What’s Your Brand and Who Gives a Sh**?

by | Oct 21, 2019 | Marketing

So, you run a business, huh? You probably provide some sort of product or service, right? Okay. So what? Who cares? There are a lot of products and services out there to choose from; why should I give a damn about what’s your brand?

Branding and marketing have dramatically changed, but marketers are still ill-equipped and reluctant to incorporate the changes. While creativity, branding differentiation, and advertising used to rule the field, the rapid growth of companies like Amazon have made value, service, quality, and culture more important. Now, more than ever, it’s obvious that details, the execution of logistics, and operations are integral marketing opportunities.

Consider these new key perspectives: 

  • Branding is not what you tell them. Branding is what they think of you.
  • Your customers determine the value of your products—not you!
  • We all know the adage: Features tell, benefits sell. So, if this is true, why do so many entrepreneurs still focus on the features of their product or service rather than the benefits? Your prospective customers don’t care what your product or service does; they only care about what it does for them! 

No one cares about a cool logo or a fun design. No one cares about creative packaging. Consumers care about being satisfied. No one cares about your brand unless they have a good experience.

Therefore, “branding” is actually more operational. So, how do we shift our mindset from the old “traditional” way of branding and refocus on execution?

Make A Good First Impression

That first experience leaves a lasting impact. Is your store clean? Were the employees friendly? Did you have what the customer needed in stock? Is your website easy to navigate? Details matter. That’s why people hire designers to build websites and decorators to create ambiance. If a consumer’s experience wasn’t memorable in a positive way, you may have lost them. If their experience was bad, you’ve definitely lost them. What’s your brand is how they walk away feeling because that’s what they will remember.

Have a Strong Digital Presence

Nowadays, everything is digital. It doesn’t matter if your business is virtual or brick and mortar, you need to have an online presence. I’ve seen people intentionally avoid a particular store or restaurant because their website looked out of date or they had bad reviews on Yelp.

Things to consider: Is your website easy to navigate? Is your store easy to find on Google Maps? Does it even come up in a Google search? If a potential customer can’t find your store on the first try, chances are they’re giving up and going to whichever store they could find easily in their Google search.

Digital Branding needs to be comprehensive. You should have a website, social media accounts (Instagram, Facebook, Twitter), and positive reviews on sites like Yelp.

Do Not Neglect Operations and Execution

Adequate staffing, prioritizing services, and having enough supplies to meet customer needs without incurring excess expense is critical. Pizza parlors need to plan ahead for Super Bowl half-time deliveries, right? This might not be your particular problem, but every business has its own version of the “half-time rush.” If a first-time customer tries to utilize your service and is disappointed, you’ve probably lost them.

Provide Service with Integrity

Obviously, the goal is to always provide quality service the first time, but we all make mistakes. If you do mess up, own up to it and try to make it right. Many cafes offer free drink coupons when an order isn’t made correctly. Acknowledging the error and attempting to make it right can sometimes prevent a lost customer.

Brand Does Not Determine Price

Traditional pricing models no longer apply in today’s world of business. Entrepreneurs who recognize this will be better able to price their goods and services appropriately. In the past, it was thought that a well-known, desirable brand meant you could charge whatever you wanted and people would pay. Now, search engines make it incredibly easy to compare prices and analytics are showing that, in reality, a low price is more important than a brand name. In fact, there are tons of people who may want the prestige of a designer bag, but are just as happy buying a knockoff.

Effective pricing strategies vary widely depending upon a number of factors. Consider alternative pricing tactics as well as the entire pricing package. It’s also imperative to remember that pricing is dynamic. Just look at Amazon and airline companies: you can search the same product or flight two days in a row and the price may shift. Demand determines price. Some companies even brand themselves based solely on things like “the lowest price option.”

Offer Convenience

In this day and age, if you’re not providing some sort of ease of use or accessibility, you’re dead in the water. Try to offer some sort of convenience, such as easy payment plan options, delivery, or 24-hour customer service. Making your consumer’s experience efficient and convenient makes your brand “user-friendly.” And who doesn’t want to be thought of in that way?

Company Culture

This is one of the most important components of branding. Creating and maintaining a positive company culture is a critical component in achieving excellence and establishing a great brand. People remember experiences. They may not remember what they were buying, but they’ll remember the employee who was rude to them. Please and thank you always go a long way.

