Great Brands Transcends Products
Persuading people to buy your products is an effective strategy…until it isn’t.
No manufacturer (or marketer) plans for brand decline, but the reality is markets mature and change, and product differentiation becomes less effective over time.
One thing you can (and should) plan and budget for is consumer research. If you are struggling to scale your product or service, you may need to better understand the needs and wants of your customer. Doing the work upfront, intentionally asking the questions, and deeply listening to your customers will better position your company to create and support a healthier, more transparent, and authentic brand.
Why Brands Outlive Products
Great brands outlive products because they connect with customers on an emotional level. While products satisfy a need, brands provide a sense of belonging or purpose. Research from Harvard Business School highlights that 95% of purchasing decisions are influenced by emotions. Successful companies invest in understanding these emotions to craft meaningful connections.
Introducing the Value Proposition…
Branding is the way you present your value proposition to your customers. A value proposition is a promise of value that your product will deliver. To differentiate your product from the competition, you must first transform it from a physical object into a mental construct.
In other words, flip the narrative from “what” to “why.” We must never lose sight of the fact that brands exist in the hearts and minds of our consumers.
It is not a list, a chart, or a word cloud. It is a clear articulation of what makes you the leader in your field and untouchable by your competition.
The Three Pillars of a Value Proposition
- Relevance (solves a problem or improves a situation)
- Value (delivers benefits)
- Dominance (why you and not your competitor)
Staying Relevant Through Constant Evolution
For future success, it is crucial that we begin with and continue to conduct ongoing research, rapid branding, quick prototyping, and easy-to-understand messaging. Not only will your future customers reward you, but your future P&L will also be in the black!
Brands like Apple and Nike thrive because they evolve. They adapt to consumer needs while staying true to their core values. As Jeff Bezos says, “Your brand is what other people say about you when you’re not in the room.”
Understanding this makes brand-building not just a task but a continuous journey.
