What is your brand?

March 18, 2010 by

Mistakenly, many people believe that their company brand is their logo. When they think about brand development, they think about logos, colors, creative, and advertising. In reality, your company “brand” is the mind impression generated by someone when they are confronted with your logo, name, product, or service. And the mind impression generated by any individual is a culmination of all experiences that person has had related to your company, product, or service. This includes what they have heard or read as well as actual personal experiences.

Your brand is impacted by all you do and say as well as all that others say about you. From media to word of mouth, there is an independent brand generation engine running 24/7, working in your favor or not. Your ability to build a strong brand, and to make it the brand you want is directly related to everything you do to, or for, every employee, customer, or any other person that becomes informed about you.

When you think of strong brands like Mercedes® or Coca-Cola®, you get an immediate mind impression, including a taste impression in the case of Coke®. Some generate a good mind impression because they have had good experiences and / or heard positive things regarding those brands. Others, who have not had such good experiences or have heard less than positive things about those brands, have a completely different mind impression. Some impressions are very strong because there is a significant amount of experience, while some impressions are much less intense.

If you want to build a strong brand for your company, and you want it to be the brand that helps you achieve your Vision, Mission, and Goals, then you need to build that brand into everything you do, say, and cause to be said about you. From your logo to your advertising, products and services, treatment of customers and employees, commitment to your community and country, and overall business vitality, you must be diligent and consistent. If you don’t build your brand proactively, it will be built for you – good or bad.

Filed Under: Marketing

Are You a Buggy Whip Company?

March 5, 2010 by

With the invention of the automobile over a century ago, and the subsequent move to mass transit, the use of horses for transportation of people, goods, and services transitioned from essential to unnecessary. Along the way, many providers of related products, like wagons, buggies, and buggy whips either evolved into businesses that supported motorized vehicles, or they perished. Those that survived realized that they were in the transportation business, not the buggy or whip business. Those that perished thought the reverse.

Currently, the newspaper industry is going through a similar transition. Some see themselves to be in the “newspaper” business, while others see themselves (correctly) to be in the “news” business. Those that are in the news business, and modify the mediums by which they deliver that news to fit the market demand will survive. Those that do not will go the way of similar buggy whip producers.

All companies, regardless of size or age, must understand their business in terms of true market demand. They must monitor the evolving needs of their market and make the necessary adjustments to remain relevant. As simple as it sounds, businesses go under on a regular basis blaming market factors they could have, and should have, predicted and integrated into their strategic plans.

What business are you really in? What will that business / industry really look like in five, and then ten years? What proactive steps will you take to be relevant to your market and stay ahead of your competition?

Filed Under: Leadership, Marketing