Category Archives: stimulating brands

January 2, 2021 · 12:14 pm

The Top 10 Most Read Articles in this Blog for 2020

Top 10 Articles of 2017 - Training Industry

To begin the new year, I have once again rounded up the ten most read/popular articles — this time for  2020. The following ten captured the most attention by numbers and from 152 countries in all. See them all below! 

Your views are always encouraged including subject matter you think I should be covering more of.

THANK YOU for your readership and I look forward to feeding your mind with additional practical business food for thought this year which can be applied for timely results.

1] Start-up Essentials: A Universal Roadmap for Starting a Business — Infographic

2] The Luxury Brand Ranking and Consumer Accessibility Pyramid: What It Takes to Move Up

3] Why do Rolex Watches Retain Their Value? Quality, Savvy Marketing and Cache are the Core Motives

4] The Notorious Cruise Industry: A Glorified and Reckless Offshore Business

5] Sex and Sensuality in Advertising: Why it is effective and how to refine it

6] What Products and Services Must Do to Flourish: Increasing the Odds at Profiting in a Competitive Market

7] Exceeding the Hotel Guest Experience: Anticipating and Executing Desires Flawlessly

8] Enticing the Luxury Home Buyer Through a Holistic Marketing and Sales Approach

9] The Art of Selling Luxury Products: Brand Story Telling & Persuasion

10] The Ultra Luxury Purveyors: Lessons from brands catering to the wealthiest one percent

__________________________

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June 4, 2020 · 9:22 am

The Authentic Brand: A Precious Asset Developed Through Transparency, Customer Experience and Ultimately, Loyalty

By James D. Roumeliotis

We want transparency in your corporation, not your pants: Why 2013 ...

Trust is a hard thing to come by these days whether between people or between people and brands. When the founders of a start-up build a brand from the ground-up or the executives of an established one are in modus operandi mode, taking a cautious approach to their brand image, in both scenarios, ought to be part of growing and preserving the business with a constant eye on the future.

Sadly, nonsense, and plenty of it from ubiquitous brands, is probably the best noun to describe what consumers are offered by many companies selling their products and services to them. Whether it is advertising, package labeling or an overstated pitch by their sales staff, the information presented may be deliberately misleading. With some brands, it is the tiny print in disclosure statements which defeat what is promised in larger and bold advertising headings. The majority of consumers do not read small footnotes. Think of the worst offenders of this practice: the cellular phone/telecommunication providers, insurance companies, credit card providers, as well as the automobile manufacturer promotional offers and pharmaceutical advertisements – to name a few.

Deception concealed as sincerity: How to chip away at your brand

The key to a successful business growth, along with reputation, is truth in advertising, delivering on promises made, avoiding deceit – and marketing the brand, not the product. Contrary to popular belief, a brand is not a logo, label or product but rather a relationship with customers. It is a promise. Branding, when carefully executed, adds value to a company including brand equity. This is considered intangible brand value. By applying a short-term revenue and profit strategy at the expense of long-term negative consequences, a business’s brand reputation will ultimately lose its luster.

In the 2018 Harris Poll Reputation Quotient®, published the reputations of the 100 most visible companies among the U.S. general public. What appears on the top five, among other notable brands as consumers perceive them, are Wegmans Food Markets, Amazon, Samsung, Costco and Johnson & Johnson respectively.

Consumers have high and explicit expectations from brands, thus anticipate what the brand promises via its marketing material and/or what is stated on the product packaging. What a brand actually delivers and how it behaves in the process is what consumers get to feel.

A brand which utilizes short-term sales and marketing tactics for quick short-term gain fails financially in the long-term by acting in an ethical way. As marketing maven Seth Godin rightfully proclaims, “In virtually every industry, the most trusted brand is the most profitable.” As with our personal lives, trust with branding is based on what one does, not what one says.

Boosting sales and market share via misleading and deceptive tactics

According to a 2018 Harris Poll, regarding the most and least trusted industries, Banks represented 4 of the top 8 companies by trust rating this year, with Supermarkets adding in another two of the top 8. The remaining companies in the top 8 were in the Credit Cards and Insurance industry, such that Supermarkets and Financial Services companies took all of the top 8 spots.

