Creating A Brand Meaning that Really Means Something
In a recent Los Angeles Times business article (July 3, 2009) reviewing a new car release from Korean car maker Hyundai, reporter Dan Neil made the following comment:
“Yes, we’re all very impressed with Hyundai’s robust sales numbers, the company’s monster 10-year warranty and the new Hyundai Genesis sedan, which was voted 2009 North American Car of the Year by a group of powerful and influential automotive journalists who were found sleeping under a bridge.
“But what does the brand mean? If anything, the cursive H stands only for a kind of predatory cheapness that undercuts Honda/Acura and Toyota/Lexus. As cars like the Azera and Sonata demonstrate, in a coldly calculated dollar-for-value comparison, you just can’t beat a Hyundai.
“So what. No one ever wrote a misty-eyed heavy metal ballad to the glory of the bargain equation. No one ever serenaded with a mariachi band beneath the window of extended warranties. Hyundai is a brand utterly devoid of romance, poetry or inspiration.”
What a great commentary on branding - especially for small business owners who compete against big-box stores and franchises without large marketing budgets and flashy websites - small businesses who, in an Internet connected world, almost always feel the pressures of price.
Irrational though it may be, we make the majority of our purchasing decisions - from cars, to coffee, to where we eat breakfast - based in large part on our emotional connection to brand. Whether or not you agree with the assessment of Hyundai’s brand, the point is that you cannot build customers/clientele through price competitiveness alone. You must do more - create an experience that sets you and your business apart…an experience that creates and embodies your unique brand.
In college, I used to eat at a local breakfast dive whose brand was based on portion size - huge pancakes, ridiculous pieces of ham, huge platters of eggs and potatoes. The dishes were cheap, the service was marginal, but the place was always packed. To go there for breakfast was an experience: you always left with a story, and people drove for miles and waited for up to an hour for the chance to be a part of it. Obviously, it was about much more than getting a meal.
What defines your small businesses brand? What do people know you for? What stories are they telling about you? Remember, “No one ever wrote a misty-eyed heavy metal ballad to the glory of the bargain equation.”
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