Think of your brand as a promise … a promise you make to your clients, prospects, employees, and even your vendors. But before you make that promise, be sure you never forget this fact. It is imperative that you are able to back it up. You cannot build a successful, long-term brand on unsupported claims and wishful thinking. History is littered with companies — big and small — that have promoted themselves or their products as something they would like to have lived up to but could not.

To separate you from your competition, your brand — your promise — has to differentiate you from others in the minds of your prospects. This is the reason you cannot use quality, integrity, or price when positioning yourself in your marketplace. So many companies claim to offer these particular characteristics that none of them stand out from the others. BMW has taken note of this. Although it is thought by many to be the best car made, the company has built its brand as “a driving machine.” It sells the experience. BMW knows that there are other high quality cars on the market, so a brand built on quality would be diluted and therefore, less profitable.

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But, there are some branding constants that will remain critical for establishing and maintaining brand awareness with your target audience. Regardless of the medium chosen for distribution, you must:

• Ensure your brand promise is clear. Be simple, be direct, and by all means, be consistent.
• Focus on creating a well-conceived brand name. Even the cleverest branding strategy will fall flat if the name you seek to brand is poorly conceived.
• Understand the competition. No one operates in a vacuum. While originality is important, it’s critical to be aware of your competitors’ branding strategies.
• Set branding goals. You can’t very well determine your success if you don’t have a benchmark against which to measure it. Know where you want to go and when you want to get there.
• Remain committed yet flexible. Branding success doesn’t occur overnight; it takes commitment to maintain focus and build loyalty. But that doesn’t mean strategy changes might not be necessary along the way, so be open to tweaking your approach as necessary.

Read more in the Entrepreneur.com article Branding Trends: Delivery Channels Take the Lead

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While the summed importance of branding (of the carrier and the phone) in purchasing decision seems to remain constant at a total of 59% it is worth noticing that 19 percent of customers cite the type or brand of cell phone as a key factor during the initial process of selecting a wireless service, up from 11 percent in 2004. While the brand of wireless provider is still the most popular reason influencing the initial selection process, it has decreased significantly in importance, down 8 percentage points from 2004 to 40 percent in 2006.

Other key factors that influence the initial selection process are price/promotion (29%) and retail location (12%).

While this strategy is adopted due to high competition in the field, I honestly don’t find it sustainable on the long term because promoting the cell phone instead of the service plan and the carrier that provides that service may lead to sales growth in the short term, but it can potentially have a negative long term impact with higher churn rates.

The study actually shows this. As such, among customers who are most influenced by the cell phone brand, the likelihood of switching carriers in the next 12-month period is 60 percent higher than among customers who cite the brand of the wireless provider as their key factor in the selection process.

On the other hand study shows that among major wireless carrier-owned retail stores, T-Mobile ranks highest in customer satisfaction for a fourth consecutive reporting period. T-Mobile receives particularly high ratings in all four factors that determine overall satisfaction. T-Mobile is followed in the rankings by Verizon Wireless and Alltel, respectively.

Volume 2 of the 2006 Wireless Retail Sales Satisfaction Study is based on experiences reported by 7,530 wireless users who completed a retail sales transaction within six months prior to being surveyed. The results are from the two most recent reporting waves, which were conducted in April and July 2006. More about the study here.

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The strategy is set. You clearly know who you are, you’ve decided on your brand difference, you’ve found folks who want what you have, and you’ve mapped out the great experience you will deliver. Now you must employ the big brand bang and let your message resonate through every point of market contact.

The next step in building your brand is tactical. What specific weapons are you going to launch, at whom, and with what frequency? How will you be heard, noticed, and remembered in a crowded, chaotic playing field, possibly working with less money than your competitors? I refer to this engine as ‘‘speaking loudly even when you whisper,’’ by which I mean making sure that even your smallest effort is on target, relevant, and working to build the brand.

Tactic 1: Visual Identity

The footprint of a brand—your corporate identity, graphic system, or visual voice—can take your brand many good places. It can also head you straight into a wall if it does not accurately project what the brand is and consistently stick to the story.

Tactic 2: Advertising

Advertising can be used to generate leads, sell product, advocate beliefs, persuade, calm unrest, and build brands. Advertising is the act of paying to showcase a message, and more. Advertising gives the brand builder a high-speed lane to the market. On the other hand, it is not immune to falling trees, lightning, bad weather, careless drivers, or an occasional competitor with wings. Smart advertising can fertilize the brand soil and aid in the brand’s growth.

Tactic 3: Brand Partnerships

Sometimes two brands are better than one. Collaboration with other brands, vendors, and distribution channels not only adds firepower and reduces costs, but it ultimately can strengthen a brand.

Partnerships can be as simple as two brands co-hosting an event or as formal as an agreement involving new selling channels, co-op ad spending, joint research, and licensing contracts. When choosing any brand partner, you should adhere to an established set of guidelines that complement your brand and meet business goals.

Tactic 4: Media Relations

Twenty-four-hour news, free-flowing information, and breaking reports offer vast opportunities to get your brand message out with an added layer of authority and third-party endorsement. Despite the cynics, the media has immense influence on the market.

