Getting sand kicked in your face?Marketing is critical to your survival, and the main creation of your business is your business itself. Your business is a product or brand, and as such needs to be promoted as a brand. Do enough prospects know about you? Do they know the right things about you? Do you have a strong enough business identity that customers come to you pre-sold? Or are you suffering from intense price competition because customers see little difference between you and your competitors? But selling a commodity product and competing on price is not the route to a profitable and secure future.
The important thing is to identify or create your own competitive advantage to differentiate you clearly from competition and then build on that. Being able to prove your products and service outperform others is vital. Guarantees of longer life, proof of better performance, and tangible improvements in service give you the edge. And if you don't have a competitive advantage, you'd better create one if you want to survive. When you are building your brand keep in mind the 6 major characteristics of brands that achieve their potential:
- A quality product. Without satisfactory experience of use you are building on sand.
- Being first into the market doesn't guarantee success, but it's easier to stake a position in the customer's mind when you're the only show in town.
- A Unique Positioning Concept, like Network Veka, distinguishes you from competitors.
- A successful brand requires an effective selling, advertising or promotional campaign to communicate the brand's function and psychological values, trigger trial and purchase, and reinforce commitment. It's no good just being better - you've got to let people know you are better! Remember share of mind precedes share of market.
- Brands are not usually built quickly. It often takes years to build up the added values. Brands require investment which has to be maintained over their lives. There are no short cuts, but the rewards can be tremendous.
- Lastly market share not size is critical. Being No 1 in your local area or sector is the key to your long term profitability.
If your brand is a six stone weakling getting sand kicked in its face, perhaps it's time to think about building up your brand.