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Brand Matters
Everyone knows the role of a brand - or
do they? Understanding the role brand plays will go a long way toward
determining how to develop and market one. But, first we need to look at
what a "brand" really is.
A brand is an identifiable product or service, strengthened in its
market
because buyers or users see relevant, unique added values that closely
match their needs. Brands endure if these added values are sustained in
the face of competition.
This definition not only makes reference to the relationship between the
purchaser, their needs and perceived relevance, but also captures the
potential impact of competition. These are the key concepts that must be
kept in mind when marketing or sustaining a brand.
How does branding provide competitive advantage?
Strong branding manifests itself in the development of "committed
consumers" - buyers that are dedicated to a particular brand and
consistently make it the one of choice.
Committed consumers choose the brands they do because of their
perceptions about those brands. They are single minded - satisfied, and
disinterested in alternatives - and this has a direct impact on
advertising. Why? Because consumers' strong commitment to a brand
depresses the likelihood that competitive advertising will be seen. In
fact, the poorer the relationship between a consumer and a brand, the
less likely it is that advertising, when seen, will receive a positive
response.
These factors have a particularly strong impact on new product launches.
When commitment to existing brands is high, a new product, no matter how
good it is, has to work incredibly hard just to be noticed, not to
mention gain market share.
A strong brand can actually help to protect a company in times of
economic stress - not just any brand, but one driven by a powerful idea,
one that resonates with the public. With such a brand a business is more
likely to remain airborne even in the harshest storm.
Branding is also an important step in bringing your business strategy to
life. It gives your organization a face and personality to which
customers can relate. And, regardless of the size of the business, it
forms a first – and usually lasting – impression.
Though an effective visual identity is an important element in forming
that impression, what the brand delivers and how it delivers it, the
benefits it offers customers and the values it stands for are really the
bases for customer buying decisions. In building your strategic plan,
you’ve assessed the competitive environment and you’ve looked ahead
to anticipate changing market trends. You’ve also completed the
necessary research to understand what your current and prospective
customers are looking for and what will make them buy. Now, you need to
ensure that the branding of your product or service delivers the right
messages to do just that.
Some key points to remember when building a brand that supports the
business strategy:
Positioning:
Brand positioning establishes a place for your business in the minds of
your customers. In the strategic planning process you identified where
you wanted your brand to be, so every message associated with your brand
must consistently place it there. Example: you may be the best quality
supplier, the best-priced supplier, the supplier with the widest
selection, the most know-how, best overall value in class, etc.
Value Proposition:
You know what your customers value through the research that laid the
foundation for your strategic plan. Now ensure your brand communicates
those values (example: quality, safety, innovation, etc.) in clear,
consistent terms.
Benefits:
What’s in it for me? Your customers want to know, and your brand had
better tell them, right up front. Use your market intelligence to the
fullest in developing benefit statements that make choosing your
business a ‘no-brainer’.
Personality:
Knowing your customer means knowing their personality and designing
brand messages to suit. A young hip customer looks for a young hip
product – senior business people are less likely to appreciate neon
green. Sounds obvious, doesn’t it? Yet you’d be surprised.
Branding is not about a new logo and a new slogan, no matter how catchy.
It’s really about taking your business, your product or your service
to its full potential…and that takes much more.
When you think about branding, consider some fundamental questions that
may seem too simplistic to be of value. For example,
What is our mission in life?
What do we want to tell people?
How can we make sure they 'get it'?
How can we be sure that what we have to offer is really unique?
Then consider your answer for each question. First off, do you have one?
And if so, how does it rate in terms of
the "what’s-in-it-for-me...the customer?" factor.
Is it unique?
How can you make it more so?
Do your customers know?
How do you know?
Too many questions? Not enough answers?
You’re not alone. In today’s
fast-paced, competitive climate, many businesses are having identity
crises. We don’t know who we are, and our customers’ haven’t a
clue about us either. We’re trying so hard to please everyone that we
may not be pleasing anyone very much. Worse, we may not even have
realized it until now.
