Ok, ok I know, I have featured Starbucks before. Well guess what? I am featuring them again. The brand announced this week its first dividend. A year ago people were writing off the international coffee giant as just another brand who got too big for its britches. Starbucks downsized a bit and got back to its core values and what made the brand successful in the beginning. It found its voice again.
I am notorious for quoting Chairman, Howard Schultz. "Managing a brand is a lifetime of work." Because he and the brand think that way they were able to weather the economic storm and come out strong on the other side. If more brands embrace the concept of brand building being a lifetime process, they would too. Hello, that is the way to recruit and retain brand champions!
Despite economic challenges most brands still think the way to build a sustainable brand is to go with the quick-fix solution. Wrong! When we build our brands based on mission, core values and stakeholder engagement, and understand that managing our brands is indeed a forever process, our brands are much more likely to be sustainable.
Starbucks, you are once again the Brand Champion of the Day!