Journal

How to Build a Profitable Brand

How to Build a Profitable Brand Illustration

A brand is much more than just the face of your business. A brand is the set of qualities that your audience associates with your business, the value that they assign to your business. Which words come to the mind of your prospective customers upon the first interaction with your business? Do they see you as an established expert in your field or an inexperienced newcomer? Do they place more trust in your business or in your competitors’? How much are they willing to pay for your products/services?

All the brands that belong to a common market compete for the consumers’ attention and loyalty. In order for your brand to stand out over the competition, the consumers must identify with certain qualities portrayed by your brand. Maybe they are looking for something affordable and accessible, or maybe they seek a high-end and exclusive experience; Perhaps they are looking for a traditional brand with classic values, or maybe they identify more with a modern and trendy brand.

Every brand aims to grow a base of loyal customers. In turn, this results in a greater competitive leverage, a larger share of the market, a larger number of customers that your business can profit from.

Moreover, a fruitful base of loyal customers allows your business to raise the prices of its products/services. A “tax” that loyal customers are willing to pay for continued satisfaction from a familiar brand that they identify with, as opposed to the risk of trying out a different brand for the first time with potentially disappointing results.

(more…)
January 23, 2018

Steve Jobs on Brand Values

Ever since the memorable 1984 Super Bowl commercial, Apple has become one of the most exemplary case studies on Brand Identity Design. Understanding why consumers worldwide are willing to pay a surcharge for products carrying the captivating apple logo —products that perhaps nowadays don’t really differ that much from its knockoff counterparts manufactured in Shenzhen and sold at a minuscule fraction of the price— is key for building strong brands and profitable businesses.

To me marketing is about values. This is a very complicated world; it’s a very noisy world, and we’re not gonna get a chance to get people to remember much about us. No company is. And so we have to be really clear on what we want them to know about us. […] Our customers want to know who is Apple and what is it that we stand for, where do we fit in this world.
(more…)

Anything you wanna ask?