Your Brand is an Experience

Know your strengths. What makes you interesting and different from your competitors? This doesn’t necessarily mean “better.” Two different soaps can clean equally well and cost the same amount of money, but if one comes in fun animal shapes… that stands out. It’s different. It’s memorable.

There are people who shop at Saks Fifth Avenue, but also frequent Costco. These consumers aren’t worried about price; they’re looking for an experience—and they will receive a very different one at each location, but both will be satisfactory and in alignment with their desires. People enjoy shopping on Amazon because they like the experience of purchasing items from home, in their sweats. Successful brands have clear, distinct experiences.

So, what makes your brand unique? What experience are you providing? And why should anyone give a sh** about what you’re offering? We’d love to hear your feedback in the comments below!

Contact us at: Bshlensky@startupconnection.net  or 914-632-6977

A customized approach that caters to each of his clients’ specific needs is what sets Dr. Bert Shlensky apart. With a PhD from the Sloan School of Management at M.I.T., he focuses on implementing individualized strategies that have helped countless businesses increase sales and profit. He knows what works and has the experience and expertise to help you take the steps necessary to achieve your business goals.

Branding is More than Marketing

by | Jun 21, 2018 | Marketing

Some Simple Suggestions to Improve Branding

The potential and strategies of branding are critical today, yet the practices and requirements are dramatically changing. In particular, branding is still dominated by marketing, differentiation, and promotion activities. Right now, technology, customer needs, and operations are becoming vital components of the branding process.

In particular, I argue that many branding experts focus too much effort on packaging, advertising, logos, and copy. At the same time, they often ignore issues like value, service, quality, culture, and our digital environment. If you don’t believe that, just compare the focus of many brands on department stores versus places like Amazon and Costco.

Here are some ways to improve branding:

1. Digital Branding

Brand management frequently does not pay enough attention to the digital world. Branding efforts need to be comprehensive, so it is good to support your efforts with a web site, social media, brochures, etc.

Automation, efficiency, and digital solutions have also allowed us your focus on solutions rather than just meeting customer’s needs. Market the real product your customer wants to buy. For example, the same customer may want the prestige of a designer purse name, and then buy generic labels at the grocery store to save money.

2. Operations

Service, image, and culture are frequently the biggest (and often least expensive) opportunities for small companies to develop a brand and differentiate themselves. Some suggestions:

  • Focus on your target market, segment, and your ideal customer.
  • Be polite, listen and then act based on what you have learned.
  • Become a trusted resource to your prospects by providing information that will help them make a good choice.
  • Build an email list and send informative mailings on a regular basis.
  • Keep in touch with potential customers and existing customers.

3. Quality

Quality needs to vary by customer and need. Let’s face it: IKEA makes great utilitarian, well-priced, and good-looking furniture for many young people. However, it really isn’t made to last a lifetime. Other products (like pizza) probably have more variance in the perceptions of the consumer than in the actual quality of the ingredients.

4. Convenience

In this day and age, if you’re not offering some sort of ease of use or accessibility, you’re dead in the water. So, try and angle your brand to offer some sort of convenience, such as easy payment, delivery, and contact (24 hour customer service). These are just some options for offering efficiency to your customer in some way.

5. Value

It’s one thing to nab the customer…. But to keep them coming back? That’s the golden ticket. Your product or service can’t be just a one-time thing. It has to be a many-time thing! It’s called customer retention – keep them coming back, and you’ve got guaranteed revenue.

Remember that value can vary, and it often depends on the situation and the perceptions. For example, Nieman Marcus, Costco, and Amazon all offer quite different products, but since they have quite effective value, many customers shop at all three retailers. As an aside, I love the free samples at Costco.

6. Company Culture

In researching this blog, I searched branding on Google. The articles barely mentioned culture (if at all), which I consider to be one of the most important components of branding. Creating and maintaining a positive company culture is a critical component in achieving excellence and establishing a great brand. A great strategy, without a supportive culture, will undoubtedly fail… I’ve seen it happen too many times.

Setting the right expectations, providing support, and accepting responsibility as a leader are all non-negotiable aspects of nurturing the culture in your company. In addition, you must never cease to measure what seems unquantifiable (in order to consider your attempts at creating a successful company culture).

There is no better example of this than the Golden State Warriors, who just won their third NBA title in four years. Much of the attention is given to their super stars, but if you look behind that, you see how the entire organization (including the training staff, coaching staff, medical staff) are all united to create excellence and a unified brand.