By contrast, TV and Internet Service Providers occupied each of the bottom 4 positions in the rankings, and 7 of the bottom 11 overall.

The food processing domain is no more honest with labels that claim to be healthy but without support with any concrete scientific facts. Food companies tout their devious label claims of organic, nutritious etc. – although an absurd amount of sugar and/or sodium is present in the ingredients along with unnatural artificial ingredients). Kelloggs even went as far as having to be ordered, by the courts, to discontinue all Rice Krispies dubious advertising which claimed to boost a child’s immunity system.

Then there is the “premium” orange juice from popular brands such as Tropicana, Simply Orange and others which are highly processed, and usually stored for several months before reaching consumers at the supermarket fridge aisles. This processing method is used to retain the juice from spoiling. However, during that process, it also strips the flavour which is injected back into the product, once it finally gets packaged, to give the juice its original orange flavour. Not surprisingly, the orange juice producers do not make any reference to this anywhere.

Informative and authentic eye-opener documentaries such as Food Inc. and Tapped have upped the ante in terms of the exposure shared with the public to what is wrong with the food processing/food chain and water bottling sectors respectively. Moreover, the GMO debate with the exceptionally well-connected and deep pocketed Monsanto (the St. Louis-based biotech giant and world’s biggest seed seller) will not be going away any time soon.

Other industries notorious for deceit are banks and cellphone/telecommunication companies with their hidden fees. These blatant revenue generators are sales at any cost – short-term gains, of course. These companies guilty of gouging seem to be testing the limits with consumers – as if the latter are ignorant. Those absurd fees evidently enrage the culprits’ customers.

Employees reflect the brand

First and foremost, trust begins with company employees. If they are well trained and treated with respect and transparency, the employees will trust their employer and radiate their enthusiasm, as well as loyalty to their customers by going the extra mile.

Along with a brand being a valuable asset for any business, people also fit into the equation as an important asset. This is where hiring the right people, on-boarding them, training them adequately and empowering them all create a positive impact on customer satisfaction.

Many brands are myopic to the point that they unintentionally and unknowingly allow their dissatisfied customers to go away without a thought. Front-line staff is either not trained properly and/or lacks the proper attitude to handle clientele appropriately.

During the industrial era, consumers would simply purchase what was produced, shopping where that product was available and paying the price the retailer demanded. In essence, the manufacturer and the store were in position of strength. As products and consumers have changed over the years, the concept of ‘brand loyalty’ and ‘consumer insight’ came about. As we progressed into the new millennium, the transparency and unrestricted information available on the internet has changed all of that. Today consumers are not only better informed but they are also in control. They can make or break a brand through their actions. So what does this say about listening – and acting?

Consumers will no longer refrain from informing companies on what may have gone wrong ─ whether it’s a particular brand or a competitor’s. With the numerous platforms for consumers to make their voices heard online, brands have to be very reactive and not allow anything to chance. In an age when the consumer’s outcries and influences spread quickly, the results can signify lost sales and a deterioration of brand loyalty.

aaa

When all is said and done

Building and nurturing a brand is what makes an enterprise gather wind under its wings. Common intelligence dictates that the way a customer is dealt with reflects on the integrity of the brand, and the image of the company in the mind of the consumer.

A “Brand” is a promise of something that will be delivered by a business. This promise comes in a form of quality, an experience and a certain expectation in the mind of the consumer. It includes the Unique Selling Proposition (USP). Marketing, on the other hand, is about spreading compelling messages to your target audience while branding is a combination of words and action. Marketing is extroverted and communicates quickly, while branding is introverted and a slow process if it’s to produce any real impact. Effective marketing activities are vital in developing a brand. When combined successfully, branding and marketing create and promote value, trust, loyalty and confidence in a company’s image, products and services.

According to an Edelman’s Trust Barometer, it was revealed that 77% of respondents refused to buy products from companies they distrusted. More disturbing is that 72% said they had criticized a distrusted company to a friend or colleague.

