Do you have favorite companies that you like to buy from? Do you lust for a Prada handbag, or jeans from 7 of all mankind? Or maybe you just really like Old Navy’s T-shirts. That is the power of branding. When people love your brand, they seek you out. They also will pay a premium to get your product.
But what is branding? Branding is all the effort we make to create a to create an impression we want our customers to have of our products. Brand building is the biggest lever most companies have to improve profits and create a demand amongst our customers. Most retail buyers seek to buy from companies that have strong consumer recognition. They understand the effectiveness of branding. If you want to create leverage with an account you must make your brand so compelling that they have to carry it in their store.
Brands that stand out from the crowd do so because they intrigue people, are memorable and different. Compelling brands are relevant, have strong brand stories, and have a consistent style. They stand for or against something and have a unique proposition that differentiates them from the competition. People remember compelling brands and know what to expect from them. It’s like finding a McDonalds in China. You know what the BigMac is going to taste like even though the restaurant you’re in is 6,000 miles away from the one you usually go to.
Creating a consistent brand experience is critical to establish your identity and engaging your customer. There is nothing better than a shopper coming to a store and asking for you buy name. That level of demand brings equity to your brand. It makes it more valuable and helps you compete more successfully in the marketplace. So spend the money it takes to build your brand, as it is money that is well spent.
Maria Pesin knows fashion, especially the business side of the fashion industry. Do you know how Manolo Blahnik got his start in the industry? How he leveraged a paltry 3 grand into one of the world’s most famous luxury brands? While she doesn’t take credit for Manolo’s success, Maria has walked a similar path on numerous occasions. The world of fashion is not silicon valley, and it has nothing to do with Madison Avenue marketing. In this industry there is ALWAYS room for something new and exciting, but you have to have your ducks in a row. If that’s what you need, believe me, Maria is the General Patton of fashion ducks!
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