3 Essential Elements in Building a strong Brand
There are two main schools of thoughts regarding branding; the first holds that it’s an incomprehensible voodoo that marketers practice. I belong to the second which contend that it is a simple matter of applying the classic P’s of marketing; Product, Place, Price and Promotion.
To this list, some people have added another P; Prayer. They are not far off, but instead of prayer, I prefer proselytization; which is the process of converting others to your belief doctrine or cause.
Proselytization or Evangelism represents the core of branding for Businesses in today’s highly competitive world.
So what are the 3 essential elements in creating a strong brand?
1. Create a contagion:
The Secret to every great brand lies in aligning with a product or service that is gold or enhance it until it is gold. If you have something that is gold, you can make a lot of mistakes with it and still succeed. If you do not you, you have to do almost everything right. So why not make it easy on yourself; create or find products or services that are contagious.
2. Lower the Barriers to adoption
The more prevalent and accessible your product or service, the more you are likely to build a big brand. The first barrier entrepreneurs erect is complexity in understanding and using their product /services and payment plans. A high price is also a barrier to building a brand.
I hate competing on price; however squeezing every penny out of your customer is usually not the right philosophy either. A reasonable price that fosters the creation of a brand can produce larger returns later.
3. Recruit Evangelists
Evangelists believe in your product or services as much as you do and they want to carry the battle forward with you. While getting words out today about your company is easier than in the 80’s, due to the advent of the internet and social media, the difference an evangelist brings is CONSISTENCY.
For instance after understanding what your product or service is about, at Penexus Consulting, we get words out about what you do through;
Company Profiling, Business plan development and Internet marketing(which transcends status updates but includes Search Engine Optimization, Article marketing, Ecommerce Email Marketing e.t.c)
Oftentimes what determines if your product or service will feature in Forbes or Time magazine as probably “Top 100 revolutionary products of all times” is not just a “reported” healthy balance sheet, but the perception you have created through a well fostered community that has built strong social relationships.
You will Succeed!
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