When customers are treated with honesty and delighted by a particular brand experience, they begin to bond emotionally with the brand. They become brand loyalists and advocates – buying the brand more often and recommending it to others. This behavior serves to build the brand’s reputation. This approach is priceless –even though it may take longer to take positive effect.

___________________________________________________

Request your TWO FREE chapters of this popular book with no obligation.

EntrepreneurialEssentials - FrontCover Final

 

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November 1, 2018 · 6:53 pm

Brand Refresh: Re-branding Through a Meaningful Transformation

By James D. Roumeliotis

Rebrand Image

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When a brand reaches a stalemate, management is to blame for neglecting constant evolving market trends, competitive pressures and ignoring customer feedback. If sales turnout to be lackluster for several quarters, it may be time to consider a re-branding strategy and implementation. Investing and continuously reinvesting in a brand’s nuance will earn and retain consumer loyalty. However, it is not adequate to merely change the look of the logo through an image makeover. The promise it conveys must be delivered each and every time – irrespective if selling a product or service. The advice offered herein concerns a fatigued brand and its product(s). As for a damaged brand, due to a company crisis, it is a subject on its own not reviewed in this article.

Complacency breeds mediocrity

In business, as with any other endeavor, progress is an ongoing process. Nothing should be taken for granted. Undoubtedly, the most profitable and enduring companies achieve their longevity and lengthy track record of success by constantly reinventing themselves. Once a brand is launched, it requires constant nurturing if it is to remain relevant, as well as customer engaged. This includes seeing opportunities and acting upon them in a timely and focused manner. Moreover, being aware of making adjustments according to ever changing trends in the marketplace, as well as through customer feedback, is paramount. The tools in a company’s chest is marketing research which uncovers needed information for a thorough understanding of its target market including perceptions its customers have for the brand. As a result, its knowledge will be updated with regards to consumer preferences and expectations. Following this, a short-term and mid-term approach should be implemented.

Customer centric vs product centric

Consumers today are more brand conscience, yet there are companies which continue to spend money advertising and selling product rather than brand. They place emphasis on price and quality as differentiators despite these two being overused by many copycats. Successful brands take a holistic approach to selling by exploiting the 5 senses which now constitute the brand. This is accomplished via “sensory/sensorial branding”, through a captivating designed setting, yet alluring. This adds character and invites clients to truly feel the brand experience.

Building and sustaining a brand necessitates continuous enhancements by means of innovation and customer centricity. The marketplace is also evolving and the consumer is more savvy, thanks to the internet. Add to that competitive and price pressures. In addition, there is a massive shift in purchasing behavior of the younger target groups most notably the Millennials, who unlike their parents, are very particular in their tastes and purchasing habits. This is due in part to an expanding world of choices and options for just about everything they ever need or want. Thus, new market realities should be contemplated when re-establishing a brand.

Branding in essence is the heart and soul of the business. It sets a business’s products and/or services apart from the competition. This is particularly true in certain sectors where price is the only differentiator, though competing merely on price is a dead end game as your product falls into a commoditized category. The only firms which can win at this game are those in high volumes and low margins. Needless to say, it is much better to target a niche market, especially in the premium category, where there is less competition and margins are higher.

Examples of brands which overhauled their brand to a higher level, reflect on the following:

Hyundai: From dull automobiles and inferior quality they transformed to developing striking designs, improved quality and sold at attractive prices. Taking their brand one step further, they added a halo effect by creating a premium category, in Genesis to rival the well-established and pricier German competitors such as Mercedes, BMW and Audi models.

Apple: This strong brand began as a premium personal computer company with its first product, the Lisa, in the early 1980s. Much later, it introduced new and sought after categories in consumer electronics including the renowned iPhone. Fast forward to today, by hiring two former luxury domain senior executives and with the introduction of the Apple Watch, including an 18-Karat gold version (named Edition), the brand appears to be implementing a luxury strategy. Since perception and brand image is important in luxury distribution, Apple is considering opening separate stand-alone watch boutiques.

