Brand Differentiation - Purple Cow for a Business Model
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Brand is, simply, how people perceive you / what you offer / what you can do for them, plus what differentiates you from alternatives. Differentiation is absolutely vital, and mustn't be underestimated.
A couple of books that have been very influential on how I understanding branding are Purple Cow by Seth Godin, and Zag by Marty Neumeier.
The core premise of Purple Cow is, whatever you do, you've got to be different, you've got to stand out, be memorable. In the 21st Century, just fitting in with people's general expectations, fitting in with the crowd, just doesn't cut it any more.
Zag comes at the issue from a slightly different angle. Neumeier says, when your competitors zig, you zag! You go in the opposite direction. Whatever is going on around you, do what it takes to stand out, be noticeable, and go against the flow.
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Online Media Rooms are an important part of any organization’s Web site and a critical aspect of an effective media relations strategy. Research shows that pages in the Online Media Room are among the most highly trafficked on a site.
Done well, a good Online Media Room will turn journalists who are just browsing into interested writers who highlight your organization positively in stories.
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Today, with so many messages and options around us, what drives our choices and decisions as consumers? What drives your customers' choices? I find it really helps me to get into the head of my customers.
The first category is: Someone who's looking for what we do. If this is the case, fantastic! All we need to do, then, is communicate that we do, do what we do, cleanly and effectively, without giving them a reason to disbelieve.
The second category is: People who aren't looking for what we offer. If this is the case, no problem. We've got nothing to lose.
It's really important to get your head round the reality that people visiting your site are your friends who want you to succeed. All you have to do is not mess it up - help them to make a positive decision. But you must also always remember to work out who are your real customers?
And while you are figuring this out, keep it real. Don't pretend to be a big-bucks mega-corp agency, if you're not. You'll find more success being yourself, which is the real secret of branding...
The trick is to be who you are, and to portray that in a strong way that people love and connect with. There's no point pretending to be what you're not. What you need to do is present what you are in the best light possible. |
Brand Extension - Stretching Your Brand
Brand extension is the widening of the range of products (or services) sold using a particular brand. By extending a brand to more products, a business can make maximum use of the additional sales a strong brand can generate. Brand extension is most commonly done by adding products closely related to those already sold using a particular brand.
Brand extension may be less obvious. A common example is adding products that appeal to the same market segment, exploiting the (presumably) good image a brand has in the minds of target customers. Brand extension, if overdone, can risk diluting a brand. It may also make a business more dependent on that brand - and brands can weaken.
Results from TippingSprung's second annual survey of brand extensions, produced in collaboration with marketing newsweekly Brandweek, revealed which extensions are most effective, which have potential to dilute the brand, and what makes some brands more extendible than others. Major trends in brand extensions were also uncovered.
"More and more marketers are looking at brand extensions as a way of leveraging the value of their core brand assets," said Robert Schwartz, Director of Brand Licensing, TippingSprung, and one of the survey's authors. "Our survey supports our belief that the most successful brand extensions come from companies that really know their customers, but know the limitations of their brand even more so."
The Top Brand Extensions
A total of 449 respondents to the survey chose the following top brand extensions:
- Iams pet insurance was named best overall brand extension with 26 percent of the vote. Febreze Scentstories air-freshener system came in second with just under 24 percent.
- Starbucks coffee liqueur was named as the best brand extension in the liquor category, winning over 70 percent of the vote. Grey Goose Entertainment, a joint-venture between the vodka maker and the Sundance Channel, was a distant runner-up.
- The best extension of a magazine was won handily by hardcover books from O, the Oprah magazine (31.5 percent). Forbes luxury auto site, forbesautos.com, was a strong second with 20.8 percent.
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Re-Branding - What to Evaluate & Do You Really Need it?
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Rebranding is one of those terms that has cropped up in the last decade or so. Branding means to link a name, trademark or service mark with a product or service. This is a brief guide to help you ascertain on your own WHEN your company needs a re-brand. Questions asked and answered:
What's a brand?
Why would you need a re-brand?
What does a re-brand involve?
When do you need one?
Whats a business brand? (briefly)
The term "brand" represents your business values, history and direction. It's a statement as to who you are and what you stand for. As times changes so will your business, the brand and the image it projects.
Why would you need a re-brand?
Change in your business is inevitable so the question is not "IF" I need a re-brand but WHEN do I need it. Companies should go through a re-brand at least several times in its lifetime and it should be a scheduled event reoccurring with minimal consideration once a year and with a major consideration every 5 years.
What does a re-brand involve?
For corporate companies it's a strategic action and they'll have invested in research to determine any decisions being made (all apart of the re-brand process). They'll have meetings and make joint conclusions about the future of the business along with prospective deals and changes being made. This all helps to make a strategic decision on when it needs to be done (now or later) because it will be done at some stage.
How do you know when you need a re-brand?
It all comes down to research. The idea is to look at the business and find evidence of progress and change. Be vigorous and dig deep because the changes will be specific to your business model but you may not have even realized the changes that took place.
Sum up everything that has changed about your business from the processes and sales to the way you're now perceived. Look at it in a timescale, what's changed within a year, anything significant or just small changes. A number of small changes can be just as strong as a big one.After research is done, analyze the results and look for detailed answers:
How has your business changed over the years?
How dramatic has the change been?
How important are the changes?
(Most importantly) Is the brand and image communicating who you are now?
Remember that re-brands don't have to mean an overhaul of the whole company image. The size of any change in the business should match the size of any change in your brand image. It could simply be a change of strap-line to signify a slight change in direction but a change nether the less to show a sign of progress.
The most common reasons for a re-brand:
- A merger or take over of a company
- A change in strategy
- A change in direction
- Keeping with the times
- Solving a problem
Specific changes that may have occurred that lead to a re-brand:
- Offering new services
- New core service
- Grown as a business
- Lost profit
- Created a partnership
- Now web based business
- Now an office based business
- New clients
- New targets
- Outdated
- Brand image not working
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