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Branding
An ounce of Water is selling for more than an ounce of beer- only in the baby boomers time!
Date: 11/24/2005 9:49:27 AM ( 19 y ) ... viewed 1961 times BRANDING
Evian water is such a powerful brand that 1.5 liters is now selling for more than $4.00 20% more than Budweiser, 40% more than Borden's milk, and 80% more than Coke.
Branding is the process of persuading your client that there is nothing in the market quite like your product or service. It is ironic that Evian spelled backwards is NAÏVE. Kind of a French way of saying, Americans will buy anything. Here are 6 ways that branding differentiates you from the competition.
1) Branding eliminates the need for mass marketing. Branding targets your market, making you an expert to those you want to focus on.
2) Branding separates you from all other competitors. If your competitors look, act and say the same things, they will only compete on price.
3) Branding creates a reason for clients to pay you more. Branding builds confidence in the mind of your prospects that you can deliver on your promises. When they have confidence, they are unlikely to quibble over your fees.
4) Branding builds client loyalty. If your client knows where your expertise is, they will not replace you with someone who is cheaper.
5) Branding builds referrals. If you try to do everything, you will be known for nothing. But if your brand is defined, you will gain referrals from those who know what you stand for.
6) Differentiation applies to everything you do. Your office, the letterhead, the way your staff answer the phone. Is it different? Is it better? Victoria's Secret Co. even puts photos of women in lingerie on their billing statements. Southwest means "fun". The flight attendants tell jokes even when covering the safety announcements.
Suggestion:
Ask your clients what you stand for. If they can't define what you do in a couple of sentences, you haven't clearly communicated your brand to them.
Kerry Johnson, MBA, Ph.D.
http://www.kerryjohnson.com
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