In youâ€™re an entrepreneur building a brand, or taking a new look at your current brand given the changes in the environment, especially from competitors, you should read Allen Adamsonâ€™s The Edge: 50 Tips from Brands that Lead.
A few key points:
- A Brand is not the same things as Branding. A Brand is what the name represents to people; itâ€™s the picture and feeling that pops into peopleâ€™s heads. Branding is the process by which this picture or feelings gets into someoneâ€™s head; itâ€™s everything that communicates logically/emotionally what the brand stands for.
- A brand must communicate how it is different from competitors, in a way that people care. This includes:
- Differentiation â€“ what makes the brand unique
- Relevance â€“ how meaningful this difference is to the people who matter
- Esteem â€“ how well regarded the brand is in the marketplace
- Knowledge â€“ how well consumers know and understand the brand
- Energy â€“ how dynamic the brand is in terns of its ability to adapt and evolve.
- A brand is as a brand does. Tell people what a brand does through authentic, not gratuitous stories customers tell about it. The experience must align with the brandâ€™s purpose to be credible.
- For new products/services to gain a leading edge, the brand must represent to consumers something that they havenâ€™t seen before and that they can really use
- Brands address 4 questions: not only What it is and How it is used but Who uses it? and Why?
- The more people understand the purpose of the Brand (Why?), the stronger the brand value will be.
These are only a few of the tips. How well does your brand walk the talk and get people to fully understand itâ€™s purpose? What examples inspire you as you think about brands and focus on branding to increase its value? Share with us your experiences!