And my favorite brand development quote is also from Tom Peters. He said “distinct... or extinct.” Very succinct and elegant. If you are not different you will not survive. Following are some other things you should check to see if you need Brand-Aid.
7 things you focus on to determine if you need Brand-Aid:
- Are your customers shopping your price and that determines the buying decision? I heard a shopper tell a printer she could get the printing done for 25% less at a shop down the street. The printer responded without hesitation, “Go ahead.” To my astonishment the shopper said, “I can’t, he went out of business.” If price is how the purchasing decision is made, then you don’t have a brand you have a commodity.
- Does your shopper believe that you and your competition offer the same quality and service? If so, then you have no differentiation. As Tom Peters said,“distinct...or extinct.”
- Do you believe that you can’t compete with the national brands? I have had clients tell me they can’t compete. My question to them is “if you could compete, how would you do it?” They always find an answer. It takes a little thought but anything can be branded. Think water.
- Do you have to rely on ‘Special Offers’ –you know, the ones where you mark up the price by 25% so you can mark it down by 20% and pretend to be giving the customer a good deal? Today with social media this is a very dangerous strategy.
- Do your retain 95% of your customers? I have been buying my tires and having auto repairs done by a local independent store for the last 30 years. Their growth rate has steadily climbed over those 30 years. They built a brand the old fashioned way with steady dependable service and integrity. They make no claims of being honest or offering good service. They just do it.
- Do you believe in advertising, even outrageous advertising? There is a tax service that uses a Statue of Liberty costume to create awareness of the service and the location. They are shrewd marketers who understand their audience and their brand. The costume works. And they are consistent.
- Do you have a competitive analysis of your competition? Sun-Tzu Chinese General & Military Strategist, said, "Know your enemy and know yourself and you will always be victorious." This is sound marketing advice. It's called positioning.
For FREE copy of our Nine Tips to Create a Great Brand, click here.
“Distinct...or extinct.” The magic of marketing is the art of brand building. “If you are not a brand you are a commodity. Then price is everything and the low cost producer is the only winner.”
About Ken Gasque
Ken Gasque is a brand developer—a professional marketer with a design background. Ken works with small companies and Fortune 500 companies who recognize the need to differentiate their products and services in a cluttered market. Ken is a highly visual, outside-the-box-thinker on advertising, branding and marketing. Ken writes a blog and lectures on brand and brand development. To learn more, visit www.Gasque.com