Buddy. This is NJ here, the host of the NJ podcast. This is transformational Tuesdays. This is part of the everyday series where we get you to say like JZ, I'm not a businessman, I'm a businessman. Let me handle my business. Dang. And this is the 20th episode and it is the season finale for this. This segment of transformational, Tuesdays, part of the everyday series 20 episodes in we're going to start planning the next ones, but this is a great milestone while at least for me, hopefully this for you and that you've enjoyed the series thus far, and we'll start planning the next ones. And on the season finale, we're going to talk about it's a brand name. All right. Like Pepsi, it's a brand name, right? So Alice temporary. You have to stay true to your heritage. That's what your brand is about. Meg Whitman said when people use your brand name as a verb that is reminded. Let's talk about his illness. He played in six NBA finals, one six finals in MVPs. He didn't allow a game seven and won six NBA finals, six NBA championships without being defeated. He turned the Chicago pools into a dynasty more than this. He was picked by the night. Brand to create a brand of shoes based on his winner's mentality and the way he flew through the air to complete a dunk, the shoes air Jordans are one of the most popular out there and are synonymous in pop culture. There is even a song with the lyrics Jay's on my phone. You know, he was able to take the game of basketball to another level of fame until the sport was ubiquitous with his name. Michael Jeffrey Jordan is highly regarded as the greatest basketball player of all time. And he is the first billionaire sportsman in history. How did this happen? Well, there is only one answer brand equity brand. Now what is brand equity brand equity is the commercial value that derives from a consumer's perception of the brand name of a product or service rather than from the product service itself. It's is the, your identity in the markets? A major question is, is the business branding saying what I wanted to say your business image is based on the message that you sent out to them. If the message is positive, it will bring more customers. If the message is negative, it will deter customers. Your brand equity is paramount as part of your business. If you do not go through the initial question phase of brand equity, the message you send out may not be. It requires all your partners to be in alignment with what your brand says. A successful branding initiative is necessary, and we'll start by answering the following questions. What are the values of my business? What does my business stand for? What do I want my business and brand to represent? How does my business offer value to my customer customers? How am I unique force in the field of my business? What is the process of being go to building a brand building and maintaining a brand is a continuous and iterative process. Right the first time. First, you need to understand what your brand needs to establish this further, unpack your business niche, and how you're going to be unique from your customers, your competitors, target the audience intimately and further understand how your product or service satisfies your customers and potential customers needs problems. Then you may need to create raving fans, brand ambassadors through your partners and employees in your business. This can be established by expressing what your brand represents in a simple way, train your partners or employees on how to represent your brand and have systems that ensure partners or employees always keep the essence of your brand at heart. At further process of implementing your brand strategy. As a following, you'll start off with discovery. The discovery phase. This tells you who you are as a business and who, or what you want to become, what you think you are to the marketplace may be far from reality. It doesn't matter what you think, but what matters most is a customers who define your brand and their perceptions. To get clear insight. You may want to use customer surveys and brand build brand auditing to get further insight into the direction you want to take your business in and what areas you want to affect change and truly listen by putting your ego aside. Next step is clarification and articulation, clarification and articulate. This is a simply and eloquently presenting your businesses, character, and values. This is informed by what you have cleaned in the discovery phase. You identity and values articulated into words, slogans, and a logo. Ensure that these elements of physical evidence are refined as much as possible effective brand names have the following elements. They keep their promise. They are memorable. They are distinctive and. They are a healthy company and have a healthy product category. There are no legal or regulatory restrictions. They create a bond with the customer. They are short and simple. They are easy to remember translate, produce, and recognize. Next step we'll go in. And the process of defining your brand is differentiation and presentation. This is where you present your uniqueness and value to the world and customers. This is where the customer looks at you in comparison to the competition. You will now need to present what sets you apart from the market, which can be done through several strategic statements, that guide future decision making. The next stage is the creative stage. This is where you are bringing out the distinguished identity, creative aspects and physical evidence. This is where you bet down the packaging, the slogan, the color schemes, advertising videos, voice clips, and other forms of physical evidence. This is where you are personal style and personality articulated some elements of a good logo and corporate identity design or simplicity, proportionality, small color. Measurable funds, practical, usable, and adaptable or originality and works within industry conventions and captures the personality of the company. The next stage of your brand definition process is application application. This is where your brand is now announced to the world. Some elements can be the designing of websites than a hostile social media interaction and awareness and the creation of business. Cause the aspects that determine the successful launch of a brand is an initial track record of value. Employee conduct, articulation of Carrollton, competitive edge, the creative elements are important, but tangible value comes first, then aesthetic elements and attractiveness as well as word of mouth will propel the brand. Sound brand launches may fail because less emphasis is placed on discovery, clarification and articulation differentiation and presentation, and rather focus on creative stages and application. Remember that the, and you, you provide to the customer is far more important than a logo or a slogan. And this is the essence of brand. One thing you want to also do is to create brand systems with the us for your brand name by name. Right. I remember when my mother sent me to the grocery store to get washing powder, she said, be sure to get the one kilogram or more washing powder. I went to the store and got a different brand that did the same thing, but she was frantic and insistent. I asked for all more, not whatever this is, but mom, it does the same thing and it's the same price and the same quality. I said she was not having any of it. So I went back and got her. The Omo. It is the same in her house with clothes only Queensland. Hair products, dark and lovely and toothpaste, which she called. Colgates what these brands were able to do in the example of my mother is to cultivate add insistence. This is a case where a customer is so loyal to a brand that they do not want anything. To that death. Apple has done this with some I've with iPhones. Nike did this one Jordan's and Google did this with search engines, create brand and sister creative practice. Distance is a big win and here is a process to follow to assess your breath. First one is awareness awareness. This is the cornerstone of a strong brand. The main questions