Companies lose millions!

The value of brands, in millions and billions of rand, is well known and established. The power of a strong brand has been proven to increase company book value, build goodwill, secure company stability and strengthen staff morale, motivation and loyalty. And yet, besides undeniable proof of the importance of brands, company management is repeatedly lulled into a false sense of security and fails to ensure that their brands evolve with the times.

Companies often assume that if it isn't broken, then they need not fix it and only wake up to the reality that brands need to change over time, at the last minute. And in a few cases, they leave it too late. Either way, the costs are frightening in both financial and general resource terms.

Management talks about the power of word of mouth and its economic value and yet they fail to realize that the key to this communication medium lies within their own organizations. Too much time and money is spent by the marketing departments on advertising and launching products, new initiatives... without first educating, informing and mobilizing the support of their own employees.

Companies are now starting to wake up to the potential of these internal sales forces and the importance of engaging their support. Sadly, senior management has still a way to go and has much to thank their marketing and communication departments for. They must take heed of the old Chinese proverb - "If you don't plan for the future, you will get the one that shows up".