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Nurture Your Brand and Grow More Businessby Phillip Davis Send Feedback to Phillip Davis company branding strategiesMore Details about company branding strategies here.
A few years ago, Apple was known as an innovative computer maker. Now they are arguably more associated with music and video thanks to the popularity of iTunes and the iPod. So where does that put the Apple brand in the consumers mind? Are they still a computer company selling hardware? A software company? A music service? The truth is that their image/brand/reputation, is undergoing a significant change; and to keep operating as if they were just a computer manufacturer with a popular new offshoot product would be a mistake. I heard a speaker at an executive leadership meeting share that 40% of an average company's revenue would be coming from a completely new source in five years. That amazed me. It speaks to the constant change that takes place in every business. And because we get so caught up in the day-to-day grind, we often miss those slowly emerging trends. Take a few moments this week and look at your company image as if you were your brand's "gardener". Are you still in the same business that your started in? Have there been any changes in your products or services or pricing or quality that needs to be communicated in your marketing, your tag line, or your name? If you were Apple, would you just keep advertising computers... or would you present yourself as the doorway to a digital lifestyle? If Burlington Coat Factory is "More Than Just Coats" why not say what that means? If Southeast Airlines flies all over the U.S. then why keep a name that's so narrow? When Abacus Computers came to us as a leading point-of-sale provider to the restaurant industry, it was apparent they weren't computer salespeople any longer. They were solution providers. Abacus Computers is now Abacus Business Solutions with the tag line "You can count on us". So take some time this week and do some image pruning. Add some Miracle-Gro®, (and perhaps even some weed killer for those outdated names and products). Then sit back and watch your brand, and your business, continue to thrive.
Phillip Davis is President of Tungsten Branding. Phil’s life goal of “creating environments where people thrive” reflects his desire to assist in personal, professional and business growth. Phil founded and ran a full service ad agency for over 17 years and now works full time as a company naming consultant. Phil resides with wife Michelle and four energetic offspring outside Asheville, North Carolina
Website: http://PureTungsten.com
Keywords: naming a business, branding a business, naming a company, naming tips, This article has been viewed 827 time(s).
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