Organizations that don’t take full advantage of this powerful vehicle will miss sales, stature, and a substantial brand bang.

Tactic 5: Community Relations

Community relations encompasses any niche community where having a strong positive relationship is important and valuable to the brand and the market you serve. For many organizations, this includes your category industry and nonprofit interests.

Tactic 6: Sales Promotions/Events

Promotions are any activities that stimulate purchasing. Promotions can work well in both consumer markets and the business-to-business space if planned and executed correctly. A great sales promotion can launch new products, reintroduce new and improved ones, clean out an old line or inventory, synergize co-brands, cross-sell among product lines, arouse loyalty, and entice first-time sampling or trial purchases.

Tactic 7: Customer Service

Serving customers seems like a simple task, yet many savvy business leaders are blind to the huge service cracks in their business. A crack in service is extremely dangerous. One too many rude encounters, another insensitive act, or a downright bitter battle, and your customer will not only make you history, but his rage can spread like wildfire and burn up even the best brand.

Tactic 8: Sales

Selling with brand in hand shortens the distance to the finish line. Selling today is no cakewalk. New products, trillions of choices, and floods of options surround us. Pressure is high, competition is everywhere, and the economy is faltering. So what. Quit your whining. Add some brand to your sales arsenal, and the process gets easier and more effective.

Tactic 9: The Environment and Merchandising

Visual seduction is not just for retailers. Merchandising and environmental branding needs more respect. Once thought of as merely decorative displays or point-of-purchase sale stimulators, today merchandising and the environment are a significant brand-building tactic.

Tactic 10: Online

Building a brand, one thousand clicks at a time: Online technology has catapulted the brand like no other tactic. The impact on all business sectors and models is immense. Small companies can be global. Virtual stores can operate without inventory. Time to market is condensed to a warp speed, and the customer has more options and choices than ever before. As with every new horizon, there lie vast opportunities and difficult challenges

Tactic 11: Alternative and Buzz Activities

Guerrilla or alternative marketing has no rules. The more you can get away with, the better. Such campaigns are nontraditional. They disrupt and surprise. They can be crazy, irreverent, or bizarre, and many times they are extremely potent and effective for a lot less money than the ordinary campaigns

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Brand value is calculated as the net present value of the earnings the brand is expected to generate and secure in the future for the time frame from July 1, 2005 to June 30, 2006. To be considered the brands must have a minimum brand value of US$2.7 billion, achieve about one third of their earnings outside of their home country, have publicly available marketing and financial data, and have a wider public profile beyond their direct customer base.

Here is the list with 2006 top 10 standings:
Rank Brand Brand Value ($m)
1(1) Coca-Cola 67,000
2(2) Microsoft 56,927
3(3) IBM 56,201
4(4) GE 48,907
5(5) Intel 32,319
6(6) Nokia 30,131
7(9) Toyota 27,941
8(7) Disney 27,848
9(8) McDonald’s 27,501
10(11)Mercedes 21,795

Top Gainers
The top gainer with a brand value increase of 46%, Google (#24) creates growth under with the strategy of “do no evil” positioning itself at the opposite end of the spectrum from the more corporate Microsoft. Overall growth of Internet commerce has perpetuated consumers’ acceptance of purchasing goods and services online enabling eBay (#47) to skyrocket in value up 18% and the third highest gainer this year.

In the second spot with a value increase of 20%, Starbucks (#91) has found financial success by leveraging the brand with a premium fast food and extending its product offering into music and publishing.

Top Decliners
The growth of mass retailers has taken market share from traditional apparel brands such as Gap (#52). Losing the most brand value with a decline of -22%, Gap has been unable to clarify its brand image and with a less distinct positioning the brand has been less effective at selling clothing causing reduced long-term stability.

Ford (#30) continues to lose money on every car sold – and brand value year after year. Down -16% this year, Ford’s American heritage is an insufficient brand attribute to hold off growing competition from Japanese and German automakers.

Down -12% this year, Kodak (#70) has made valiant strides to catch up with the digital world, however the reality is that competition is fierce and profitability is thin compared to Kodak’s film business and thus the brand’s value continues to decline.

Last year Best Global Brands by Value for 2005

Further readings on this:
Interbrand’s press release

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Getting a professionally designed custom logo and an easy to remember punch line are some of the very important elements of branding a business. A logo is not just a symbol or a piece of graphics; it is actually your corporate identity. A properly designed logo can leave long lasting impression on your clients and will never let your business slip out of their minds.

So, if you think you are tired of being a “small business” and its time to grow up, take the first step; establish your brand!

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1. Quality positioning
2. Value positioning
3. Feature-driven positioning
4. Relational positioning
5. Aspiration positioning
6. Problem/solution positioning
7. Rivalry-based positioning
8. Warm and fuzzy positioning
9. Benefit-driven positioning

Positioning is an act of seeking, placing and optimizing something in relation to the competition in surrounding environment and is based on customer-company-competitor relationship triangle. In order to move up the ladder in the customer mind, management must follow the rules of positioning. Basic qualities of brand positioning include:

Relevance: Positioning of brand must focus on benefits that are important to people or reflect the character of the product.