In summary, branding and differentiation are two of the key areas required to bring even the greatest new products and services to market. These two strategies are linked and are primarily a function of ensuring that your product or service meets the needs of your consumer.

As one expert said “We all know the adage…. features tell, benefits sell.” If this is true, why do so many entrepreneurs still speak in terms of the features of their product or service and not its benefits? Your prospective customers does not care what your product or service does… they only care about what it does for THEM!

Ready to achieve success by improving your company culture? Contact us today.

Dr. Bert Shlensky, president of Startup Connection (www.startupconection.net) has an MBA and PhD from the Sloan School of Management at M.I.T. He served as the President of WestPoint Pepperell’s apparel fabrics business and President and CEO of Sure Fit Products. Having provided counseling to over 2,000 clients, he now focuses on working with select startup and small businesses.

How to Write a Winning Elevator Speech

by | May 11, 2018 | Marketing

OVERVIEW

how to write a sales pitch (or elevator speech)At Startup Connection, we believe that the skill of communicating passion for your business — in the form of a refined “elevator speech” or mission statement — is a pure necessity to your success.

Mark Twain is often credited with saying, “I would have written a shorter story, but I didn’t have the time.” These days, we refer to a very short synopsis of your business as an “elevator speech,” and in this article, we’ll call it “the sales pitch.” A sales pitch is a concise, carefully planned, and well-practiced description of your company that anyone should be able to understand in 60 seconds or less. Learning how to give a great sales pitch is a valuable way to share your message. It is also a great way to truly refine the essence of your company’s vision and plan. On one hand, starting the sales pitch is not easy, and it requires some effort and practice. On the other hand, the process should be made as simple as possible.

One of the best strategies we suggest is to start with taking less than one hour to write a first version. Focus on your idea, passion and emotion in this draft. Don’t worry about content, format, or style… we can help you fix all that later.

The sales pitch is as essential as your business card, and you have about one paragraph to get the attention of your audience. You need to clearly and rapidly be able to communicate who you are, what you do, and how you can help your listeners.

Before you can convince anyone of your business proposition, YOU need to know exactly what that business proposition is! You need to define precisely what you are offering, what problems you can solve, and what benefits you bring to prospective customers or clients.

Specifically, the sales pitch answers some of the following questions:

  1. Who are you and who is your company? For example, “My name is Jim Cando and my company are Cando Widgets.”
  2. What are your key products or services, and what are their strengths? “We make awesome widgets that are guaranteed to make you healthier, richer, and happier. Our widgets are made with 100% healthy ingredients, cost less, and are easy to use.”
  3. What adjectives come to mind to describe your company? Avoid common words like better, bigger, and well made. Instead, think of emotional terms like indestructible, exciting, or scrumptious.
  4. Who is your target market? Be specific in terms of age, lifestyle, location, and income. “We target millennial men who work out and are looking for a shirt that fits”.
  5. What problem do you help customers solve? Talk about benefits instead of just descriptions. Examples of benefit statements include: “We help you save time and money,” “We make what is usually a horrible experience into something satisfying and exciting,” or “We understand our customers, and ensure that they have the best product selection.”
  6. What is your business model and strategy? For example, “We are a home service company. Our goal is to develop a base business of 500 customers and $1 million in revenues, and then to grow 10 to 20% per year. We plan to spend 15 to 20% of our sales on internet marketing, materials demonstrations, and exceptional customer service. Our profitability is derived from our low overhead, competitive margins, and growing brand.”
  7. Who is your competition and how are you better? For example, “Our competition is anyone who sells widgets. We offer the right product at the right price, with great customer service and product selection. We save customers money by helping them purchase the most effective product (rather than the cheapest or one with the most bells and whistles) based on what they need.”

Your challenge is to deliver a great pitch that will make someone want to know a whole lot more about your business.

