Why most companies can't brand ?
Bad branding is an epidemic.
Seven out of 10 American companies are going about it the wrong way, wasting billions of dollars and missing the opportunity to establish a brand identity that sets them apart from the pack. Fortunately, the cure for poor branding is simple. It's about three things:
• First, it's about thinking of brands in a surprisingly easy, everyday way that makes branding intuitive. This will demystify the process of finding and expressing your big idea so you can actually do it.
• Second, it's about transforming your business by putting your brand on an effective regimen,a kind of high-protein diet, which will make it a #1 brand.
• Third, it's about the fact that you really can create an entire turnaround for your strategy and position in eight weeks — a workable, believable #1 position in the minds of your target customers.
But if effective branding is simple, why do so many smart executives do it so poorly?
There are three main reasons:
1. What you're about to learn is still not taught in business schools.
2. Companies focus too much on branding theories and not enough on reality.
3. People are afraid to choose — afraid to abandon a long, safe list of features and to
choose one idea.
Let's look at what business schools do teach — and don't. If you're a typical Wharton, Harvard, or Stanford MBA, you'll have learned all about finance, accounting, and organizational theory.
But at most top business schools, a subject like branding has about as much appeal as astrology. So, you're unlikely to learn much about the need for a DSI, a Dominant Selling Idea.
Also, companies put too much emphasis on theories. Consultants sell concepts like brand
charisma, brand karma, brand ethos, and brand surprise. Too often, though, executives are left wondering exactly what they should do.
The third major obstacle to branding is fear. Building a dynamite brand requires total commitment to a single path, an approach that involves taking at least some risks.
Marketing amateurs often try to make their products all things to all market segments. They're afraid to leave anything out, no matter how marginal a selling point it might be. They fail to grasp a critical marketing paradox: The power of your message is directly proportional to its simplicity and clarity.
Branding entails a relentless focus on a concise, compelling message. As with skydiving, the first step will be the hardest, but after that it gets easier.
You'll find that developing a strong brand is worth the effort and the money. It leads to more market share, more sales, more competitive strength, and more growth for your company.
In many companies, simply repositioning a brand around a Dominant Selling Idea has increased sales from 10 to 100 percent.
The good news is that you can brand anything. Frank Perdue branded chicken. Perrier branded bottled water. Florida's tourism industry branded sunshine. The even better news is that, based on 25 years of statistical analysis, you can be reasonably sure that your competition's branding is awful. It's either non-existent, or it's based on theories that have nothing to do with a selling idea or a differentiating value that the customer wants.
For every 10 companies, only one has a strong brand position, two more make legitimate efforts at branding, and seven settle for platitudes and puffery. What this means is that you don't have to create the most innovative marketing campaign in history to make a big impact. You simply have to use branding the right way to separate yourself from the pack.
Thanks to Bill Schley and Carl Nichols, Jr. for their participation !