The brand is the difference between a pair of running shoes and a pair of Nikes. A brands is what people feel about you, your product, the service you provide or your organization.
Its par rational but mostly emotional. People will forgive a strong brand if it makes a mistake. Likewise people won’t forgive a week brand if it makes a mistake. So what is the secret of a strong brand? The answer is surprisingly simple. Focus – great brands stand for something not a lot of things. One thing, for decades Swedish carmaker Volvo define their brand with a single word – safety not seem to work for them. Sometimes you have to think beyond the category to know what you stand for .
What is branding?
Harley-Davidson males motorcycles wanna guess what they stand for – freedom. Another more powerful engine not a more reliable by biker a smoother ride freedom. Brands are experiential. Take Starbucks – they differentiate themselves in many ways and offer a consistent brand experience in every Starbucks the visit. They even have their own language. Starbucks has created a unique community of coffee lovers that speaks Starbucks ease and are true bran ambassadors. It doesn’t get any better than that. Starbucks it realized they weren’t in the business observing coffee. They were in the business of serving people.
Steve Jobs on The Secrets of Branding
So can you put a monetary value in a brand the people at Interbrand research can. Remember the fine folks at coca-cola we mentioned earlier. Care to guess what their brand is worth. That’s right according to injure brand about 61% percent of the values of the coca-cola corporation. His brand that’s a lot of cash. Here’s monetary value of some other brands will be familiar with.
So a brand is worth protecting and nurturing, but how? Here are a few key points to help maintain or even grow your brand.
- Be Different. The world is filled with parity products and services, make your stand out.
- Be Vigilant. Don’t allow your brand to do things that shouldn’t, don’t be the Gateway computers have your category.
- Be Relevant. The marketplace changes constantly make sure your brand keeps up.