WORKSHEET

Basic Elements of a Good Elevator Speech

Once you have developed a good sales pitch, you will be amazed at how handy it is, and how often you use it in a variety of settings. To be sure your pitch is top-notch, here is a checklist of important elements to consider:

  • A “Hook”: Start with a hook, a statement or question that piques interest and makes the listener want to hear more. A hook can be a surprising or amazing fact. For example, if you were marketing a product geared towards entrepreneurs, you might start with “More than one out of every two Americans works for or owns a small business.”
  • Length: Your pitch should be less than 60 seconds. If your sales pitch runs on for too long, you risk losing the interest of your listener. Get to the point you are trying to make, and explain why it will benefit your target audience.
  • Passion: Listeners will expect energy and dedication in your speech. If you aren’t excited about your idea, why should the listener be? Why is this idea exciting, and how will it benefit your target audience? This must be conveyed in your sales pitch.
  • A Request: At the end of your pitch, you must ask for something. Are you looking for capital? Strategic partners? New markets? Use the fact that you are with the customer to your advantage – ask them to take advantage of this opportunity and close the deal on the spot. Always establish a follow up question, in case your target is unable to commit outright.
  • Practice: Be sure to spend time developing, practicing and testing your pitch. Create short videos of your pitch and critically review your presentation. It is imperative that you convey confidence in your product, and how it will benefit the customer.

Think about your ideas and call me for some free mentoring. I know it is not easy, but the more you work on defining your business, the more comfortable you will become. Call today at: (914) 632-6977.

Dr. Bert Shlensky, president of Startup Connection ( www.startupconection.net ) has an MBA and PhD from the Sloan School of Management at MIT.   He served as the president of West Point Pepperell’s apparel fabrics business & President and CEO of Sure Fit Products. Having provided counseling to over 2,000 clients, he focuses on working with select start-up companies and small businesses. Call today for a free consultation, so we can use our business plan templates to take your business to the next level.

The Holy Trinity of Brand Development: Features, Benefits, and Advantages

by | Aug 25, 2017 | Planning

Say what you want about trademarks and logos. They have their place. But if you’re really looking for brand development, making sure it’s successful in the market you’re targeting, there are three aspects you have to focus on the most:

You Simply Ask Yourself These Three Questions About Brand Development: What Are the FEATURES, What Are the BENEFITS, and What Are the ADVANTAGES?

Real quick, if you don’t know the answers to those questions, simply start researching. Get them. Withoutbrand development-1 them, your brand isn’t a brand. But just a name. And there are a lot of names out there!

The thing is when you’re building your brand, educating your consumer base about the “holy trinity” does a few things — it lets your customers know what the product/service is, why it’s great, and why it’s better than the rest of the competition. We’re talking about a 1-2-3 combo, and if you were a boxer, that’s a knockdown on the 3rd round for the championship belt without breaking a sweat! You’re, of course, asking just why these three together make so much of a difference in your brand development.

  • Features — The “features” of your product and service happen to be exactly what it is. The specs. What your product/service does and provides. This is the nuts and bolts. The basic understanding. After all, customers may know what a fork does, but they had to have that explained to them when the fork was first introduced into the consumer market, right? These days, though, features don’t come across as that simple, hence why aspects like warranties, ease of use and distribution return privileges (the added “features”) make a difference as well.
  • Benefits — Here’s where we get a little tricky. The benefits are like the “features” except now we’re going above and beyond what the product/service does. Why does it do what it does? That’s the question. We now know what a fork does. But why do we need one? To effectively eat our chicken Caesar salad, of course, without any of the lettuce falling off! Now that’s a benefit. But it’s only a benefit if the customer believes he/she needs it and sees it as valuable.
  • Advantages — And, of course, lastly, it’s pretty obvious why a fork would be better than, say, a SPOON when eating chicken Caesar salad. This is where you have to explain what the advantages are. Target your competition. Set yourself apart. Sure, the spoon’s great for cereal, but when was the last time you successfully ate a salad with a ladle? These days selling the advantages of a product or service has been getting much more cutthroat and vicious with the shorter attention spans and seamless Internet communication capability.

Hence why more now than ever we focus on these three even heavier than before as part of branding. Packaging your product/service in this way along with that name and logo gets you started on the right foot. Plain and simple.

Now Get Started With Your Brand, Ring the Bell, and Make It Happen

Of course, I can help you with everything you need in propelling your small business, all the nuts and bolts. But you need the vehicle first. Here are the parts. Start building. And I’ll see you soon.

Dr. Bert Shlensky, President of The Startup Connection, directs all small business clients toward maximum sales and profit thanks to his 40 years of high-quality experience. He does this through technological, social, and online integration, supercharging your business success into the next level, so don’t hesitate to sign up for a free consultation RIGHT NOW.