Business Magazine

8 Lessons From The Field On Building A Premier Brand

Posted on the 15 July 2018 by Martin Zwilling @StartupPro

brandEvery new business dreams of becoming the premier brand in their space, like Starbucks is to coffee, and Apple is to consumer electronics, but they have no idea how difficult that is to achieve. In fact, only 100 of the 10,000 multimillion-dollar consumer companies around the world can claim to be an “apostle brand” – one that inspires enduring trust, loyalty, and endorsement.

One of the reasons it’s so tough is that the rules are constantly changing on what it takes to win over customers, as customer attitudes and cultures change, and competitors continually strive to “raise the bar” on product and support. I found some eye-opening insights in the classic book, “Rocket: Eight Lessons to Secure Infinite Growth,” by The Boston Consulting Group.

They outline the new rules for existing brands, but I believe that every entrepreneur who doesn’t yet have a brand yet should study these carefully, as paraphrased for startups below. It’s a lot harder to recover from brand missteps made early, than it is to get is right the first time, so build your brand strategy accordingly:

  1. Don’t ask your customers what they want next. The challenge of every startup is finding that balance between solving a real problem today, and giving customers the courage to make a leap forward. Existing customers can’t envision a new concept, or new behaviors. You have to excite their imagination, then show them the new world.

  2. Turn your biggest fans into apostle customers. Your first satisfied customers define your voice in the marketplace. They see your strengths, weaknesses, and opportunities. If you listen to them and respond, they will become your best apostles, delivering on average eight times their own value in new customers. That’s a winning growth trajectory.

  3. Always welcome a customer’s scorn as a gift. Even in a new startup organization, it’s easy to become convinced that a percentage of unhappy customers is normal. Instead of scorn and dismissal, a comprehensive and deliberate response is the key to brand growth and vitality. Without the feedback, no change in the demand space will be noted.

  4. People still judge a book by its cover. Consumers shop with their eyes, just like they eat with their eyes. Target all the senses all the time. Shame on you if you offer any product or service that is dull or unattractive. Steve Jobs was a master at this. Visual appearance and core values matter. Make your team as well as your customers proud.

  5. Transform your employees into passionate disciples. A highly motivated front line engages customers and tells your story with passion. They are your greatest resource for generating new apostles and a cultural advantage. The result is higher repeat purchases and sales without promotion. Loyalty in the ranks creates loyalty in the customer.

  6. Ramp up your virtual and real relationships. The digital age is making virtual relationships with customers indistinguishable from real relationships. It’s a lot easier and faster to grow virtual relationships, and they are both real for online purchases. Your startup needs to use blogs and social media to establish interactive relationships early.

  7. Take giant leaps rather than timid steps. It’s hard to really change the world with incremental advances and consolidation. Be clear and vibrant in your claims and in your deeds, or you will never get noticed in the flood of messages we have to deal with every day. Startups have the advantage in starting with a dream and no feet stuck in the past.

  8. Don’t ever assume that your brand is stable. All relationships are in a constant state of flux, so don’t assume your customer relationships will remain stable. At any moment, your brand will be lifted high or knocked down low by cultural changes or external events. It’s up to you to track the data, recognize a change early, and intervene proactively.


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • The Adventures of Big Beery

    Mr Litlove is a man who works in insidious ways, and so I can’t recall how he first brought up the topic of moving house. All I can remember is being in the... Read more

    3 hours, 41 minutes ago by   Litlove
    BOOKS, CULTURE
  • I Love My Mom

    I loved loved loved this video. In it, parents describe all the ways they think they have failed their children. "the I'm not a good enough parent" syndrome. Read more

    4 hours, 3 minutes ago by   Joanigeltman
    FAMILY, PARENTING
  • Indian School of Hospitality Transforms Education Standards @ISHOfficial

    Education is finding new ways. While the government is busy in bridging the gap between education and industry needs, some intelligent educational institutes... Read more

    5 hours, 5 minutes ago by   Jaideep Khanduja
    DIARIES, SELF EXPRESSION
  • Pretty as a Prayerbook

    Pretty Prayerbook

    Stolidity. Canons all across this deck are known for it. Visions of unchanging texts, however, tend to be false perceptions. Even the canon of the Bible differs... Read more

    6 hours, 51 minutes ago by   Steveawiggins
    POLITICS, RELIGION, SOCIETY
  • Advantages and Disadvantages of Incineration

    Advantages Disadvantages Incineration

    What is Incineration? Incineration is a method of waste treatment involving the burning organic materials found in waste. Incineration and other high-temperatur... Read more

    7 hours, 18 minutes ago by   Rinkesh
    ENVIRONMENT
  • Rebel ACA & French Monkey Wrench - Sunday's Cool

    Rebel French Monkey Wrench Sunday's Cool

    Fun With Song Titles!: The scene opens on an African James Bond.He stands confidently posed in front of enormous marble columns, a picture of strength living... Read more

    8 hours, 7 minutes ago by   Ripplemusic
    ENTERTAINMENT, MUSIC
  • Top 8 Places To Visit Near Mumbai In Monsoon

    Places Visit Near Mumbai Monsoon

    Mumbai rains play a magical and refreshing role in every Mumbaikars life. And to celebrate this season there are perfect companions Cutting Chai, vada pav, and... Read more

    9 hours, 37 minutes ago by   Jayshreebhagat
    HAIR & BEAUTY

Magazines