OK, so you know just enough about marketing to be dangerous, but you don’t have the time to develop more advanced marketing skills. But all hope is not lost. If you have limited resources (who doesn’t) and only have time to concentrate on one facet of marketing, then make it your brand development.
By now you’re probably asking, what is a brand anyway and why is it so important. While there are a lot of definitions for what a brand is, to keep it simple, a Brand is a Promise. It is a promise that conveys multiple meanings to the end-user. While there are volumes of definitions as to what a brand is, at a high level (and for the sake of brevity) the main attributes of a brand include:
• Consistent quality
• Trust
• It solves a need
• It connects with the end-user
A few examples:
Consistent Quality
McDonalds, Coca Cola – A Big Mac or a Coke is the same no matter what continent you are on.
Trust
Disney – You know that they always provide good and wholesome entertainment.
Apple – The interface to the technology will always be easy and intuitive to use.
Solves a Need
Mercedes Benz, BMW – If you’re thinking the need is transportation, think again. The need they solve is status. Transportation can be bought less expensively.
Connects
Nike, Under Armour – If you are an athlete is there any doubt that these brands have developed a connection. It is so strong that they use only their logos and no words to communicate their brand. Is there anyone on the planet that does not know the Nike swoosh?
Alright you say, I get this. But what are the benefits of developing a brand? There are many so I will just hit a few highlights.
• Facilitates a higher price, as there is a perceived higher value.
• Generates repeat business. Ever heard the term “brand loyal?”
• Makes new products accepted at a faster rate, thus stimulating growth.
• Makes it more difficult for competitors to steal your market share.
Now that you know why you should develop your brand, you’re probably asking how to do it. Well, if you have to ask that question (and most people do), the answer lies in a keen understanding of the marketing basics. And those basics cannot be taught in a blog or article so the best way to do it is to seek the help of an expert.
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