6 Simple Essentials to Differentiate Your Product and Maximize Chances for Marketplace Success  

You’ve got a great business.  People love the product.  So how do you keep this going for the long run?  Simple answer: strong branding is the best way to ensure that your business flourishes. Brand is a mysterious idea to many people.  To some it means a name, for others it means colors (as in the company’s recognizable design, à la Coca-Cola), or for many, it’s a logo.  In fact, it’s all of these elements, but those are just really the aesthetics. The deeper part of branding is that it helps businesses collect loyal customers and outrun competition.

Intrigued, but unsure of where to start?  Here are six basics to help you start building your brand:

The Story
As kids, we all grew up reading stories that taught life lessons.  Why stories?  Because they’re memorable and fun.  This is just as true in business.  Think about all the brands you’re most loyal to.  They have a story that connects with you.

Take Toms, the epitome of story-telling entrepreneurship: on a personal trip to Argentina, its founder Blake Mycoskie witnessed the challenges that impoverished children faced without shoes. With this experience he wanted to build a for-profit business that would help poor children around the world.  Today the brand has grown beyond shoes, to bags, glasses, even coffee! Why? Because loyal consumers are inspired and now proselytize (in a positive way) about Blake’s story.

Stories don’t necessarily have to be personal to be effective.  So, to build a compelling story, here are a few tips:

• Be Honest and Authentic: Consumers are savvier than ever, and can detect a fake a mile away!
• Highlight the Unexpected: Did the business start one way, but end up in a different place?  Were there comical headwinds?
• Ask your Loyalists: Sometimes the story is with your most devoted consumers.  Do they have personal experiences with your brand that parallel each other?  Is there a clear theme that floats to the top?
• Take it to Social Media: It’s a wonderful thing that we have so many (free) tools to tell our story!  Consumers expect your brand to live its story on Facebook, Instagram, Pinterest, Snapchat or Twitter. So don’t let them down!

The Consumer
Knowing who will buy your product is essential to brand-building.  That customer loyalty not only pays the bills, but guarantee that you have a future.  Thus, it’s important to know who your consumers are, in detail:

• What is their age?
• What is their life stage (single, married, etc.)?
• Where do they live?
• What are their interests?

Don’t have the answers to these questions?  Find them.  The good news is that you have access to incredible information for free!  Go to your Facebook, Twitter, or Pinterest Insights/Analytics page, and you’ll find a plethora of information.  You could find that your consumer loves DIY crafting, cooking, and writing.  This person is a “creator.”  Now you have an idea of products, messages, and aesthetics they’re into. 

In addition, the next most valuable piece of information you can capture is why your consumer uses your product/services.  It’s ideal to have some consumer research to understand what drives your customers to buy goods.  I highly encourage gathering feedback via short surveys through email listserves or social media. And for those operating stores, you have the luxury of asking your loyalists directly!

The Refining
So…we have all this data, now what?

• Hone your Story: Polish your story to better resonate with your target customer.  A millennial climbing the career ladder has a different take than a Gen X-er mom who’s hit her work goals.  The right story tone can deepen the connection your with customer.  Take the time here.
• Refine your Brand Identity (e.g. Logo, Colors, Visual Expressions, etc.): Colors and logos can help a young brand stand out — so ensure they attract, not alienate your target.  A quick survey among your customers can confirm that you’re on the right track.  Choose the questions carefully, so you can get the most honest answers! 

The Positioning
At this point, you’ve got your story down and know your customer.  It’s time to figure why your brand is different and better.

First stop? Check out the competition. Sizing up what’s out there is critical so you know where your brand can play and shine.  For example, using a fictional, but based on a true story candy store, the company SugarEnvy was inspired by the love story of two founders after watching Charlie and the Chocolate Factory on a date, the couple dreamed of a way for adults to have the same childhood fun.  And so was born SugarEnvy, the “ultimate candy store for adults.”

What made it different (and successful)? Looking around, it was clear that the candy boutique competition was high, but was either focused on being nostalgic, luxury, or kiddie.  So procuring small-batch candies from across the world, in fun and fresh packaging, truly differentiated the brand.  SugarEnvy is not just about your average artisanal, all-natural, non-GMO treats;  once you enter the fresh white and blue stores, you see eye-catching product displays with witty signs. Then the product itself takes you on a trip around the globe, with alluring options like Bavarian Dom Perignon Champagne Bears, Parisian Pineapples, Makers Mark Maple Bourbon Caramel, and Kyoto Blossoms all creating a worldly exploration of sweets.

In the marketing world, this is called positioning: SugarEnvy found an opening in the current candy market, and they went for it.  Their personal story, plus great positioning, creates a dynamic brand.

Differentiating Your Brand
Tips for crafting your brand’s differentiation:

• Pick your Top Points of Difference: What are the 2-3 areas where your brand is different? For SugarEnvy it would be: 1. Globally procured artisanal candy 2. Fun & fresh customer experience
• Outline your Special Value: Figure out how your brand is better for your target consumer versus the competition.  Then write down this special value. With SugarEnvy, the brand might say: “Unique, all-natural candy discovery experience.”
• Define the Brand’s Position: Now that you know your target, special value, and differences vs. competition, map it out via a clear positioning statement, like this: “_____ (brand) provides _____ (target customer) with more _____ (special value) than any other type of  _____ (your business segment), because we _____ (point of difference) and _____ (point of difference).”

Note: This positioning statement is a great one to have to share with all employees and vendors so they know exactly what the brand is about.

Let the Brand be Itself!
With your story, consumer, and positioning sorted out, you’ve got a terrific foundation to build a brand that pops and lasts. Be true and consistent to what you’ve laid out, and people will take notice. Brands are like people – or, as Oscar Wilde said, “Be yourself; everyone else is taken.”