Modern Franchise Magazine August 2013 - Page 22

business Checklist for a Great Brand By Siimon Reynolds Any smart entrepreneur understands a strong brand is vital. (It separates you from your competitors. It enables you to charge more. It allows you to add new products easily. It makes people feel proud to buy from you. It increases loyalty). But many people are not sure how to create an outstanding brand. successful company’s in the world, from Apple to Coca Cola. So today I’d like to give you a quick brand building checklist, to help you make the most of your brand. Have a read and see how your brand measures up. Great brands have the following characteristics: 1. THEY OWN A CLEAR SPACE IN THE CONSUMER’S MIND That could be a logical space- your product is cheaper or better made for instance. Or it could be an emotional space; your offering may make your customer feel safe, sexy, or smart, for example. I’ve spent over 30 years creating and enhancing company brands, for some of the largest and most Which ever way you go, you must make sure your 22 | Modern Franchise Magazine maxiom