When you observe the course of successful organizations, whether Microsoft, Apple, or newer upstarts like the Dollar Shave Club and Warby Parker, it’s clear that innovation sets them apart from the competition.
But these companies also shine out because they built an effective branding strategy — one that is focused on a deep understanding of their customers’ needs throughout all stages of the buyer journey. They can excite & entice their loyal customers long after their initial purchase. Whether your company is just getting started or having a rebranding in the process, you’ll want to set a solid foundation through a branding strategy that reflects how well you know what your customers want and, in some cases, anticipate what they want — even before they do.
And, it requires differentiating your brand from the competition in ways that are relevant to your customers. A brand needs to be measured, maintained, nurtured, improved, constantly monitored, and leveraged to provide customer value with the intention of earning lifetime loyalty and advocacy. How is this done?
Consider the following mistakes new brand do and five do’s & don’ts if you are a new brand.
1. Don’t think of what your competitors are doing.
This may seem counter-intuitive, but one of the leading reasons for brand failure is building a brand based on what the competitors are doing. You are not your competitors – you started your own company because you had something better, & different, and/or unique to offer, and uncovering that unique brand offering is where brand development begins.
Do build your brand from the inside out. This is the same philosophy you should use when developing your brand. Who are you? How are you unique? Why do you exist? What are you capable of becoming? Nobody can answer these questions better than you.
2. Don’t boast a unique selling point because they sound good.
This is one of the biggest mistakes companies commit when defining and promoting their brand. The problem with this “me too” strategy is that it makes your brand blend in with every other brand you are competing with. Sure, there are other things as well you need to tout because there are at the thresholds of customer expectations, but when defining your USPs, define them in unique ways that communicate meaningful and relevant brand differentiation that will accelerate people through your sales process.
Do create USP’s you can prove. Whatever it is that you claim – whether it is focused on product quality, lead times, culture, service excellence, or other expectations, make sure you have the proof and the data to back it up. Also, make sure you can create the internal systems to support your brand promise. Think about it this way: When a brand makes a promise it can only kinda-sort of fulfilling them, customers will be disappointed – or worse, feel as if they were deceived, and may never return.
3. Don’t place your entire focus on creating a tagline that sounds cool, clever, and catchy.
Don’t place your entire focus on creating a tagline that sounds cool, clever, and catchy. You’ve seen them all. They may seem memorable, but that doesn’t mean they inspire people to change their buying habits or lead to shifting brands.
Do create a tagline that really defines your business. This can only be done when you have truly defined your brand. Such measures as brand consideration and customer acquisition.
4. Don’t assume your employees will support your new brand because you had an inspirational brand launch.
You can spend a substantial amount of money on an inspiring and motivating brand launch, but those emotions you stir up among your teammates and personnel will settle like a tired dog on the couch the next day.
It’s a new beginning, and you’ll need everyone on your side and also their help to succeed. You cannot be the brand you wish to be without the help of your people. Introduce different strategies to build your culture of innovation the day of, or at the latest, the day after your new brand launch. Don’t be the leader that is all talk and no action. There too many of those!
5. Don’t make promises to your staff that you can’t, or won’t keep.
If you’re a CEO who revoked some rather lofty promises to your staff about how things were going to change for the better of the company in the spirit of becoming the new brand. This habit of over-promising and under-delivering explained the low morale and lack of respect for leadership throughout the company. There is no rule that dictates what needs to be done when. The only rule is to have a plan and to get moving.
Thanks & All the Best 😉