Consider the three types of branding you can develop as a business owner: a company brand, a product brand and a personal brand. In today’s competitive landscape, we’ve seen how personal branding has become a vital tool for entrepreneurs to communicate value, create demand for their experience and grow their business. So why do so many people resist it?
THE EO BLOG
by Suzanne Tulien, an Overdrive contributor and principal and founder of the Brand Ascension Group
“Oh, you’re a brand consultant? Our company just went through a re-branding effort 6 months ago. We’ve all got new business cards, a new logo, and new ad campaigns coming out.”
I cannot tell you how many times I hear this and like statements from those I meet on a daily basis. And how frustrating it is to hear how much time and effort is wasted in creating new marketing materials, calling it ‘re-branding’, and not doing anything in terms of restructuring the internal architecture of the organization’s brand itself.
In the December issue of Octane, EO’s award-winning member magazine, we spotlighted Nick Friedman, an EO Central Florida member and co-founder/president of College Hunks Hauling Junk, the largest junk-removal and moving service in the U.S. In two years, Nick turned a fun business idea into a national brand, thanks to his innovative approach to marketing and willingness to try new things.
By Jason Forrest, an EO Fort Worth member and chief sales officer of Forrest Performance Group
Perception can be a powerful thing. As entrepreneurs, sometimes we see ourselves as honest, while our employees see us as brutally honest. Sometimes we see ourselves as balanced and our peers see us as lazy. The hard truth is that the way we want to be seen is often incongruent with how we’re actually seen. It’s the same with companies. Sometimes we have an internal understanding of who we are that doesn’t match how our customers see us. It all comes down to branding.
How boosting your actual value and perceived value can help you increase margins for your business and make more money
By Felicia Joy, Black Enterprise.com
Soda sells for $0.67 at the grocery store or $8 at an amusement park. Steaks are priced from $15 at a casual restaurant to around $35 at a fine dining establishment. A cup of coffee ranges from one dollar to more than $5 depending on where you stop for your morning Joe. The vast difference in these prices is a result of brand positioning and the value that the brand represents in the marketplace.
If you want to increase prices in your business and make more of a margin on each sale, analyze your brand to see how you can re-position it to be more valuable in the minds of your current and potential customers. Do this by boosting actual value or perceived value.