Posted on Wednesday, October 19th, 2011 by Jonathan Ebenstein
I have a confession to make. I’m not an order taker. If a client or prospective client instructs me to design an ad, a website, a direct mail piece, et al., I’m not going whip out my notepad, or iPad for that matter, and start taking orders like a waiter in a restaurant…I won’t be asking “Do you want a side of SEO with that website”?
I’m a branding guy. I believe that before you can expect to get meaningful results from any kind of marketing tactic (i.e., website, brochure, tradeshow display or advertisement, etc.) you need to have a strong, established corporate brand that everyone in your organization can own, sell and defend. Otherwise you just have a bunch of people rowing in different directions, going nowhere, while spending a lot of time, money and resources.
This is why most marketing initiatives fail. They lack the foundation of a strong brand in which to build their marketing communication tactics, and then find themselves unable to reap the true benefits of what a strong brand can bring them.
If you are interested in learning more about what the benefits of a strong brand can mean for your company and how it can help, I invite you to read my e-book on the Benefits of a Strong Brand.
Benefits of a Strong Brand – Part One – Strong Brands Charge Premium Pricing
One morning, my wife woke up and decided she was going to train to run the Cleveland Marathon. She had never done anything remotely athletic in the 15 years I had known her, but on this particular Sunday morning she decided to start training for a marathon. Step one? Go get some running shoes. Several hours later, she came home with a pair of Nike's. Feigning interest, I asked, “Why did you get Nike's”? “Well”, she started, “I don’t know too much about running shoes, but I trust Nike…” (Pause) “…they were a little more than I wanted to spend, but you have to pay more for the best, right?”
And there it was … Benefit #1 of a strong brand. Strong brands can charge premium pricing. Think about it … Who hasn’t been in a similar situation? You go into a store to buy something and while there are lesser-known, cheaper brand options, you decide it’s worth it to pay a little more for the top brand. Why? Because strong brands bring credibility, peace of mind and comfort to your purchasing decision. And, since people often buy based on emotion, how the purchase is going to make them feel will often trump cost. For most folks, peace of mind is worth the extra dollars.
Regardless of the market, only one company, product or service can be the least expensive. All the other players in that same market space must figure out a way to position and differentiate themselves from the rest of the field. A strong brand will not only help achieve this, but it will do so in a way that encourages your customers to pay for the intangible benefits they perceive they are receiving by associating themselves with your brand. And, they’ll pay more for it.
By the way … my wife finished the marathon in 3 hours and 57 minutes. Not too shabby.
For a no risk assessment of your brand or to simply meet and discuss your company’s branding efforts, give our brand marketing agency a call at 440-449-6800.