That once powerful brand Goldman Sachs may have its best days behind it, observes David Weidner in THE WALL STREET JOURNAL.
That brand has been about making money, lots of it. Both its clients and investors loved that ability. Now Goldman Sachs is vulnerable to competitors who are giving off more of what David W. Langston, Senior Partner in Evoke Communications calls "brand heat."
In essence, explains Langston, "brand heat" is the metabolism of an organization or individual player. When it's set at exactly the right temperature, there's a pull force. Current examples range from Apple to Nordstrom.
Goldman Sachs can rebrand itself, that is, re-set its internal metabolism. That used to be called the art of the comeback. IBM navigated that process back in the early 1990s. A time of less volatility, IBM was atypical in having declined so much that its competition, ranging from Microsoft to Apple, could have made such inroads on its territory. Now, of course, the process of readjusting the brand heat is the new normal.
The trick is to be able to stop. Then build outward from the inside. Challenged organizations tend, observes Langston, to "continue to race from crisis to crisis." Likewise, challenged professionals tend to leap into frantic activity. Consequently both give off overheated brand messaging. Constituencies flee.
Here you can calmly reflect on the next step for your brand, organizational or personal. Langston can be reached at dlangston@evokecomm.com.