The Importance of Branding

What is a brand anyway? A brand is what allows Starbucks to charge three times more for a cup of coffee than your local convenience store.

A company’s brand is the set of assets that contribute to the value consumers attribute to that company. A well-established brand, or image, makes your product or service worth more. It’s that simple.

A brand is an image that exists in the consumer’s mind, but it doesn’t happen overnight. Consumers come to believe in a product’s quality, results, reliability and status because they see repeated assurances that the product delivers those attributes.

When consumers are motivated by a product’s brand attributes, they choose that product over similar ones in the marketplace. Why buy a Cadillac over a Chevy? It’s all about the brand.

Branding is just as important to a small business as it is to large corporations. To determine your branding position, you must first take an objective look at your company’s or product’s strengths and weaknesses, how does it stack up against the competition.

Establishing your brand can involve advertising but also includes public relations and, probably most importantly, providing excellent customer service. A consistent message in your marketing will go a long way toward reinforcing your brand.

Building a positive brand image translates into higher profits. The perceived value of your product or service allows for favorable pricing, because customers are willing to pay for the value of your brand.

Creating Irresistible Ads

Some tips for drawing customers in with your ad.

When creating successful print ads, the adage “less is more” is the way to go. Too often, entrepreneurs stuff their ads full of too many elements and the reader quickly moves to the next ad.

Avoid competing visual elements in an ad, unless you’re featuring multiple sale items. Generally, you want a clear, central message to be conveyed.

Also, too much information, i.e. ad copy, will turn off your prospective customer. Time is precious, and even well-engaged readers won’t take the time to read through long paragraphs of ad copy. Stick to a quick presentation with bullet points to get the message across.

Finally, busy designs and fancy fonts make ads hard to read. Keep the design simple and use no more than two or three fonts.

What makes an ad succeed? Ads that produce results have at least three elements in common: A clear, benefit-laden headline: Readers of your ad will have one question in mind, “What’s in it for me?” An effective headline must contain a compelling benefit. Identify what your customers want most from your product or service, e.g. saving money, quick service, large selection, etc. The ad’s body copy should detail how you will deliver the benefit that the headline promised. Finally, close the ad with a call to action, e.g. “Call today.”

A strong visual focal-point: A great eye-catching visual, whether a photograph or line art, provides the focus essential for a successful ad. Depict a member of your target audience using the product being advertised, for example. Or a stylized illustration of the product. A good fit with the chosen medium: In print advertising, this means utilizing print’s advantages. Print allows you to offer a fuller explanation of your product, service, or company; price points can be easily included; and color can really make your ad pop.

To summarize, a properly crafted ad should attract readers’ attention, be easy to read, guide the reader’s eye through the ad, visually stimulate the reader, and move him or her to action.

Source: Kim Gordon, Entrepreneur Magazine, December 2007

Let’s Talk Marketing!

Whether you’re a new entrepreneur or have been in business a long time, a thorough understanding of marketing principles is the key to growing your business. In this blog, we’ll discuss dozens of marketing topics, from the thin market to pricing concepts, online and offline advertising, the importance of research, and more.

We invite discussion from you, the reader, and encourage you to share your marketing experiences. What works, what doesn’t, and what you’ve learned along the way.

So let’s focus on making your business a success!