18 Aug Brand Your Business With One Word
The 22 Immutable Laws of Branding, How to Build a Product or Service into a World-Class Brand, by Al Ries and Laura Ries
Brand Your Business With One Word, according to this book.
From Chapter 5:
If you want to build a brand, you must focus your branding efforts on owning a word in the prospect’s mind. A word that nobody else owns.
What prestige is to Mercedes, safety is to Volvo.
Others: FedEx – overnight,
Words are the key to brand building. Reality, of course, rests in a visual world of shapes, colors, textures, and dimensions. But reality has no meaning without the context provided by the human mind. The mind gives meaning to visual reality by using words.
The same is true of the product or service you are selling. The product itself might have a visual reality. But it’s the brand name and its associations that give the product meaning in the consumer’s minds.
So you can forget about the laundry list of wonderful attributes your product has. You can’t possibly associate them all with your brand name in a human mind. To get into the consumer’s mind you have to sacrifice. You have to reduce the essence of your brand to a single thought or attribute. An attribute that nobody else owns in your category.
Ask not what percentage of an existing market your brand can achieve, ask how large a market your brand can create by narrowing its focus and owning a word in the mind.