This is a real picture from the worlds tallest structure in Dubai. Yes, it is an amazing photo but lets talk about brands.
Dubai is a major global business centre filled with thousands upon thousands of buildings, but on a day when the cloud rolls in only about 20 remain to be seen from the top.
Now think of the clouds as our current recession, as the most difficult economic times the world has seen since the 1970's. As this recession rolls in, the companies that have failed over the past 30 years to build a strong brand, stand out and create a loyal customer base or community will disappear below the cloud.
I have a set of brands that regardless of economic situation I will refuse to change. I will make sacrifices in other areas of my life to ensure that I can afford to purchase these few brands as I have come to rely on them, love them, trust them and they are a part of my life (John Fluevog shoes, L'oreal Men Expert lotions and shaving cream, BEDO sweaters, Tiffany's presents for Brit, Titleist golf balls, Starbucks coffee, Old Spice Deodorant, Burberry Cologne, and a few others.). All other decisions become based on cost, not a single brand consideration will cross my mind.
This doesn't mean that the brands below the clouds cannot break through and thrive in this economic environment but to do so they have a much more difficult journey ahead. They have a large investment and a lot of work to do to build their brand. This is not a time where I would want to be building a brand, but if they do not find a way there is a chance that once the cloud rolls away they will no longer exist.
The companies that are already above the clouds only need to maintain their brand and community of devoted followers. They are already have a skyscraper, they only need to keep it standing, looking good, and keep the lights on. If they do this they should come out of this economic situation with fewer competitors, a stronger brand and a beautiful view of the dawn of better times.
Lets see who survives. Who do you think is below the clouds and in trouble? What skyscrapers exist in your brand horizon? Please comment below.
Photo originally found on Dean Hunts blog.