IBM: This brand went from computer manufacturing to IT consulting services. The company had to make a painful choice: innovate or die. It made the bold decision to abandon the core of its business model – selling low-margin personal computers, supercomputers and other computer hardware to a completely new focus – providing IT expertise and computing services to businesses. The business model revamp paid off. A few years in and IBM had acquired a significant number of companies in the IT services sector to dominate it with high margins.

To revamp a brand, consider carrying-out the following enhancements with purpose:

  • Add an element of sensuality and desire: Read article
  • Enhanced, appealing and easily recognizable identity: The logo, communication style, color scheme and any other visual elements of the company. Perception by its target market is key. Brand identity (company created and how it wants to be perceived) and brand image (what the consumers actually perceive) should be in sync.
  • Improved product and service: It is not simply adequate to reinvigorate a brand without refining the company’s products and services which should also make a positive difference. Read article
  • Compelling USP: The unique selling proposition should be meaningful and convincing if it is to be convey differentiation for the brand along with its products and services.
  • Storytelling: Brands build relationships by the stories they tell. Stories add personality to products which customers can better relate to and feel affinity with. For example, luxury brands boast their pedigree.
  • Lifestyle brand: Generally speaking, brands that are designed for a lifestyle should have a much higher emotional value to consumers than ones based on features like cost or benefits alone. Read article
  • Prestige or premium category: Move away from a commoditized product to a prestige and premium category if you want to differentiate as well as charge a premium price which in turn improve margins. Doing so should justify the “prestige” and “premium” labels through high-quality workmanship and materials along with benefits which trump its competitors. Adding a story behind it increases justifies the price increase. The brand may also be considered “mass luxury” or “masstige” (“prestige for the masses” and defined as “premium but attainable” by the masses.). Lacoste apparel is a fitting example.
  • Social media and PR savvy: Engaging with your target audience – this is conducted through social media and requesting Simply put, engaged customers help you build your business.
  • Make it fun and effortless to do business with you: Make each touch point a pleasant and graceful experience. Hire for attitude and train for high standard of customer services including thorough product knowledge and a no pressure consultative selling approach. Read article

To add to the above, it is imperative to include a management team and subordinates who buy into, as well as apply the above-mentioned elements.

Rebranding Image 2

Image is perception – repositioning time

A brand should be sensitive to its image and equally mindful about what its perceived strengths and weaknesses are as compared to its competition. A SWOT analysis helps uncover these.

There are a good number of factors to recognize in regards to what can erode a brand. According to The Blake Project’s Brand Strategy Insider newsletter, an article entitled “60 Signs Your Brand is Dying”, it describes: “What kills a brand, more often than not, is what it lacks rather than what it does: conviction; energy; value; humility; cash; discipline; imagination; focus…” along with a list of 60 reasons a brand is dying. We witness this with the downfall of the Blackberry brand of smartphones. The executives at the company were so arrogant, that they did not initially see yet later ignored the disruption Apple and the now ubiquitous Android platform would bring to the smartphone market. As a result of Blackberry’s lack of a long-term strategy to outmanoeuvre its competitors, it hastily introduced new products which still left the brand two steps behind Apple and Google with its licensed Android.

The takeaway

The brand is the personality, as well as an (intangible) asset of the business since it possesses equity which in turn is its value and goodwill from a consumer perspective. The more valuable it is, the more can be charged for the product and/or service. The foundation of the brand is/are its product(s) and/or service(s), followed by the total customer experience ‒ which includes customer service. Thus, building and nurturing a brand is what makes an enterprise gather wind under its wings.

A brand ought to undergo rejuvenation and in some cases, a fundamental change if it is to be relevant with its intended audience. To do so requires a systematic understanding of its typical customer profile, its wants, desires and the changing marketplace. This is done through a market analysis – the results of which will be taken in consideration for a new/updated and creative strategy with efficient implementation. If the brand has become stale, which is usually revealed through a steady decline in sales and discouraging customer feedback, it is a strong indication that its products and/or sales ought to be improved and re-launched.

In the end, can you frankly answer the following?

– What do you aspire your brand to stand and be relevant in the mind of your target market?

– What is your unique selling proposition?

– What is your raison d’etre? (Watch this immensely popular TED video by Simon Sinek)

– Are you admired?

