5 Branding Strategies for Entrepreneurs




Strategy is the brains of branding. So to rev up your business and your own personal profile, try out these 5 strategies that professional marketers use to position their brands successfully:

1. Own an Attribute

(Think: Volvo and Safety)

Let’s say you’re in a crowded, competitive field (aren’t they all?), and you’re having trouble distinguishing your business from your key competitors.Consider adopting the Attribute positioning strategy. Look for an attribute that it’s credible for you and your business to own that someone else doesn’t own. It must be an important attribute in your industry (or one that you can make important.) Maybe your strength is accountability or your relentless drive in servicing clients. Or your product has a quality or design feature that is an advantage.Use your attribute as your organizing idea in your elevator speech and all your company’s marketing.. Make it your mantra. Use examples and stories to connect the attribute with you and your company.

2. Invent a “New Process” or “Magic Ingredient”

(Think: Google)

Creating a “new process” or having a “magic ingredient” is one of the oldest brand strategies dating back to patent medicines in the 19th century .  While it’s takes creativity, consider this strategy if you’re a consultant, doctor or an innovative professional or entrepreneur. Put the focus on how and what you do that is different and remarkable.Look at Dr. Arthur Agatston. He a new process for dieting  and branded it with a great name – The South Beach Diet.

3. Be the Maverick

(Think Steve Jobs and Apple)

As much as leaders are part of our mythology, so are mavericks. Often the best way to stand out is by being the opposite of what’s expected. This even works in settings that seems to demand conformity as related in a recent New York Times article on Obama: “The young law professor stood apart in too many ways to count.”Consider the Maverick positioning strategy if you’re a professional or entrepreneur who can build your point of difference as being the antidote to the establishment. It’s a great strategy to us if you are competiting against a larger competitor. Pitch yourself as the opposite and turn your weaknesses into strengths: they are big, you are small; they are traditional, you are innovative; they are slow and you are nimble. Beware: mavericks can become like the establishment  and loose their maverick status.

4. Be the Expert

(Think Barbara Corcoran and Real Estate)

Whatever you do, ask yourself.  Is there an area in your field not crowded with experts already? Can you interpret something in a new way? Then, position yourself as an expert to others whether it’s through a  newsletter, or magazine articles, blog, speaking or the ultimate expert venue, writing a book. Barbara Corcoran was an unknown in New York real estate with only a dozen sales under her belt as an entrepreneur when she launched the Corcoran real estate report on the prices of apartments in various neighborhoods in New York. And put herself and her business on the map.

5. Promote Your Special Heritage

(Think Stolichnaya vodka and Russia)

Consider the Special Heritage strategy if you attended a prestigious school,  training program or worked at a top company before you started your own business. The heritage strategy also works if your country of origin is in demand like India or China. (Or if your last name is Bush, Kennedy or Rockefeller!) Say you’re pitching a new prospect and you’re competing against a formidable competitor. Is there a way to use something about your “heritage,” your background and experience to position you and your company differently, and give you an advantage? Your heritage may be your background and training before you started your business. It may be a well-known client and key project you were involved with. Your heritiage will become part of your company’s brand and give you a point of difference.Explore these 5 brand strategies. Each one has worked famously for products or people. And there’s no reason that one can’t help position you in the marketplace for success. 

catherinek
About the author:
From Madison Avenue to Wall Street to the halls of academe, Catherine Kaputa perfected her ability to market products, places and companies. She first learned brand strategy from Al Ries and Jack Trout at Trout & Ries Advertising, then led the award-winning “I Love New York” campaign at Wells, Rich, Greene. For over ten years she was SVP, Director of Advertising and Community Affairs at Citi Smith Barney, and she taught branding and advertising at New York University’s Stern School of ...
My website is at: http://www.selfbrand.com


  

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