Do you really think Dunkin' Donuts has the best coffee?
I'm not a coffee drinker so maybe I'm not an authority but let's go ahead and take up the debate -- is Dunkin' Donuts coffee really the best coffee? Or, did Dunkin' Donuts create an image, a brand, as THE best coffee? Did they see a market of coffee drinkers who would pay $5 for a 50ยข cup of coffee and then offered the same experience to this audience at a mere $2.50? Do you think that's what got coffee drinkers to flock to the donut shop and declare its brew the best?
Branding has a lot of power. It'll make you open your wallet -- wide -- and it'll make you go out of your way to insist on that brand. So, how do you do it?
First think you have to do is KNOW WHO YOU ARE. Dunkin' Donuts took a look at their SWOT and you know what they found? No one buys donuts much past noon on any given day. So maybe they added sandwiches and ice cream to their stores. Hmmm... still just moving the regulars around the clock, not really driving in new customers. Then, imagine in their strengths, they noticed that hey, our coffee's not all that bad. Perhaps under opportunities, they said, wow, coffee drinkers are spending millions at boutique and franchise coffee shops. We could do that!
But instead of jumping into the pot with perhaps a cheaper latte, they said, let's tell people that we have the best coffee. Not cheaper, not better. The best.
So who are you? What is it you do better than your competitors? Why should someone go out of their way to buy from you and you only?
While the economy RIGHT NOW dictates lower price is the winner, is this a winning strategy for you, long term?
Base your BRAND on tangible differences, not just price. What is it about your company, your brand, that makes you the better choice for whatever it is your sell?
Spend some time creating your BRANDING PROMISES. This should be 5-7 statements about your company, product or service that sums up everything you do. These branding promises then dictate every ad, tweet, post, email, presentation, RFP, etc. You must live these branding promises and so must every employee, from the intern to the president.
Do you want to be the best in your industry? Maybe you already are. Now it's time to tell someone.
Branding has a lot of power. It'll make you open your wallet -- wide -- and it'll make you go out of your way to insist on that brand. So, how do you do it?
First think you have to do is KNOW WHO YOU ARE. Dunkin' Donuts took a look at their SWOT and you know what they found? No one buys donuts much past noon on any given day. So maybe they added sandwiches and ice cream to their stores. Hmmm... still just moving the regulars around the clock, not really driving in new customers. Then, imagine in their strengths, they noticed that hey, our coffee's not all that bad. Perhaps under opportunities, they said, wow, coffee drinkers are spending millions at boutique and franchise coffee shops. We could do that!
But instead of jumping into the pot with perhaps a cheaper latte, they said, let's tell people that we have the best coffee. Not cheaper, not better. The best.
So who are you? What is it you do better than your competitors? Why should someone go out of their way to buy from you and you only?
While the economy RIGHT NOW dictates lower price is the winner, is this a winning strategy for you, long term?
Base your BRAND on tangible differences, not just price. What is it about your company, your brand, that makes you the better choice for whatever it is your sell?
Spend some time creating your BRANDING PROMISES. This should be 5-7 statements about your company, product or service that sums up everything you do. These branding promises then dictate every ad, tweet, post, email, presentation, RFP, etc. You must live these branding promises and so must every employee, from the intern to the president.
Do you want to be the best in your industry? Maybe you already are. Now it's time to tell someone.
Labels: branding, marketing, public relations
posted by Jan at
10:08 AM