– What are you doing to align your goals, objectives and to remain a compelling brand in your market?

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May 9, 2017 · 10:57 pm

The Authentic Brand: A Precious Asset Developed Through Transparency, Customer Experience and Ultimately, Loyalty

By James D. Roumeliotis

aaa3

Honest by ad. A pioneering company launched in January 2012. The company is unique in communicating about the supply chain of its products and pricing.

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Trust is a hard thing to come by these days whether between people or between people and brands. When the founders of a start-up build a brand from the ground-up or the executives of an established one are in modus operandi mode, taking a cautious approach to their brand image, in both scenarios, ought to be part of growing and preserving the business with a constant eye on the future.

Sadly, nonsense, and plenty of it from ubiquitous brands, is probably the best noun to describe what consumers are offered by many companies selling their products and services to them. Whether it is advertising, package labeling or an overstated pitch by their sales staff, the information presented may be deliberately misleading. With some brands, it is the tiny print in disclosure statements which defeat what is promised in larger and bold advertising headings. The majority of consumers do not read small footnotes. Think of the worst offenders of this practice: the cellular phone/telecommunication providers, insurance companies, credit card providers, as well as the automobile manufacturer promotional offers and pharmaceutical advertisements – to name a few.

Deception concealed as sincerity: How to chip away at your brand

The key to a successful business growth, along with reputation, is truth in advertising, delivering on promises made, avoiding deceit – and marketing the brand, not the product. Contrary to popular belief, a brand is not a logo, label or product but rather a relationship with customers. It is a promise. Branding, when carefully executed, adds value to a company including brand equity. This is considered intangible brand value. By applying a short-term revenue and profit strategy at the expense of long-term negative consequences, a business’s brand reputation will ultimately lose its luster.

In the 2015 Harris Poll Reputation Quotient®, published the reputations of the 100 most visible companies among the U.S. general public. What appears on the top five, among other notable brands as consumers perceive them, are Wegmans Food Markets, Amazon, Samsung, Costco and Johnson & Johnson respectively.

Consumers have high and explicit expectations from brands, thus anticipate what the brand promises via its marketing material and/or what is stated on the product packaging. What a brand actually delivers and how it behaves in the process is what consumers get to feel.

A brand which utilizes short-term sales and marketing tactics for quick short-term gain fails financially in the long-term by acting in an ethical way. As marketing maven Seth Godin rightfully proclaims, “In virtually every industry, the most trusted brand is the most profitable.” As with our personal lives, trust with branding is based on what one does, not what one says.

Boosting sales and market share via misleading and deceptive tactics

According to a 2013 Harris Poll, regarding the most and least trusted industries, the advertising industry was near the bottom of the list when rated up against many other business sectors. Seemingly, truth in advertising is a misnomer. Misleading and deceptive advertising by many marketing and branding executives, give the entire industry a negative perception.

The food processing domain is no more honest with labels that claim to be healthy but without support with any concrete scientific facts. Food companies tout their devious label claims of organic, nutritious etc. – although an absurd amount of sugar and/or sodium is present in the ingredients along with unnatural artificial ingredients). Kelloggs even went as far as having to be ordered, by the courts, to discontinue all Rice Krispies dubious advertising which claimed to boost a child’s immunity system.

Then there is the “premium” orange juice from popular brands such as Tropicana, Simply Orange and others which are highly processed, and usually stored for several months before reaching consumers at the supermarket fridge aisles. This processing method is used to retain the juice from spoiling. However, during that process, it also strips the flavour which is injected back into the product, once it finally gets packaged, to give the juice its original orange flavour. Not surprisingly, the orange juice producers do not make any reference to this anywhere.

Informative and authentic eye-opener documentaries such as Food Inc. and Tapped have upped the ante in terms of the exposure shared with the public to what is wrong with the food processing/food chain and water bottling sectors respectively. Moreover, the GMO debate with the exceptionally well-connected and deep pocketed Monsanto (the St. Louis-based biotech giant and world’s biggest seed seller) will not be going away any time soon.

