The best definition of branding that we have heard is: “a brand is real estate you hold in someone’s mind.” Your brand is the sum of the experiences people have with your company in every context: through the media,on your website, by how and where your products or services are delivered, through every person who represents you – brokers, retailers, customer service personnel, etc.
Why is branding important and worthy of planning and investment? Because when we find brands we like, we tend to be very loyal to that brand over time, and we usually don’t mind paying a premium for it. That translates to higher revenue, greater profits, and a sustainable business.
The Zam Group has helped dozens of organizations develop new brands and redevelop brands that had lost their way. We believe there are five steps to building a great brand:
1. Know your customer
- What functional and emotional benefits are they seeking?
- How does your product/service fit into their life?
- Where do they buy?
- Who and what influence their purchase decision?
2. Assess your competition (they may be different than you think)
- What are all the alternatives – direct and indirect – that your customers have for your product/service?
- What do those companies do better than us to meet the customer need?
- What do we do better than them to meet the customer need?
3. Create your unique positioning/point of difference in the market
- Who is your brand targeting?
- What are your brand’s values?
- What do you/can you do better than your competitors?
- What evidence can you offer to prove this?
- What is your brand’s personality? Look and feel, tone of voice, style?
4. Communicate and deliver
- Business policies and practices
- Marketing communications and events
- Sourcing, manufacturing and delivery
- Stakeholder relationships
- Employee training & morale
- Performance metrics
5. Improve, improve, improve
- Measure results
- Ask for feedback
- Figure out how to be better
The Zam Group will guide you through these steps to develop a brand strategy unique to your market, your customers, your product or service, and your competition. Learn more about the brand development work we have done or contact us to learn more.