This is it - this is where the rubber hits the road. It’s time for
your business to “find itself” so your customers can find you, too.
Look at your branding and complete a quick exercise with your core
management team:
Who are we? - Answer first in 1 page, then in 25 words.
Who are they? (competitors)? - Answer in 25 words.
List three ways in which your brand is unique--really unique--to your
customers.
What is the difference between “us” and “them”? - List 3
distinct differences.
What did you learn? Like many, you’ve probably realized that the past
decade ’s relentless focus on “best practices” has resulted in
less and less opportunity to be unique to customers. So,
Compare your answers with those of your team, then refine them.
Now try your answers on a friendly Customer. - Do they agree? Disagree?
How would they add to or change your answers?
Next, refine the definition of your brand and take the plunge…
Try the new answers on a skeptical customer! Would they do business with
you? Why? Why not?
Now you’re ready to redefine your brand, develop the value proposition
you have for your customers and decide how to effectively communicate
it. You want to hook them--philosophically, emotionally, whatever it
takes to make customers make you their own.
Be unique. Be competitive. Build a brand that carves a new place in the
market for the future of your business
Of course branding does not stop with the creation of a brand. People
must recognize it and want to buy your product on the basis of the
brand.
Creating demand for a brand depends on one thing: commitment from
customers. The kind of commitment that makes them look for it, ask for
it, recommend it — even refuse alternatives. But if you've got Coke
and Nike dreams on a mid-market budget, can you really build that kind
of commitment to your brand? Absolutely.
It starts with clearly defining the uniqueness of your brand and the
benefits it delivers because at the end of the day, there's really only
one way to build a brand: by understanding and being relevant to your
customers' needs. After all, if you don't know why customers should
choose your brand above your competition, how (and why) should they?
Though branding is far too complex to explore in brief, here are a few
essentials to ensure the process begins on the right foot:
1. Getting to KNOW You
Create opportunities for customers and prospects to interact with your
organization so they can 'touch and feel' the brand. Here the Internet
reigns as one of the least expensive and most effective media available
because it allows customers to do just that. A website designed to be an
active part of the selling process, not an online brochure, is critical.
It should provide site visitors with information and tools. It should
demonstrate uniqueness and offer value. It should invite enquiry, offer
free access to expertise, product samples, service options, survey
participation, online purchasing and more.
Once you've established that dialogue, be sure to continue. Shift
between online and offline but maintain consistent messages at every
touch point your business has with its customers and the marketplace.
2. That's BRAND — Not Bland!
Too often only the most neutral, politically correct messages and
campaigns reach the market, creating a seemingly endless string of
"me too" and "been there — done that". Don't be
afraid to adopt a little attitude. Successful brands stand out and make
bold statements about who and what they are.
Branding is about creating a strong brand personality that is easily
identified, memorable, and recognizable. Ensure your brand and its
messages engage your audience, create conversation and provoke thought
about doing something differently and/or trying something new. Attitude
is the difference between bland and BRAND — give yours a clear
identity and personality then let it strut its stuff!
3. Taking it to the Street
When it comes to delivering brand promises, the buck stops with your
front line staff. Take as much care in how you craft the messages you
send to them as you do with those sent to the marketplace. Consistency,
leadership and commitment are prerequisites for gaining employee buy-in.
Don't create confusion by introducing too many initiatives at once —
you're looking for attitude from your brand, not your people.
Introducing too much at once can create confusion about what employees
and management need to do to bring the brand to life. There's also the
risk of becoming corporate "white noise" and being ignored.
Ensure employees understand the branding initiative by communicating why
it's important, how it will benefit them and what they need to do to
make it a success
In summary, a brand reflects and projects the personality of your
business and the characteristics of your product. Its an encapsulation,
a picture, of why a customer should do business with you. Though most
important in a market that's cluttered with competition, people have
come to expect one from almost every business. So make sure you do it
right.
© 2005 5th Business Management Practice Inc.
www.5th Business.com
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