Clarity: Brand should be positioned in such a way that it is easy to communicate and quick to comprehend.

Distinctiveness: In current market situation there are reasonably good number of players vying for a share in the market, forcing them to compete on the basis of price or promotion. To overcome such a situation, company needs to offer distinctiveness in its products or services.

Coherence: A brand should speak with one voice through all the elements of the marketing mix.

Commitment: Management should be committed to the position it has adopted. Once a position is adopted, it takes commitment to see it through.

Patience: Patience plays an important role in the success of brand as branding is not a one-day wonder – it takes years to position a brand in consumers’ mind.

Courage: Adopting a strong brand position requires courage as it is much easier to defend an appeal rather than generate sales pitch.

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1. An emphasis on “engagement.”
Inserting itself between traditional marketing activities and an increasing demand for return on investment assessments, engagement will become the Holy Grail for marketers and advertisers. Defined as the outcome of ad and marketing activities that substantively increases a brand’s strength in the eyes of the consumers, engagement will be used more and more to allocate marketing budgets.

2. Using technology to better meet consumer expectations.
Consumer expectations in all categories will continue to grow. Expectations have increased more than 26% in the past five years while brands have kept up with these expectations by only 8%! Watch for smart marketers to take advantage of unfulfilled expectations via such values as “convenience” and “customization.” More and more marketers will rely upon Web sites and high-tech capabilities to accommodate these values and differentiate themselves from the competition. Professional services and other non-traditional brands will probably take advantage of the new technologies and start build up brands for themselves.

3. Expanding the potential of Websites and blogs
Engagement concerns and attempts to meet or exceed customer expectations will fuse and be most observed online, particularly on blogs. Watch for increased development of blogs and Websites in general beyond propaganda, information, and use as an electronic cash register toward the creation of “communities of ones.”

4. “Recombinant” experiences.
Disney and Vegas: Oil and water? Consumer values indicate a bipolar continuum for recombinant experiences. Watch for this to reveal itself in more online gaming, especially for adults. Interactive gaming with more and more players being able to compete at once will become table stakes for online games. Marketers concerned with engagement will close their eyes to “appropriateness” and leverage online gaming as a more acceptable venue for virtually every brand.

5. More branded entertainment.
Popular culture, with its rabid consumption of music and technology, will see market and brand leaders leverage plugging-in as a method for customizing entertainment and selling products. For instance, music-related paraphernalia such as T-shirts, posters, and artist-related merchandise will infringe more and more on the dominance of bricks-and mortar retail.

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Appearance – Simply how the name looks as a visual signifier, in a logo, an ad, on a billboard, etc.

Distinctive – How differentiated is a given name from its competition. Being distinctive is only one element that goes into making a name memorable, but it is a required element, since if a name is not distinct from a sea of similar names it will not be memorable.

Depth – Layer upon layer of meaning and association. Names with great depth never reveal all they have to offer all at once, but keep surprising you with new ideas.

Energy – How vital and full of life is the name? Does it have buzz? Can it carry an ad campaign on its shoulders?

Humanity – A measure of a name’s warmth, its “humanness,” as opposed to names that are cold, clinical, unemotional. Another – though not foolproof – way to think about this category is to imagine each of the names as a nickname for one of your children.

Positioning – How relevant the name is to the positioning of the product or company being named, the service offered, or to the industry served.

Sound – Again, while always existing in a context of some sort or another, the name will be heard, in radio or television commercials, being presented at a trade show, or simply being discussed in a cocktail party conversation.

“33″ – The force of brand magic, and the word-of-mouth buzz that a name is likely to generate. Refers to the mysterious “33″ printed on the back of Rolling Rock beer bottles for decades that everybody talks about because nobody is really sure what it means. “33″ is that certain something that makes people lean forward and want to learn more about a brand, and to want to share the brand with others. The “33″ angle is different for each name.

Trademark – As in the ugly, meat hook reality of trademark availability. All of the names on this list have been prescreened by a trademarked attorney and have been deemed “likely” for trademark registration.

Read more about it here

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How do I want consumers to view my company? – Is the identity you want to portray friendly and personable? Professional? Efficient? Creative? Innovative? Appropriate for your target market? To begin choosing your branding direction, it may be helpful to write a list of characteristics that people would ideally use when describing your business. Identify the words you want consumers to recall when your business comes to mind.

Who are my customers and how does my product or service address their needs? – You need a strong understanding of your customer base to create an effective branding strategy. The idea of branding is to tell a consumer in as few words as possible how you will fulfill their needs. Knowing their needs is the first part, and communicating how you intend to fulfill those needs is the second.

Who are my competitors and why is my product or service better? – Sometimes looking at the competition can give you food for thought. You can see what is working for them and what is not working, and keep that information in mind as you create your own brand. Study people’s perceptions of other businesses. Use your personal experience as a consumer to guide you. Emphasize what is unique about your business that makes it a better choice than the competition.

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