Increasingly, the business world is
competitive. It evolves daily with innovations, challenges and new trends. An effective brand strategy gives you a major
edge in increasingly competitive markets. But what exactly does
“branding” mean? Succinctly put, your brand is your promise to your clients.
competitive. It evolves daily with innovations, challenges and new trends. An effective brand strategy gives you a major
edge in increasingly competitive markets. But what exactly does
“branding” mean? Succinctly put, your brand is your promise to your clients.
It clearly shows them what they should expect from your products and services
and such differentiates your offering from the crowd or competitors. Your brand
is derived from who you are, who you want to be and who people perceive you to
be. Your brand strategy is how, what, where, when and to whom you plan
on communicating and delivering on your brand messages. Where you advertise is
part of your brand strategy. Your distribution channels are also part of your
brand strategy. In fact, everything is about your brand strategy, certainly.
Consistent, strategic branding leads to a strong brand equity,
which means the added value brought to your company’s products or services that
allows you to charge more for your brand than what identical, unbranded
products command.
which means the added value brought to your company’s products or services that
allows you to charge more for your brand than what identical, unbranded
products command.
In the 21st century business world, entrepreneurs’
need to build strategic brands that would transcend to the future. There are
basic fundamentals SME, corporate and evolving organisations should have in
mind in building an enduring brand.
need to build strategic brands that would transcend to the future. There are
basic fundamentals SME, corporate and evolving organisations should have in
mind in building an enduring brand.
Without these foundations, one cannot successfully build an
enduring brand. The truth is when the fundamentals fail, the brand
suffers. A brand is built on foundation
of these fundamentals.
enduring brand. The truth is when the fundamentals fail, the brand
suffers. A brand is built on foundation
of these fundamentals.
1. DEFINATE VISION:
An
enduring brand must have a definite vision. A vision is an expression of
corporate ambition. Vision is an aspiration
or description of what
an organization would
like to achieve or accomplish in
the mid-term or long-term future.
It is intended to serve as
a clear guide for choosing current and
future decisions. Therefore, every brand as a matter of foundation should have
its vision well defined from the inception. It will birth corporate values, ethos
and beliefs.
An
enduring brand must have a definite vision. A vision is an expression of
corporate ambition. Vision is an aspiration
or description of what
an organization would
like to achieve or accomplish in
the mid-term or long-term future.
It is intended to serve as
a clear guide for choosing current and
future decisions. Therefore, every brand as a matter of foundation should have
its vision well defined from the inception. It will birth corporate values, ethos
and beliefs.
2. COMPETENT HUMAN ENERGIES: Yet another deciding factor for
brands. Some refer to it as human
resource, but it connotes same thing.
Brands must have very motivated and competent human resources that are
passionate, prepared and persistent about the brand’s vision. When your brand’s resources are not ambassadors
of the brand, then there is a clog in the wheel of your progress. Constantly identify how to motivate your “energies”
towards your corporate vision. It pays to do so.
brands. Some refer to it as human
resource, but it connotes same thing.
Brands must have very motivated and competent human resources that are
passionate, prepared and persistent about the brand’s vision. When your brand’s resources are not ambassadors
of the brand, then there is a clog in the wheel of your progress. Constantly identify how to motivate your “energies”
towards your corporate vision. It pays to do so.
3.
SOUND
FINANCIAL MANAGEMENT: Nothing
wrecks brands like financial recklessness. To mention brands that have kissed
the dust based on this single action
is messy. The effect is better
imagined that experienced. Therefore, enduring brands must have very sound,
technical financial management in place. Things should follow the established
rules and regulations. Most especially
in Africa and Nigeria in particular, people want to cut corners on their duties
with the hope of deceiving the system. Hence, every brand managers should
ensure proper financial technicalities to cage mismanagement. This is vital for
brands.
SOUND
FINANCIAL MANAGEMENT: Nothing
wrecks brands like financial recklessness. To mention brands that have kissed
the dust based on this single action
is messy. The effect is better
imagined that experienced. Therefore, enduring brands must have very sound,
technical financial management in place. Things should follow the established
rules and regulations. Most especially
in Africa and Nigeria in particular, people want to cut corners on their duties
with the hope of deceiving the system. Hence, every brand managers should
ensure proper financial technicalities to cage mismanagement. This is vital for
brands.
4. EXECELLENT LEADERSHIP: This is the ability to guide, direct,
control or manages a set of people. This is crucial in brands management. The
old adage that says “When the head is bad, the whole body will be affected” is very
apt here. If your business must succeed, then up your leadership skills
regularly. There are various trainings, free seminars on leadership development
to attend.
control or manages a set of people. This is crucial in brands management. The
old adage that says “When the head is bad, the whole body will be affected” is very
apt here. If your business must succeed, then up your leadership skills
regularly. There are various trainings, free seminars on leadership development
to attend.
5. STRATEGIC PLANNING: Strategic Planning is putting positive
efforts into your future. For your brands to last, you need to constantly
ensure plans ahead of your competitors.
Be alert of new trends, inventions and technologies in your service
industry. Learn to embrace these new
ideas if you must remain industry relevant.
efforts into your future. For your brands to last, you need to constantly
ensure plans ahead of your competitors.
Be alert of new trends, inventions and technologies in your service
industry. Learn to embrace these new
ideas if you must remain industry relevant.
6.
GOOD
CORPORATE VALUES: Do you know that your corporate values determine what you value which in turns determines your
corporate value in the industry? Think on that!
GOOD
CORPORATE VALUES: Do you know that your corporate values determine what you value which in turns determines your
corporate value in the industry? Think on that!
Brand value exists in segments. You
need to indentify your niche market and play there. A brand succeeds when the
fundamentals are taken care of.
need to indentify your niche market and play there. A brand succeeds when the
fundamentals are taken care of.
Sunday Osanyintuyi, with
over 12 years rich media industry experience, Sunday is passionate about using
media for national development. As an expert in media relations and corporate
communications, Sunday consults for SME, churches and other corporate
organisations to maximize their media exposures. He belongs to some
professional bodies like Nigerian Institute of Public Relations, (NIPR), and
Nigeria Union of Journalists (NUJ) among others. He has undergone international
trainings on media, leadership, and management.
over 12 years rich media industry experience, Sunday is passionate about using
media for national development. As an expert in media relations and corporate
communications, Sunday consults for SME, churches and other corporate
organisations to maximize their media exposures. He belongs to some
professional bodies like Nigerian Institute of Public Relations, (NIPR), and
Nigeria Union of Journalists (NUJ) among others. He has undergone international
trainings on media, leadership, and management.
Twitter:
@SundayOs
@SundayOs
