief, are a cause, not a result.

This means that what a customer perceives is the sum of the company’s behaviors:

• Quality of its products or services
• Punctuality of your service
• Accuracy of your information
• Friendliness of the staff
• Efficient operations
• Price
• User experience
• Etc.

And it is then that from the innumerable expressions of a company they are concentrated, identified, in a logo.

That is the function of brand identity: to generate meanings in people.

And every touch point, every action, has the ability to strengthen or weaken the brand.

When positive perceptions of brands/companies increase, opinion of them also increases, trust is higher, and reputation is higher as a result.

That is the reason why, when designing a logo, it does not represent much by itself.

A logo is a promise, it may be, but the deeper meaning, full of business symbolism, will ultimately be generated in what your customers and the general public feel and think.

A brand is the place where what people feel and think about something or someone is concentrated.

Process

The best method of brand development should be derived, in my experience, from two tools: the Business Model and the Branding Plan.

The Model defines the 9 business areas:

• Value proposition (the central part)
• Customer relationship
• Channels
• Consumer profiles
• Revenue sources
• Key resources
• Key activities
• Key partnerships
• Costs

Brand plan:

• Business and marketing objectives:
• Offer
• Diferential
• Positioning
• Mission, vision, values
• Brand statement
• Personality
• Reasons to believe
• Key messages
• Audiences
• and others…

The above information will be central to two essential tasks in driving a brand:

• Integrate and cohesive work teams focused on results.
• Design the brand and its communications system.

Now:

1. Who guides the branding process: a business and branding consultant.
2. Who designs the identity: a graphic designer.
3. Who manages the communications plan: a marketer/communicator.

Thnk you.