When you are traveling, where is the first place you think of to buy a cup of coffee? Starbucks or Dunkin’ Donuts, possibly? Why do you think the majority of us thought of these two places first? Yeah… it’s branding.
When you see the Starbucks logo, you may immediately think of a pleasant experience and a tasty cup of coffee. You likely forget the price. Starbucks has strategically positioned themselves in the market as “the best coffee.” Dunkin’ Donuts has positioned themselves as “more than just donuts.” (Although the donuts are worth the trip on their own…)
Laura Lake, a marketing expert for aboutmoney.com recently wrote “…it makes sense to understand that branding is not about getting your target market to choose you over the competition, but it is about getting your prospects to see you as the only one that provides a solution to their problem.” To do this, keep these 5 things in mind:
- Make sure your brand delivers the message clearly.
Think about 1-800-Flowers. They know flowers and how to get flowers to a destination in a timely manner. Their brand is simple and straight to the point. You think of flowers, you think of them.
- Be credible.
No matter what digital devices you use, you know that Apple is a leader in the technology industry. They have built customer credibility with their support, innovative interface, and reliable schedule for releasing new tech.
- Connect with your target market emotionally.
Snickers current marketing campaign reminds us all how much it sucks to be “hangry.” They identify not only a pain point in the consumer, but the positive emotion you feel with a Snickers to fix it.
- Your brand should motivate the buyer.
Motivation to buy is often inspired by quality brands that make the customer feel confident with their purchase because it is positioned as an investment. Louis Vuitton is ranked as the tenth most valuable brand overall, and 1st in the luxury category. Not only does Louis Vuitton offer durable products but it also creates the feeling of status that both men and women feel confident displaying.
- Create loyalty with your users.
Although most brands focus on creating recognition as the top in their industry, it is important to have a plan for customer retention. Starbucks keeps customers coming back over and over with consistent experience, excellent customer service, new offerings, and numerous locations (and thus opportunities) to grab a cup o’ joe!
Next time you go to make a purchase, take a moment to think about why you selected that store or company. Remember these 5 steps, and you may never see a brand the same again.