A good brand creates a certain allure for a business — consumers simply want the product because of its brand. Exemplars of this are Kleenex (for its quality), Rolls Royce (for its luxury), and Harvard (for its prestige). Building a useful, titillating, and valuable brand produces a cachet. Prospective customers will find you, hear about your brand, and value your offerings based on perception. The value of a brand enables the business to differentiate itself from the competition.
Competitive pressures challenge regional and national businesses. However, one way to thwart competition is with a strong brand. If you do not have one, it is time to build it. If you do have one, yet are unsure of its value, test it. And if you have one big sales lag, it is best to reinvent it.
Brand development, or reinvention, begins with your description of customer wants and needs. An imperative question to ask is, '' What does this firm do to serve our clients?'' If you don’t know, you’d better find out ! A client of mine owns two UPS store franchises. While it would seem simple enough, the owner did not appeal to buyer needs and subsequently lost business. With intervention from me, we discovered that the client missed a major community demographic of entrepreneurs seeking essential office services — i.e., copying, mailing, faxing, and brochure development. Redeveloping the brand to an '' Entrepreneur Virtual Assistant'' provided a twenty-two percent increase in annual revenue.
The best tools for brand building are to:
- Survey your clients
- Interview several clients and seek trends
- Fulfill a market need that is congruent with your particular business
- Define the techniques used to help build the brand
Finally, branding cannot succeed on its own — it is pertinent to market the brand through advertising, promotions, public relations, and websites. Not only should you pull consumers to you, but they should feel compelled to visit by hearing about you through numerous sources.
With so many marketing distractions, you must build a brand that differentiates, that adds value, and that fulfills a need. With a strong brand, your business will be built on a solid foundation.
About the Author
Drew Stevens, Ph.D., is known as the Sales Strategist. Dr. Drew creates more revenues in less time. He is the author of seven books, including Split Second Selling and Split Second Customer Service, and is frequently called on by the media for his expertise. Sign up for Dr. Drew’s newsletter, The Sales Strategist, at
drew3-143901@autocontactor.com and visit Dr. Drew’s blog at http://drewjstevens.blogspot.com.
