Archive for category Brand Value Proposition
A Brand Value Proposition? Why, and Who Cares?
Posted by Mike Paffenback in Brand Identity, Brand Value Proposition on August 2, 2010
Remember the old Volvo ads that harped on their cars being built around passenger safety? Back in the ’70s and ’80s it was the one thing, above all else, that Volvo wanted auto buyers to associate with their brand. It was their brand value proposition: the promise of a particular benefit — safety.
For Disney, it’s family fun. For Ritz Carlton, it’s exceptional service. For Boston Whaler, it’s unsinkable. For Levi’s, it’s ruggedly durable comfort. Nordstrom’s has VIP customer service nailed. For a Jimmy Buffett concert, it’s a care-free good time.
These brands each suggest a singular promise of a benefit that will be derived from its use. As David Aaker indicates in his must-read book on branding, Building Strong Brands, that benefit could be functional (Volvo provides a safe car because of the way it’s built), emotional (my family will be protected in a Volvo), and/or self-expressive (Volvo is a symbol of the personal value I place on safety).
To define your brand value proposition consider this: what benefit does a user receive from my brand? Make the benefit distinctive compared it to competitive alternatives, and you’re on your way to nailing down your brand position as well.
The benefit of resolving this is that you create a singular focus around which you can rally your troops, concentrate your brand messaging, and reinforce time and again through each of your audience interactions — your brand touchpoints. In that way, you’re making it easier on your customers and prospects to figure out why they should do business with you instead of someone else.
It worked for Volvo. And Disney, The Ritz, Boston Whaler, Levi’s, Nordstrom, Jimmy Buffett, and a lot of other brands, too.
It’s not easy, but there’s value to be gained. I know you care about that.
Starting a New Company = New Brand Opportunity
Posted by Mike Paffenback in Brand Identity, Brand Positioning, Brand Value Proposition on July 29, 2010
A blank slate. A fresh start. A new company. If you’re at the starting line for sure-fire success with a new venture, congratulations.
One way to pave the way for that success is to consider the kind of brand image you want to have. Do it today. Right now. Because whether you manage it now or not, the simple truth is that an image will start taking root of your company, product, and service. And unless you take control of this yourself right from the start, you might not be too happy with what that image is.
When you contemplated starting your new venture, you most likely decided what kind of company you wanted to be relative to the competitive solutions already available to your future customers. Ideally, you can identify several points of distinction between your company and your new competitors. Maybe it’s the products. Or the pricing. Or quality. Or service after the sale. Or … whatever.
Take all of this stuff rolling around in your head and spend some time writing it down for each of your brands. Then, sit back and craft a vision/values statement for each brand: the irrefutable truth about what your brand unconditionally stands for.
Next, write out your brand value proposition: the basic, functional benefits a customer will derive from using your brand; the emotional/feeling benefits a customer will derive; and, if appropriate, the self-image benefits a customer will derive. Think about the relative role your pricing will play in the benefits equation, too.
Then move on to crafting your brand position. This is what you’ll actively communicate to your prospective customers that demonstrates a distinctive and decisive advantage over your competitors.
Finally, map out the various ways you’ll likely interact with prospects and customers throughout the sales process: before, during, and after. The obvious ways, and the not-so obvious ways. Prioritize these relative to their impact on the sale or customer retention. Then, create a plan to proactively manage the delivery of these interactions — your brand touchpoints — so that they’re in sync with your brand position platform, your brand value proposition, and your brand vision statement.
If you do this, you’ll be in better control of what kind of image the public forms about your brand — because you’ve defined what you hope that image to be and you have a management plan to ensure it happens.
And a strong, positive brand image leads to a strong, positive growth chart for your business. Good luck.