Issue link: https://iconnect007.uberflip.com/i/1515304
22 SMT007 MAGAZINE I FEBRUARY 2024 term thinking and expectations should not be applied here; branding is an ongoing, long- term process. Creating a solid company brand increases your product's value; you can charge more for your products and services, which pays for marketing and increases your profits. How can we establish and measure branding? Branding is measured not in the short term, but over years of dedication to building that brand. If I ask you to name a fast-food res- taurant, for example, you will most likely say McDonald's, even if you don't eat there. McDonald's has owned that space for many years, likely because the company advertises consistently over the long term. It achieved market saturation and remains at the top. At one time, there was no such thing as fast food. At one time, there was only one McDon- ald's restaurant. But the company discovered a niche and capitalized on it. e quickest way to own a brand in the marketplace is to find an opening where a name brand doesn't exist. What is your niche, and how can you position your message to demonstrate that you either offer something that no one else does, or you offer it better, smarter, faster, or more effi- ciently? Take the time to think about what your brand really is. A simple measure of branding is the number of impressions into your target market. Remem- ber that if your target markets are B2B, you will not have ever-growing numbers. A fixed num- ber defines B2B markets. e measure, therefore, is not how many peo- ple saw your ad one time but the number of times your ad got in front of the right people in your market. In other words, you want each prospect to see your message as oen as possible. Of course, other measures come into play over time as well. You start to see your sales increase. You notice a higher demand for your products. More people contact you to do busi- ness. You are more recognized at trade shows. More people think of you first in your chosen category, like people did with McDonald's in fast food. You're established and are measuring your brand. Define Your Message e message is the stated value that defines your offering and communicates that to your customers. e message should not focus on how great you are, but on the benefits to cus- tomers by doing business with you. What does this look like? Consider these two messages that might be included in a branding message: • Everyone wins with our product • Improve your yield by 35% e first statement is vague and targets everyone as a winner. It seems safe on the out- side, but it hardly serves as a compelling argu- ment to gain business. e second message talks directly to the potential customer. "Improve your yield by 35%" is very clear and direct. is value is strongly com- pelling to prospects who want to increase yields. It gets their attention, and it positions you as someone who increases quality and throughput. Remember, the mind likes simplicity, not com- plexity. So, your message should be clear, concise, accurate, and stand on its own. Most oen, you