Other industries notorious for deceit are banks and cellphone/telecommunication companies with their hidden fees. These blatant revenue generators are sales at any cost – short-term gains, of course. These companies guilty of gouging seem to be testing the limits with consumers – as if the latter are ignorant. Those absurd fees evidently enrage the culprits’ customers.

Employees reflect the brand

First and foremost, trust begins with company employees. If they are well trained and treated with respect and transparency, the employees will trust their employer and radiate their enthusiasm, as well as loyalty to their customers by going the extra mile.

Along with a brand being a valuable asset for any business, people also fit into the equation as an important asset. This is where hiring the right people, on-boarding them, training them adequately and empowering them all create a positive impact on customer satisfaction.

Many brands are myopic to the point that they unintentionally and unknowingly allow their dissatisfied customers to go away without a thought. Front-line staff is either not trained properly and/or lacks the proper attitude to handle clientele appropriately.

During the industrial era, consumers would simply purchase what was produced, shopping where that product was available and paying the price the retailer demanded. In essence, the manufacturer and the store were in position of strength. As products and consumers have changed over the years, the concept of ‘brand loyalty’ and ‘consumer insight’ came about. As we progressed into the new millennium, the transparency and unrestricted information available on the internet has changed all of that. Today consumers are not only better informed but they are also in control. They can make or break a brand through their actions. So what does this say about listening – and acting?

Consumers will no longer refrain from informing companies on what may have gone wrong ─ whether it’s a particular brand or a competitor’s. With the numerous platforms for consumers to make their voices heard online, brands have to be very reactive and not allow anything to chance. In an age when the consumer’s outcries and influences spread quickly, the results can signify lost sales and a deterioration of brand loyalty.

aaa

When all is said and done

Building and nurturing a brand is what makes an enterprise gather wind under its wings. Common intelligence dictates that the way a customer is dealt with reflects on the integrity of the brand, and the image of the company in the mind of the consumer.

A “Brand” is a promise of something that will be delivered by a business. This promise comes in a form of quality, an experience and a certain expectation in the mind of the consumer. It includes the Unique Selling Proposition (USP). Marketing, on the other hand, is about spreading compelling messages to your target audience while branding is a combination of words and action. Marketing is extroverted and communicates quickly, while branding is introverted and a slow process if it’s to produce any real impact. Effective marketing activities are vital in developing a brand. When combined successfully, branding and marketing create and promote value, trust, loyalty and confidence in a company’s image, products and services.

According to an Edelman’s Trust Barometer, it was revealed that 77% of respondents refused to buy products from companies they distrusted. More disturbing is that 72% said they had criticized a distrusted company to a friend or colleague.

When customers are treated with honesty and delighted by a particular brand experience, they begin to bond emotionally with the brand. They become brand loyalists and advocates – buying the brand more often and recommending it to others. This behavior serves to build the brand’s reputation. This approach is priceless –even though it may take longer to take positive effect.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

___________________________________________________

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January 1, 2016 · 11:29 pm

The Top 10 Most Read Articles in this Blog for 2015

by James D. Roumeliotis

Top 10 Articles for 2015

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As in every year, I have once again rounded up the ten most read/popular articles — this time for  2015. The following ten captured the most attention by numbers and from 154 countries in all. See them all below in descending order.  Your views are always encouraged including subject matter you think I should be covering more of.

THANK YOU for your readership and I look forward to feeding your mind with much more business practical food for thought this year which can be applied for timely results.

1 Luxury vs. Premium vs. Fashion: Clarifying the Disparity

2 Perceived Quality: Why Brands Are Intangible

3 The Art of Selling Luxury Products: Brand Story Telling & Persuasion

4 Mass Customization & Personalization: The Pinnacle of Differentiation and Brand Loyalty

5 Exceeding the Hotel Guest Experience: Anticipating and Executing Desires Flawlessly

6 Brand Awareness: the influence in consumers’ purchasing decisions

7 The Ultra Luxury Purveyors: Lessons from brands catering to the richest 1 percent

8 Identifying and Catering to the Discerning Consumer: Quality and Service Above All

9 Start-up Essentials: A Universal Roadmap for Starting a Business — Infographic

10 Product Features vs Benefits: The Brand Differentiation

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July 1, 2014 · 12:26 am

Maestros of Ambiance: The Art of the Hotel & Food Establishment Experience — in visuals

by James D. Roumeliotis

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March 2, 2014 · 10:41 am

Branding Essentials for Small Enterprises

Viewpoint by James D. Roumeliotis

Small Business Branding

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Entrepreneurs may possess an abundance of passion for their small enterprise, but when it comes to promotion, value proposition, and building a brand their enthusiasm wanes. Building and nurturing a brand is what makes an enterprise gather wind under its wings.

