Friday, February 19, 2010

How Do You Evaluate Your Brand?

When it comes to marketing, maintaining a very good brand always allows a certain product to stand out from the rest. It defines it, and gives it a certain position in the entire pie of the market.

Specifically in the Philippines, "old companies" tend to take for granted the proper branding of their new product releases. In fact without the good product releases they had before, they would not have been taken into consideration by the market.

Relating this to our sales lessons, I want to cite a few but very important issues.

1. You have to know the position of the brand you are selling.

Be familiar with the details of your brand. Your market share, sales trends, your direct competitors, rational of features, and etc.
This will prepare you more in handling possible objections on your sales call with your prospect. With the kind of brand knowledge you have, you are able to add persuasion points on sales negotiation.

2. Having a proper background of your brand will help you see which buttons to push.

Again, this relates to know the needs and wants of your prospect. When you have complete know how of your brand, filling in the needs of your prospect allows you to sell in the most persuasive way possible.
Even to this day, whenever I attend a marketing cascade about a product, I still take note of the important details of a brand. Whether you are a season salesperson or a sales manager knowing your brand is vital to our selling success.

Anyway to learn more on how to evaluate you brand, here's another great post from McLellan Marketing Group.

If you want my views on why branding matters...check out these posts:

But let's assume you agree with me -- branding matters. If you think your company has a do you evaluate whether or not it's a good one?

Here are some criteria we use with clients when helping them either discover their brand or critique the one they have in place.

  • It's evergreen (this is not something you'll need to change on a regular basis. It will always be true about you.)
  • It's not a duh (if consumers already assume this about everyone in your category -- it can't be your brand.)
  • Memorable (If it doesn't stick, it won't work.)
  • The flag to rally around for your employees (Will they be excited and proud to help you achieve this brand?)
  • True - inside and out (You can't be one company to your customers and another to your employees)
  • A why or a how - not the what (how you create widgets differently or why you do it builds a brand..not that you make widgets. Everyone in your category makes widgets.)
  • Makes you a little nervous (A brand needs to be a bold promise to get noticed and to matter.)
  • Emotion based (We buy everything based on emotions. If your brand doesn't trigger an emotion, it will also not trigger a sale.)
  • Differentiate you (Isn't that what a brand is all about. It sets you apart from everyone else.)
  • Should dovetail with your mission/vision (Your internal goals and your public brand should be aligned or else one of them is off base.)
  • From the consumer's point of view (it's about them after all!)
  • I can tell -- it matters to me (the consumer has to be able to recognize and evaluate your brand promise. If you make the promise but I can't figure out if you kept it or not, we have trouble.)
  • Big enough to trigger a buying decision (your point of difference has to be significant enough that I'd open my wallet)

If you can say "yes, that's my brand" to most of these criteria -- you have a brand that will endure and that your employees, customers and community will embrace and support. But if you can't get a 10 out of 12 on this little test (it requires quite a bit of candor) then you know it's back to the drawing board.

To read more click the source below.



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