If you're someone who sells teapots, do you need a brand? You might say, well, no—you just need teapots to sell.
Okay, so let’s say someone decides they need one so they ask you your price. The price point you adopt suggests something about your perceived value.
✨This is brand equity.
At your price, they want to know why your teapots are better than the other gals’ down the street. They need a solid reason, a story to compel them to buy it. So you explain how it’s different and far superior to the other gals’ teapots.
✨This is brand positioning.
They take your word for it and decide to buy your teapot. What’s their experience with your product? If it’s good, they’ll want to tell their friends. If it’s bad, they’ll still want to tell their friends.
✨This is brand experience. Positive brand experience = brand loyalty.
When they refer your teapots to their friends, how will they do so? It’s likely they’ll say, “they’re Joan’s Teapots”.
✨That’s personal branding.
Even without deliberately branding, your business is a brand just the same. If you have a business, you have a brand.
Branding is a multi-faceted, unavoidable artery of any business. The visual identity—what many believe to be a brand—is just the tip of the iceberg. Brand identity is the beacon that grabs their eye and draws them in.
These days, with supply far outweighing demand, strategic branding is your saving grace. It is how you differentiate and grab the attention of those who will benefit from your product.
Brand equity.
Brand positioning.
Brand experience.
Brand loyalty.
It’s all there, in every business.
How is your brand currently serving your business?
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