The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Blessing and Curse of Brand Recognition
The greater your brand is recognized, the greater the burden on your company to provide an exceptional product or an exceptional service. Months and possibly even years have been spent preparing, investing, advertising, and marketing a product, until it was produced and set forth into the wild. A few orders came the first year, followed by an increase in the number of orders with each year the followed with more employees being hired to keep up with the demand, until finally, the product became recognized by the public and even beat out the competition in brand recognition or brand awareness. Your dreams have finally come true and you find yourself exceptionally and happily busy with fulfilling orders.
When it comes to your product, it is the best. It is what customers want and need and the one they trust most. Brand recognition is what you have been after ever since you started. No longer do you have to explain what your product is or what it does because it is in the wild and many people have heard about it. Brand recognition means that you have a following of loyal customers who keep coming back and buying more products. They rely on your product or service and your company delivers. Brand recognition is what most companies, especially startups seek. It keeps investors interested, the bank happy, and providing a feeling of success to the founders. The more brand recognition you have, the more product you sell, and the more money you make.
Unfortunately, brand recognition is both a blessing and a curse for those who are not prepared for it. Brand recognition can happen overnight and be a nightmare, especially when demand is not met. When demand is not met and orders cannot be fulfilled, the company may suffer and lose potential customers. Hiring new employees is not a possibility to deal with because of the demand, and the risk involves more mistakes that the company cannot afford to make. It is as if a company has hit the lottery overnight and publicity pours in, and no security guards are present to keep the backlash under control. What is a company to do about brand recognition?
The potential is always there and it is the dream of any startup or booming company to become one of fame, fortune, and brand recognition. Actually dealing with it is another story as it should be treated as a positive experience. When a company makes a plan and outlines dealing with the increase in transactions and publicity that comes from the product, they are able to resolve issues quickly for brand recognition.