5 tips for Singaporean firms in building their business brand

In an age where consumers have a wealth of information and choices, there are multiple substitutes to numerous products. Think of food, electric appliances, banking services to grooming products, consumers are spoilt for choice. So why would they choose your products?

If your products are easily substitutable, then the common strategy used by business is to go on price war. However, such war is never ending and it probably eats into your razor thin profit margin. Hence, there must be non-price competition.

The solution is branding.

Telling a compelling story

There are few brands in the world that probably succeed without having a compelling story that entices consumers to their brand. When we talk about story, we are not saying about the “superhero” nature of bragging about your products.

Instead, it is a genuine story of the motivating factor for creating this company or product and how it is embedded into every product of your company.

A story is like a bridge between the company’s goal and the consumers’ heart. It can be related to everyday lives and concern.

A favorite example of mine is Procter & Gamble (P&G) whose message is clear: Touching & Improving lives. As simple as it is, it connects consumers to the purpose of their existence.

Personality is the projection of your story. It is like a brand comes alive. It is personification of brand, giving some human characteristics that can potentially bind consumers’ attention with yours. Think of any street wear brand, what is the personality of the brand that comes into your mind?

Brand ambassadors

Having a story helps to package your business to be well perceived by consumers. The step does not end here. You will need people to promote the story and business. The frontline of such job is the employees.

Imagine a scenario where your employees do not believe or even know about the story of your company, it is tough for consumers to internalize it too. As such, internal-branding is critical for companies that wish to grow, especially in overseas expansion.

When employees become the first line of brand ambassadors, they will be able to educate and convince consumers that their company products are the best fit. The fact is first impression counts and employee is probably the First Point of Contact (FPC) with the consumers.

You would want an employee that is filled with enthusiasm and fun loving to create a pleasant shopping experience for the consumers when they enter your company.

Educating the consumers

This is a commonly understood task of every company. However, the approach to implement such strategy often clashes with its initial intention. More often than not, educating becomes selling. Employees should understand that the process of educating is not hard selling.

Instead, it should be seen as a process of letting the consumers reveal their needs or to create a derived need from consumers.

In the process, consumers will be convinced that your products and services are the right fit for their lifestyle. Such approach can have far-reaching effects of creating repeated customers and referral.

Brand purpose

The idea of brand purpose is a driving force to pull consumers to your products. Essentially it tells the consumers what your products can do for them. It may sound easy but there are often pitfalls in business strategy when it comes to creating a brand purpose.

Think of an industry say supermarket chain. The supermarket chain business in Singapore is pretty competitive. There are local and foreign players. Often, there is a promise of lowest prices in town with quality products. This is a promise by the brand, not a purpose.

In another industry say the airline field, every carrier would want to promise you the lowest fare for the destination of your interest. They can guarantee you that they are providing you with the lowest fare. However, that is still a promise, not a purpose.

As such, brands must drive their purpose to the nail. That is to project the image that having the lowest cost and quality products, or having the lowest airfare is to stretch consumers’ dollars to have more money to purchase other quality grocery or having more budget to spend on shopping or adventures when they are overseas.

Hence, the purpose is to add value to every shopping purchase consumers made at your premises.

The idea is clear: linking brand promise to brand purpose.

Consistency

Business can create a product differentiation through consistency. The idea of consistency is not advocating a need to remove innovation or change. Instead, it is to create a feel of creditability and stability to your brand.

You will not want to change your brand promise, purpose and messages frequently, to the extent that your consumers cannot identify strongly with your brands for certain characteristics they are looking out for in a product. Be innovative yet consistent in your brand message to consumers.

The mechanics of branding is to achieve one aim: creating clients for life.