Brand Flip-Flop
Kryptonite made a fatal mistake which may now cost them their brand, as I talked about in the previous post. They have spent years building their brand. A brand which represented the most secure, solid, and uncomparable bike locks on the market. They invested not only years but millions of dollars making sure that this brand was the standard in the largest, most theive ridden markets on earth.
Last week you witnessed, in one fell swoop, what Norberg and I call “reverse viral marketing”. In this case it will lead to almost complete brand destruction. It’s the worst kind of marketing that can happen to your business or product. By overlooking the most simple part of their product, the actual lock itself, Kryptonite has given way to all of its competitors to happily eat up its market share.
As customers gain word through blogs, news media, and most importantly, peer-to-peer through their friends; they will no longer walk into bike shops and see Kryptonite as protecting their valued investment. They will instead favor the locks of their competitors. A sad day for Kryptonite, and a hard lesson learned. Do you pay close enough attention to every facet of your product or service? How important are these details to your brand? Remember: details and design do matter, don’t cut corners, it will save a major headache down the road.
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