Shireen Smith - What Makes an Outstanding Brand
It’s when a brand is successful that it pays off to have built and protected the brand elements of its identity carefully in the early days, so, think about the legal dimension of your branding once you’re serious about your business because it can potentially comprise 70% of the value of your business.
When looking for the purpose behind a business find one that’s capable of inspiring the team and customers too. Your “why” should be a belief that galvanises you into making long-lasting positive changes that drive growth and innovation.
Given that intellectual property is part and parcel of business, a narrow perspective that purely considers intellectual property doesn’t serve many of the small businesses I often help
You see a problem I notice is that some web developers, designers, marketers who help small businesses with their identity work, don’t themselves understand IP. So they tend to not take a holistic approach and often neglect the legal dimension meaning that what is arguably the single most important decision a business makes gets side lined.
Intellectual property is just a means to an end. It’s rarely the end itself. So, when businesses are creating a brand, choosing a name, having a logo developed and devising their brand identity or promotion campaigns, that’s when they also need to find out about intellectual property. IP is simply part of the exercise.
When you have an offering or a way of doing business that is unique to you it becomes much easier to succeed as a business.
You should formulate your strategy for how to stand out from competitors. Then execute on your plans.
Differentiation effectively involves working out what messages to communicate to consumers so they know that buying from you will give them a specific benefit. This benefit must be powerful enough to influence a buyer to choose your business over all the other available options.
Whether you get help to work out your differentiating strategy or deal with all your own “branding”, even design your own logo, I can’t stress how important it is that you take ownership of the differentiation strategy. You know your industry and service offerings better than anyone.
Common problems with brand identities do tend to centre around names, logos or taglines. For example, a commonplace logo may be an image of a bunch of flowers for a florist.
Descriptive elements might work from a marketing perspective but they don’t serve you from a legal perspective. If they are purely descriptive of the products or services you sell then names, and taglines will be incapable of protecting your market share.
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