No matter how small your venture may be, branding is essential. Branding is more than sticking a logo on a letterhead or business card.

Branding is the DNA of what you sell or do. Considering clients want to bond with a brand, you owe it to yourself to generate a story line. Buying today is so much more than a question of need. It is a question of relationship.

It is a given fact that a small enterprise will not have the budget or resources to implement a high powered show, outsource to an award winning agency or hire a PR/Marketing team to handle the ins and outs of this side of the business. However, what you do have or should have is creativity, innovative thinking, a sound understanding of your market, sweat equity and chutzpah.

Getting to grips with the differentials

The terms marketing and branding are often used interchangeably. This is a mistake in understanding. They are in fact two different concepts and should be understood as such.

Marketing is defined by the Chartered Institute of Marketing (CIM) as: “The management process responsible for identifying, anticipating and satisfying customer requirements profitably”.

Marketing provides strategic support to the sales function, by locating and nurturing qualified leads in order to reduce the cost of sale and shorten the sales cycle. To accomplish this, marketers use a variety of techniques, such as advertising, market research, and logo design.

The American Marketing Association (AMA) defines a brand as:
“A name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.”

A brand is a promise of something that will be delivered by a business. This promise comes in a form of quality, an experience and a certain expectation in the mind of the consumer. Any viable small business must embrace branding, have a clear sense of identity and value proposition. Many start-ups typically make a cardinal mistake by thinking that they are just selling products or services. The organization of the firm may be sound, but a strong grounding in branding will make your venture a pure success story.

Branding in essence is the heart and soul of your venture. It sets your products or services apart from the competition. This is particularly true in certain sectors where price is the only differentiator. Competing just on price is a dead end game. The only firms who can win at this deal in high volumes and low margins. Small businesses cannot compete here. Service and experience therefore, should be added to the column of differentiators.

For example, local or neighborhood businesses which sell products with a reputable identity and favorable customer perception will invariably sell more and can command a better prices. Take the case of La Vie Claire in France. The franchise model has made these shops institutions in targeted neighborhoods. Most products are branded with the name of the store. Other brands are small or unknown. Sales at individual point of sales hinge on the service and advice of the resident manager. Given the price points of organic food, cosmetics, vitamins, mineral supplements clients seek a value added proposition to shop here on a regular basis. The key component is reliability, friendliness, and good products, which are fresh.

What is Branding - Green Board

Consider the following keys:

1) Begin by defining your brand
Their is a small mens clothing boutique in the ninth arrondissement in Paris. The name is Husbands. It is off a main shopping street, but you would need a reference to know it exists. The brand ID is classic English tailoring ready-to-wear with a rock ‘n roll attitude. Fabrics are top notch and there are subtle detailing common to bespoke. Prices are moderate. However, if you are a new comer to the store, the first question you would ask yourself is: What is the unique selling proposition?

The owner of this store, will be happy to oblige you by talking to you about his passion and why the clothes are good value for money. However, is Husbands a brand? To the client, the answer is no. The story line of the brand and the store should be clear without an explanation.

2) Positioning
What do you want your brand to represent? Examine text book examples of brands that work. Don’t copy. Just learn the lessons and apply them to your brand in the making. A good case here is Hackett. When Jeremy Hackett first started out on the wrong end of the Kings Road, he understood that his brand had to embody something. In his case it was the essential British kit. Everything about the original concept captured the elegance of British tailoring without copying Savile Row. The store was old school for a new generation. The moment the press talked about his venture, the shop was off to the races.

