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The Basics of Branding by Raf Vlummens, Entrepreneurial Coach

The Basics of Branding

Learn what this critical business term means and what you can do to establish one for your company

 

Branding is one of the most important aspects of any business, large or small, retail or B2B. An effective brand strategy gives you a major edge in increasingly competitive markets. But what exactly does "branding" mean? How does it affect a small business like yours?

Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors'. Your brand is derived from who you are, who you want to be and who people perceive you to be.

Are you the innovative maverick in your industry? Or the experienced, reliable one? Is your product the high-cost, high-quality option, or the low-cost, high-value option? You can't be both, and you can't be all things to all people. Who you are should be based to some extent on who your target customers want and need you to be.

The foundation of your brand is your logo. Your website, packaging and promotional materials--all of which should integrate your logo--communicate your brand.

Brand Strategy & Equity

Your brand strategy is how, what, where, when and to whom you plan on communicating and delivering on your brand messages. Where you advertise is part of your brand strategy. Your distribution channels are also part of your brand strategy. And what you communicate visually and verbally are part of your brand strategy, too.

Consistent, strategic branding leads to a strong brand equity, which means the added value brought to your company's products or services that allows you to charge more for your brand than what identical, unbranded products command. The most obvious example of this is Coke vs. a generic soda. Because Coca-Cola has built a powerful brand equity, it can charge more for its product--and customers will pay that higher price.

The added value intrinsic to brand equity frequently comes in the form of perceived quality or emotional attachment. For example, Nike associates its products with star athletes, hoping customers will transfer their emotional attachment from the athlete to the product. For Nike, it's not just the shoe's features that sell the shoe.

Defining Your Brand

Defining your brand is like a journey of business self-discovery. It can be difficult, time-consuming and uncomfortable. It requires, at the very least, that you answer the questions below:

What is your company's mission?

• What are the benefits and features of your products or services?
• What do your customers and prospects already think of your company?
• What qualities do you want them to associate with your company?

Do your research. Learn the needs, habits and desires of your current and prospective customers. And don't rely on what you think they think. Know what they think.

Because defining your brand and developing a brand strategy can be complex, consider leveraging the expertise of a non-profit small-business advisory group or a Small Business Development Center  like  BETA – Business & Entrepreneurial Training Academy.

Once you've defined your brand, how do you get the word out? Here are a few simple, time-tested tips:

• Get a great logo. Place it everywhere.
• Write down your brand messaging. What are the key messages you want to communicate about your brand? Every employee should be aware of your brand attributes.
• Integrate your brand. Branding extends to every aspect of your business--how you answer your phones, what you or your salespeople wear on sales calls, your e-mail signature, everything.
• Create a "voice" for your company that reflects your brand. This voice should be applied to all written communication and incorporated in the visual imagery of all materials, online and off. Is your brand friendly? Be conversational. Is it ritzy? Be more formal. You get the gist.
• Develop a tagline. Write a memorable, meaningful and concise statement that captures the essence of your brand.
• Design templates and create brand standards for your marketing materials.Use the same color scheme, logo placement, look and feel throughout. You don't need to be fancy, just consistent.
• Be true to your brand. Customers won't return to you--or refer you to someone else--if you don't deliver on your brand promise.
• Be consistent. I placed this point last only because it involves all of the above and is the most important tip I can give you. If you can't do this, your attempts at establishing a brand will fail.

Joseph-like apostles will create much more than personal wealth. They will own and manage enterprises that will:

Leadership

“… We need from every man who aspires to leadership – for himself and his company – a determination
to undertake a personal program of self development. Nobody is going to order a man to develop. ….
Whether a man lags behind or moves ahead in his specialty is a matter of his own personal application.
This is something which takes time, work, and sacrifice. Nobody can do it for you.”

-Mr. Ralph J. Cordiner, Chairman of Board of the General Electric Company in a leadership conference.

Tiisetso Leadership Foundation & TUKS

Lets breed leaders who will change the course of the African Lifestyle.

Momentum

Momentum is a result of action!

Hedge Fund

An aggressively managed portfolio of investments that uses advanced investment strategies such as leveraged, long, short and derivative positions in both domestic and international markets with the goal of generating high returns (either in an absolute sense or over a specified market benchmark

Legally, hedge funds are most often set up as private investment partnerships that are open to a limited number of investors and require a very large initial minimum investment. Investments in hedge funds are illiquid as they often require investors keep their money in the fund for at least one year.

client service

If you make your clients feel at home they will make your business "their home". Client loyalty contributes to the longevity of a business.

Beyond Profit

As entrepreneurs , especially in Africa, having a mindset that transcends profit making is a must! We need to pull our communities and nations out of financial strife and bondage. We can not get there on a "profit only" mindset! We need to build what will prosper and economically set free generations to come. So help us God!
P&L

The beauty in focus

A more focused business is more sustainable than a "jack of all trades" type of business.  Less focused busineses usually take that approach in order to avoid risk of focusing on a core function.  The reason why this reasoning is flawed is that focusing enablea perfecting and eexcellence in the focused area.
P&L

The Process of Entrepreneurship !

Discovering Oneself
Identifying Opportunities
Generating & Evaluating Ideas
Planning for the Future
Raising start-up Capital
Starting-up & Executing a Plan
Growing with the Business.....

The ignored benefits high wages :-)

Contrary to what most business owners and managers think, well paid staff(high salaries) are a benefit not a cost. Why? Well paid employees are more motivated to do their work well, give more respect to their superiors and their salary greatly reduces employee turnover of the firm which can be a huge cost in the long run.A high employee turnover rate leads to additional costs in training new staff, costly mistakes of new staff as well as reduced output during the replacement finding time.

Competitive salaries also reduce sick days because employees are not only satisfied but also less stressed. 

Recommended for your reading is a Ford study on high salaries.

James 5:4

Have a productive and blessed week y'all!

P&L

The true marketplace

The true marketplace prides itself with innovators not duplicators.

Taking Action

Sometimes the best way to get people involved is ACTION. A vision or goal that is presented in a way that it can not come to fruition without external help looks unsustainable and doomed. People want to know that you the vision carrier can stand on your own, that you are serious about it and that you are committed. What better way to do this than START? What better way to do this than ACT? Most of us are inspired by a plan in action so let's move from the drawing boards to action and see God bless  and favour us. Whatsoever we DO(in God's will) shall prosper. Psalm 1:3
P&L

The Big 3

Purpose
Benefit
Sustainability

Have you identified and verified those for your current or prospective business?

P&L

Now is the Time

You will never Takeoff if you do not TakeOff! Shrug off the fear, Now is the time!

P&L

Welcome!

Welcome to TakeOff SA!
"A dream is a goal with a deadline"
Follow, Subscribe,contribute,benefit, let's go!
Pitso and Lissa