HERE’S HOW TO INVENT A MARKET FOR A BRAND

The fundamental thing in business is building brand leaders. Branding is what moves any small business into a mega-business that will outlast the business owner. The struggle continues for the business owner that does not recognize the essence of branding.

Today the discussion of branding is viewed as the most complicated area in business yet branding is the most organized way to improve your marketing and sales.
Branding is complicated because we use a mathematical approach rather than a customer’s approach to business. Branding to some people means logo, so they spend huge amount designing powerful logos and changing logotype. While some others think it is advert, so they invest heavily into advertisement.

It is important to note that people don’t buy your product because you advertise. They buy your products because it is a brand. The brand is what they take home not the product.
Many companies are being swindled into believing that building and redesigning products are what increases the profitability of the company, so they spend time at manufacturing centers.

Branding is simply leadership. A brand is a model that others look up to. A leader is a model that dictates pace. Simply put, a brand is a market leader that leads the market both in sales and profits. No business ever becomes a leader by sudden flight, they become leader by building brands.

Successful companies only spread their leadership through advertisement. You must first be a leader in a market before your advert can appeal to the prospect.
Being a leader simply tells the prospect that you are the best and can be trusted and relied upon. Remember the days when you will send a child to get you toothpaste from the store across the streets. The child more often comes back with a Mac Clean toothpaste or during the bank consolidation process, you didn’t have to tell many people before they took their money top the First Bank of Nigeria . Being first makes you a leader.

The question that pops out easily is, how then do you thrive in an industry dominated by competitors? Realize this, that in every industry, there are several markets to engage in that industry. Take for example in radio broadcasting, there are different market such as the sports market, the news market, political market, entertainment market, movie entertainment market, music entertainment market and many others. My advice to you is to find a market that differentiate you from the lot and focus on that difference.
The reason Brila FM has thrived despite it infant years in radio broadcasting is because it created a different and new market, sport radio. That’s where it’s a leader in. is it that none delivers news in Nigeria better than Channels Television? I don’t think so but people always gravitate to the company that differentiate itself and focus on that difference.

Complete sports is a leader in its market because it didn’t go the way of a general news market, it focused on sports. Yet others who entered the sports newspaper arena play second fiddle to Complete Sports in the sports market.
The most profitable businesses are the ones that created a new category of market in an over-crowded market.

You cannot be jack of all trade in business and in your industry and win customers to yourself
Freedom in business is a rare feat achieved for business owners that’s why you’ll need a RaRe Coach to achieve your business dream. Call for a RaRe Coach now. 234(0)8032729728, 234(0)8038270921 or Email: info@freedomstrategists.com

Nnanna Kalu is a licensed Business Freedom Coach of the RaRe Coaching Company, a firm that shows you the strategies for making your business work more profitably without you giving you enough time, enough energy and enough wealth to enjoy it with those that matter. He can be reached via email:nnanna@freedomstrategists.com. For more insightful articles, visit www.FreedomStrategists.com