- It is the shared reaction that it evokes in the people that matter to your business – customers, prospects, employees, suppliers
o It is what they say about you when you aren’t there
o It is the way they have come to expect you to behave
o It is their assessment of your values and beliefs
o It is the feelings they associate with their interaction with you
o It is the stories they tell about you
- It is the things you do to support the reaction
o The kind of people you employ and the way they behave
o The kind of customers you target and why
o The values and beliefs that you run your company by
o The processes you use and how well they deliver the kind of product or service your brand promises
o Your style – of communications, dress, language and premises
- It is the collection of artefacts that represent your business and trigger the reaction
o Logos
o Website
o Company or product names
What are the benefits of having a brand?
- You will be at the top of their list (or the front of their mind) when a prospect thinks about buying what you sell
- It reduces perceived risk in the mind of the prospect – “No-one ever got fired for buying from IBM.”
- It multiplies your marketing – people find it easier to relate, and relate to, stories about feelings and a strong brand is shorthand for shared feelings about a company
- It makes you more referable if you have a widely-accepted positive reputation – there is less risk in recommending you
How can an SME develop a brand?
- As with all marketing, a brand is only of any use if you know what your target market and value proposition are
- You cannot buy a brand – you have to live it and demonstrate it first so that your customers and employees develop the brand through what they say and do
- It’s about coherence and congruence – be clear on who you serve, why and how; be clear about the values and beliefs that are important to you, your staff and your customers
- Make sure that this comes through in everything you say and do, from marketing to invoicing, from the website to the way customer services answer the phone
- Ask the people who matter (employees, customers, prospects, suppliers) why they chose you and what they think about your company. This is your brand.
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