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Subject: Part 2- Branding Is A Lot More Than A Name & A Logo

Author: Dennis S. Vogel

[ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 00:41:27 01/18/06 Wed In reply to: B.J. 's message, "What's Their Secret?" on 14:45:18 01/15/06 Sun After absorbing my thoughts on branding, let's consider another angle. Branding authority, Rob Frankel defines branding as marks put on cows to show ownership. He said after he's paid to raise the cow -- food, medicines, etc. -- he doesn't want it to be mistaken for somebody else's cow. As much as I dislike the thought of burning an animal, I admit it's a valid opinion. I take it further - it's not enough to make a mark on your product/service, you need to make a mark in the target market's minds. Your ultimate goal should to make your business name (if you sell directly to end-users), product/service brand name & in some cases your name a consistent part of your target market's lives. That can be a challenge if what you offer is used or purchased infrequently. Considering how quickly people get distracted & forget what they bought, from whom they bought it, why they bought it & might not care about brands, it's critical to remind them. Even if your business doesn't depend on repeat purchases, after you've developed trust & value as part of the mark you made in people's minds, you can recommend products/services of other businesses. In return for that, you can get access to other businesses' customers or a percentage of sales revenue. Branding is important, even if your business has done well without it. Many businesses did well without a lot of improvements … until a business using available improvements displaced them. It's so easy for business owners to think when customers bought them, customers will automatically return. Yet, those same business owners don't automatically buy from the same businesses. One reason is many other businesses are reaching them. It's like Tracy Lawrence sings in "Somebody Paints the Wall" -- "Seems every time I make my mark somebody paints the wall." There are a lot of businesses painting the walls of consumers' minds. There are a lot of demands, on people, chipping the pain off. Rude Awakening/Reality Check- Your message isn't a high enough priority, your offer isn't exclusive enough for them to automatically remember every (if any) detail. Remember AIDA? You attract to get attention, you intrigue to incite interest, you develop their desire, you ask for action, but it doesn't mean you've made a deep enough impression for them to remember. Back to Victoria's Secret Wexner preferred to adapt what others started, instead of taking the risk of pioneering a totally new innovation. Top companies in categories tend to be the former pioneers, but some later entrants took top positions. Some business pioneers started well, but later closed down. Raymond started Victoria's Secret well. Wexner had a different vision for the stores & took it to the next level. It's common for companies to slow or stop until somebody else with different ability gets involved. Wexner had the option of starting a new business, as he did with his others, but when he found VS, he knew his ideas could lift the company higher. Lingerie is a controversial product line. Even those, who approve of it, may reject it completely if it goes beyond their mental or moral threshold. Beneath a conservative image, may be somebody who likes to wear or see others who wear lingerie. This hypocritical trait can be true of customers of any product/service. Some customers might become very vocal critics. So, don't count on all of your customers to support you. I'm not trying to dissuade you from owning a business, I just want you not to be overwhelmed if controversies arise. Some controversy can help a business. Controversy gets attention & those on each side of the issue have emotions & reputations invested in it. That'll definitely make a mark in people's minds. That's the topic for the next post. Dennis S. Vogel thrivingbusiness@email.com When people aren't buying what you offer, it could be because they don't perceive value the same way you do. It's time for better marketing! http://web1.lakefield.net/~thrivingbusiness/ http://www.voy.com/31049/ [ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

Subject	Author	Date
Last Part- Controversy -- Who Needs It? Maybe You! But Be Very Careful!	Dennis S. Vogel	01:39:18 01/20/06 Fri