Organisations (through their products and services) need brands.
They need them to power awareness and differentiation. They need them to help convey relevant information that will trigger certain actions (trial, repeat purchase, recommendation, increase value perceptions…)
Organisations need brands to help them grow, to expand to other categories and to boost profitability (as some brands can command a price premium).
But brands, like personalities, are complex. They can be subjective: they change, they adapt. It can sometimes prove difficult even for people who work closely with brands to explain the brand meaning, the brand positioning and its main differentiators from other competitor brands.
Whether you are a brand manager, an agency person or an employee, if you are interested in helping a brand prosper you should be able to explain its essence, anytime, anywhere.
This is where a slight modification of the classic elevator pitch comes in.
Imagine you are in an elevator with someone who doesn´t know anything about your brand. Could you explain what your brand stands for in the time it takes for the elevator to reach the next stop? Without any visual support. No packaging. No advertising. Just rhetoric.
Better yet, could you explain what makes your brand stand out versus other competitor brands?
Easier said than done, but this level of understanding of the brand positioning and values will help better manage your brand equity and maximize competitive advantages.
Take care amigos,