Branding! What is it?
“The brand is a promise, and it is a promise we must keep. There is no difference between who we are and what we sell” James Taylor, Gateway Computers “Software comes and goes. What we’re selling is Microsoft, not the individual products.” Bill Gates, Microsoft
Social media has become a powerful tool in branding’s management.
Branding—best solution to identity issues.
Why Is Branding The Best Solution?
Few things endure. Today’s breakthrough product is quickly eclipsed by the next innovation or lost in a sea of clones. That’s why companies that succeed over time build relationships with customers that transcend product. THIS IS BRANDING!
Brand management is the protector of profit margins, the preserver of high stock prices, and the cornerstone upon which brand equity is built.
In a world of greater and greater choice branding becomes an incredibly important piece of a company’s competitive weaponry.
Clues to low-profile problems
• Poor market/product awareness
• Weak client retention, no loyalty
• Inadequate lead flow
• Long selling cycles
• Low company valuation, shareholder anxiety
What’s A Brand?
• A “brand” is an icon used to differentiate a seller from their competitors. In the customer’s mind it’s a collection of memories.
• Brands bind the 4 key elements of the enterprise: customers, employees, management, shareholders.
• “Branding” is the process whereby a sustainable relationship between customer and company is developed. It’s the art of developing trust.
• The challenge is managing brand identity so that brand image is an accurate reflection of the company as you desire it to be.
Image vs. Identity!
The difference between them.
• Image is how the marketplace perceives you. Identity is who you really are.
• An analogy: Just as the clothes you wear are an important (image), even distinguishing, part of your identity, you wouldn’t think to consider them the substance of who you are as a person.
• Defined: Image is appearance oriented, tactical; while identity is substance oriented, strategic
Immediate Goal Is To Align Image And Identity.
• Best-practice companies excel at aligning brand strategy with business strategy.
• First learn your image in marketplace, and how it’s not aligned with the identity you desire. Next, fix it with the resources you have available by developing a Unique Brand Personality (distinguishing characteristics or persona).
• Remember that Brands live longer than products.