Question #2: What kind of brand are you building?

This is the second follow-up to an earlier post I made before Thanksgiving.  In that earlier post, I offered three questions that you should ponder over the holiday break.  The purpose of these three questions is to help you think more strategically about your business and create a clearly articulated vision that will guide your activities going forward.  As a reminder, the three questions were:

1. What kind of business do I want to build?
2. What kind of brand do I want to have? 
3. What kind of company do I want to run? 

Why these three questions, you ask?  Because I believe these are the three most important elements of any business -- from initial conception to maturity.  Every strategy you create and every decision you make about your business will eventually boil down to one of these three questions.  They will guide everything you do, so the answers to these questions are VERY IMPORTANT  (in my humble opinion).

In my earlier post, I promised to elaborate more on how to effectively answer each of these questions.  Recently, I posted about the first question:  about your BUSINESS.  That's the first place to start.  If you haven't read it, you should.  

This post will focus on the second question:  

What kind of BRAND do you want to have?

Some would argue that this is the most important of the three questions.  While I won't go so far as to say that (because I believe that these three questions work in conjunction and are quite interdependent), I will say that it is an important enough question to make the top 3 -- that's for sure.  Hmmm...maybe I'll rethink that.  If you were to put a gun to my head and force me to choose only one of the three questions, this might be the one I choose.  Why?  Well, for those of us who believe in the power of brand equity, the answer is very clear (I have always said that I would take a great brand over a great patent any day).  For those who think that "brand" is just something soft & squishy for the "marketing people" to worry about, then this question may not make a lot of sense.  Hopefully, I can convert some of these people by the end of this post.  

Before answering this question, here are some keys to help guide you to the best answer possible:  

#1:  Think from a customer perspective

My definition of a brand is firmly rooted in customer perception.  One of the great injustices in business is the fact that you don't define your brand.  Your customers do.  Therefore, in order to answer this question about your brand, you have to think from your customer's perspective.  This little exercise will help: 

Just like how I asked you to use your imagination to answer the first question -- about your BUSINESS -- I'll ask you to do the same here.  For this question, I want to imagine that you are sitting in a coffee shop, catching up on some reading when you overhear a couple of people at the next table mention your company (or your product or your brand).  You quickly perk up and go into full eavesdropping mode.  As you listen, they start a full conversation about your brand.  You're dying to hear what they say.  But don't tell me what you think they will say today.  Tell me, instead, what you want them to say? What do you want to hear?  Think hard about this and write down everything you would like to overhear.  These comments will serve as the foundation of your answer to this question.  

#2: Think about your brand in relation to your competition

This is an easy thing to overlook when designing your brand -- it's easy to put on blinders to the world when you're consumed by your company.  But I would encourage you, when designing your brand, fully understand your competition.  If the goals for your brand are exactly like those of your competition, then you're going to have a tough time competing.  

Take a moment and go back to that coffee shop.  Now pretend that one of the people talking about your brand asks the other, "But how do they compare to [competitor's product]?"  Go through this exercise for each of the brands/products that you consider as competition.  Make sure you understand how your customers will discuss your brand in relation to your competition.  And make sure your brand goals differentiate against those competitors.  Here is a simple story from Malcolm Gladwell's book OUTLIERS which is a good example of what I am talking about.

Gladwell tells a story about Louis Borgenicht -- a Jewish immigrant in NYC in the early 1900's -- who built a successful garment business from nothing.  Here is how Louis describes his early thinking about his brand goals. 

From my study of the market, I knew that only three men were making children's dresses in 1890.  One was an East Side tailor near me, who made only to order, while the other two turned out an expensive product with which I had no desire at all to compete.  I wanted to make "popular price" stuff--wash dresses, silks, and woolens.  It was my goal to produce dresses that the great mass of the people could afford, dresses that would -- from the business angle -- sell equally well to both large and small, city and country stores....my dresses would save mothers endless work, the materials and sewing were as good and probably better than anything that could be done at home, the price was right for quick disposal.  

I love this story for it's simplicity and its focus on differentiation.  Keep this story in mind when answering this question.  

#3 -- Personify your brand

Brand personification is a good exercise for anyone designing a brand goal and identity.  I wrote a post about it a while back and you can read it here.  Long-story-short -- to personify your brand ask yourself, "If my brand were a person or character, who would it be and why?"  This exercise helps you better understand and communicate your brand.  The other thing this exercise does it help to define the feelings that your brand will elicit.  

#4 -- Make your brand mean something

All the great brands MEAN something.  They stand for something bigger than their products.  The Nike brand doesn't stand for sneakers -- it stands for winning and athletic success at the highest level.   Disney never stood for cartoons -- it stood for family entertainment.  Ben & Jerry's doesn't just stand for ice cream...you get the point.  I wrote an earlier post about this concept that you can read here.  The point is, when you think about your brand, think about what it will stand for.  If it doesn't stand for something --find something for which it will stand.  

#5 -- Use the same guidelines as with Question #1

Just like when answering the first question -- about your BUSINESS -- use these guidelines when answering this question:

1. Project a long-term goal (Think about your brand 30-years from now)
2. Be clear and concise  (Keep your answer between 1-3 sentences)

But unlike your answer to the first question, the answer to this BRAND question will NOT incorporate business terms.  

 

So, those are the major points that you should consider when answering this second question.  When you go to actually answer the question, I recommend starting your answer in one of the following ways:

1. I want my brand to be known for...
2. I want my brand to be known as...
3. When they think about my brand, I want customers to...

I want my brand to be known for creating the highest quality, most indulgent desserts in the world.  

I want my brand to be known as the one place where the average American man can find a complete, sharp, professional wardrobe without worrying about spending a fortune.

When they think about my brand, I want my customers to be think about getting the easiest photographic experience possible.  I don't want them to feel intimidated by our equipment.  I want them to feel that our products were made with them in mind.  

Again, you get the point.  

Just like with the first question, take time answering this question.  When you have something you're happy with, say it out loud a few times.  Imagine yourself repeating it in front of an auditorium filled with your customers.  Does it feel right?  Does it get you excited?  Will it get them excited?  If so, write it down and keep it on your desk.  If it feels the same then next morning when you read it, then go with it.  Post it on your wall and let it guide your brand strategy.  Nice work. 

You're getting there...more to come.  

DS