No matter what market you do business in, for your brand to succeed you must achieve differentiation. It’s the starting point to every great brand. After all, if your product or service is not different, what are you? You can only be similar, and consumers will assess your product or service on price alone.Peter Engelhardt
In this episode of the SMART-Connect Podcast Show SMART-Connect best practice brand strategy advisor Peter Engelhardt explains…
- One of the key reasons more than 60% of businesses close their doors within the first three years of business.
- The single most important factor that prevents every business from becoming a great brand (or a Fortune 500 company).
- The seven steps that will help you identify a meaningful and differentiated position in your market so you can begin to transform your business into an industry-leading brand.
- The immediate, near-term and long-term benefits your business will experience when you begin thinking like a brand, and not just running a business.
Associated Best Practice Benchmarking Statements
BEST PRACTICE BENCHMARK: We have a clearly defined differentiated market position that sets our business apart from our competitors and this is clearly reflected in all our branding and communication material. #branding #marketing
For 25 years+ I have been a design and marketing consultant, leading a traditional agency through the economic and technological challenges the past few decades have confronted us with. My move towards the digital side of the industry began some time around 1999 - 2000. Witnessing the degree to which the internet reshaped our industry led me to shift over time and focus on helping business & corporations to strip away the hype surrounding new media and focus on strategic planning and design that attracts.
Today you would have to say that I’m 100% fixated by differentiation. Why? Because all of the great brands that we love succeed by finding a unique position in the marketplace, and we believe small and medium sized businesses can too. So we’ve made it our mission to help passionate entrepreneurs and business creators make the transformation from a business, to brand of choice, through the power of education, strategic design and branding that connects.
Instead of merely helping my clients attract attention, I focus on helping them find their point of difference and the values their prospects will respect, so the resulting designs and branding reflect what’s meaningful to the them.
Too many companies are drawn to social media as “the answer”, but without a strategy of any kind, they actually don’t have anything worth saying or sharing. For many companies, social media simply relays faster, with greater efficiency, and to more people than ever in history, that their brand lacks depth and meaning.
By thinking strategically, making real observations and planning, anybody can build a brand that stands out (and not blend in). Having nothing to say and no distinct way of conveying your difference and value will only result in your messaging using cliches, which means you're promoting your category, not your brand.
Ready to start building a best practice business?
About the SMART-Connect Podcast Show
The SMART-Connect Podcast is one of the ways that SMART-Connect Alliance business advisors and business specialists share key information, business insights, strategies and case studies with their clients and alliance partners, ensuring they are kept up to date with important news, ideas, risks and opportunities that can impact their business.