The concept of Hackett was clearly defined from the beginning. Everything and I mean every detail was bonded into the brand and the DNA was solid and clear in any client who visited the premises.

3) Visual Identity
Neglect this point at your own risk. Color, lighting, furnishings, logo, bags, and so forth must speak with one unified voice. If the voice is mixed or unclear, your brand is dead in the water. Online presence must support the bricks and mortar entity. If you just sell online, fine. Just make sure their is one storyline, coherent, defining, and engaging. If it is, clients will act as ombudsmen. If it isn’t, you won’t make a single sale.

Take the case of Atelier de l’Armee based in Amsterdam. The strength of the brand ID is workwear, vintage, military. The concept revolves around craftsmanship with a contemporary voice of high quality and style.

4) Articulate your messaging
Ensure coherent communications online and offline. Three brands come to mind worthy of your attention: Ralph Lauren, Dolce & Gabbana, and DKNY. Each of these brands encapsulates a unique and distinctive vision. The products become the props to their fantasy worlds. The message delivery is always on target because they have been thought through with precision. Which ever value proposition you entertain, you must admit that the ID is engaging and speaks with its clients as valued partners not at them.

Advertising, events, sponsorships, promotions, direct marketing, customer relationship management are only the tools of the trade. The right messaging spearheads each component in a contiguous manner, which everyone finds engaging and wants to be part of. Does your brand accomplish this? If not, better go back to the story board.

5) Obsession
Often I have this discussion with colleagues and clients. It is about generating an obsession. Almost sounds like a perfume brand. Successfully generating obsession is the best sort of brand loyalty. Clients are enchanted and as mentioned before on this blog constitute a magic kingdom.

A year ago, Entrepreneur magazine had published an article by author Paula Andruss titled “The Secrets of 7 Successful Brands.” In it, she wrote that regardless how long ago those brands were launched, they all share one thing in common: They have figured out how to work their way into customers’ hearts, minds and wallets. Companies include online eye-wear retailer Warby Parker, TED and Pinterest, amongst others.

Funny Law Firm Name

Branding for the private/professional practice

To develop a following requires a brand, and it doesn’t matter if you are a doctor, dentist, an accountant, or an attorney. All self-employed professionals should include it on their wish list. Your personal “brand” is what comes to mind when your “clients” are deciding whether to see you for the first or not.

Your credentials have much to do with your image in the consumer’s mind, so does your office ambiance and the courtesy (or lack of) offered the minute your staff greet the patient/client at the front desk. You may also be the doctor with bad breath or architect who is frequently late for appointments.

When branding your own private practice, you have the ability to carefully create a brand position that will appeal to your market and make your profession more successful through broader, or in some cases, very specific appeal. However, brand development requires time, energy, as well as a reasonable budget.

Personal brand positioning is the activity of creating an identity with a distinctive value in the target customer’s mind. For instance, when we think of an accomplished defense attorney, the first ones that spring to mind are those who have a reputation for having a high rate of litigation success – or cardiologists who are identified as utterly competent in curing most heart diseases and extending their patients’ life span. Essentially that is the position they occupy in your mind whenever you think of them.

Putting it all together

Branding significantly increases the overall value of brand equity. It’s proven that the brand value is ten times more than the physical assets of the company. It is more like investing in goodwill and this is priceless.

For a certain small businesses, the notion of marketing and branding remains unfamiliar territory. New business school grads however should approach this subject with eyes wide open. You can be a small fashion brand, boutique or even restaurant. Just examine the original Dean & Deluca, the gourmet food emporium, when it was located on Prince Street in SoHo, New York. The concept and vibe was pure branding genius.

Whatever path you choose, choose wisely. Create a brand with purpose. Give your audience a value proposition. Make them want to be part of your success story. Align your goals with an experience and the clients will come in droves.

Bonding with your audience also requires that you monitor the client’s behavior and the brand’s online reputation. Reputations can be fostered with either free or pay-for-service online tools such Google Alerts and Reputation.com. It is often advisable to conducting research among both your customers and employees. Timeframes can vary depending on your activity. Classic measurements take place either twice a year or annually.

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