If you have a product or service that everyone needs and no one else offers, it's easy to be the best. Unfortunately, that's not a reality for most businesses today. To succeed in the real world, businesses need every advantage they can get. Many CEOs agree that the way to win is to build and manage their company's brand. Have you heard the saying, "Build it and they will come?" Well, it might not be that simple, but if you build a strong brand, then customers will be more likely to come!
Your business has a name and logo, and you advertise, but do you have a brand? Successful CEOs and business owners know that branding goes deeper than a name and logo. Logos, tag lines, and advertising campaigns are traditional marketing tactics that merely scratch the surface. Brands connect with customers.
- Who are my customers?
- What customers do I want to have?
- Who are my competitors?
- What is my competitors’ brand position?
- What problem does my company solve? Does anybody care?
- What is my value proposition? Is it distinctive? Is it relevant to my customers?
- When people think about my company or product, what are the feelings and associations I want them to have? Are they unique? Can we “own” them?
- What are the functional benefits that we deliver to our customers?
- What are the emotional benefits that only we deliver to our customers?
- What kind of personality will my brand have?