are all your target customers and key stakeholders aware of your brand. Is this the first one that comes to their mind? I remember being in a business workshop and we did an exercise. We had to list the first company that came to our minds for the following. Computers close search engines, soft drinks and toys. The top answers work apple for computers Lu over Thailand, Gucci for clothes, Google for search engines. Coca-Cola for soft drinks and Lego for toys. Why? Because these companies have created a brand that almost everyone is a, not as knowledgeable of Amazon established a strong buzz when launched three affiliate links leads to higher search engine optimization, and Amazon also makes it easy to share items or purchases on social media and email step one, creating band brand insistence is relevant. Differentiation. Relevant differentiation. This is the leading edge indicator of future market share and profitability. The main question to ask is, is your brand unique or different in customer relevant customer, compelling ways? The benefits should be defined in your value proposition for Amazon more than half a billion different products are available and they are easy to find. Through good search and browser technology. This shows the ultimate convenience of one stop shopping. The next step in brand assistance is vast. Value, this talks to the benefits and pains relieved that the customer can from your brand. The main question is, does your brand deliver a good value for this price? Amazon offers low prices, sometimes the lowest, anywhere and free shipping options sometimes and helps shoppers find the best product through recommendations based on the purchase history, user reviews and ratings and suggested. Complimentary purchases more value is added by allow customers to preview the product by looking inside and listening to audio books through audible. Next is accessibility accessibility. This is the affordance for your customers to access your offerings easily. And. This can be the tie breaker between selecting your brand or a different one that may be more accessible. If the difference in accessibility is high, the customer may choose the more accessible brand. For example, for Amazon, there is training for 7 365. Uh, access for one click ordering and quick shipping. And emotional connection and emotional connection. This is how your brand transcends the logic of your customers and drives the decision making through feelings, identities, and emotional states. Those who are dedicated to apple are not dedicated to the product necessarily, but they are dedicated to the emotional states and rights to belong by being classified as someone who can think different. Emotional connection to a brand will lead to brand loyalty and advocacy for Amazon customers personally, connect with through the user profiles, reviews, ratings, wishlist, and list menu for recommending favorite products. As an author, you have your own author page and can access detailed infamous sales information. Through all the central Amazon also provides ways for authors to self publishing using Kindle direct publishing, create space for print books and AC. Your audio books as simplified way to assess your brand insistence is to use a 10 point scale to answer each magic question related to each element of brand assistance. Based on your answer, you can ask yourself, how can I improve this next you work to put a strategy in place as with the businessman. That you can put in place a tool that looks at your different customers and your value propositions. You'll be able to assess your brand and systems every two to three months. Now let's talk about some brands through our strategies that you can use to make sure that people know that it's a brand name. A strategy is a plan of action designed to achieve a longterm overall. And you should select a strategy that is contextualized to your situation and effective brand strategy can be used to establish your offering in the markets that cement your brand. Once you are successfully established, you can grow your brand. Selecting a good brand strategy is important. As you may have to live with the branding decisions you make for a long time. Some commonly used banning strategies are word of mouth, word of mouth. This is when a customer tells other customers about your brand. And this can be the most effective form of. Customers normally buy from people they trust or people they know that trust a brand. The most recent powerful form of word of mouth is through social media platforms that establish you as a household name, to be successful in this strategy, you need to use them. Target influences who are leaders and influence a wide number of people about your brand. They can be journalists, bloggers, trendsetters, and public figures. Building a social media community can be a quick, a, the quickest way to spend information, to increase brand awareness, becoming a leader by not only relying on influencers, by establishing a unique leadership position, use honesty and integrity to help customers trust the brand as they become aware of it. Another strategy you can use is no name. No, sorry, no brand branding, no brand brand. This is a strategy where you make your branding more conversational and visible by not branding it. This strategy seems to be content intuitive, but can I be productive pick and pay, do this by using no name branding to forego, flashing us to save money so that its products will appear to a segment of the market that wants quality products while not being concerned about the brand. You can also use attitude, branding. This is a strategy used for, at fostering, a strong emotional connection and identity with the audience of consumers. This connection may not be linked with the product or service and solely focuses on life. And identity and emotional states, NAC does this through the swish, which now represents a healthy and independent lifestyle. In addition to the identity of being a go getter through the slogan, just do it by using the strategy, you will contribute to the customer's identity for converse, a customer who wears sneakers. It's not about making a fashion statement, but also by making an identity. You can also think about brand extension. This is where an established brand name is used to boost the popularity and brand awareness of a new or revitalized product. This is often used in fashion music and hospitality, the product or service. It's not different from any other, except it may have a new and popular brand name and adverse effects of this is that the brand identity may be diluted. Carefree to consider if your brand name kind of watered down as the strategy can fail you, you can use multibrand strategy. This strategy will serve you best. If you are in a saturated market, this is where you release two or more brands of the same. Product making, making them seem like they are in competition order to take a larger share of the markets. The business case is that if you have five out of 10 brands, then you will capture a larger market. Share them. If you have only had one brand as, as if Moshe a larger markup have a large market share. And if you only had one brand, if your businesses can launch more than one brand in a campaign, then launching multiple brands may increase. This strategy can improve your overall brand awareness. Even if it's a split amongst several brands diluting the brand. Now I'm a big fan of Denzel Washington. Ye one of the best performances was an American gangster as Frank. Now Frank Lucas was a gangster who made inroads into the Harlem drug trade through his project. He's product blue magic, his genius. Wasn't getting the drug straight from the source in Vietnam, where the product was a hundred percent pure. He cut out the middleman, created a sales team processes and a system to distribute his product and reached a point where he was making a million us dollars. Day, the brand equity and assistance were very strong amongst customers and fellow Didas who bought from him. He held his brand in such high regard that when you found out that Nicky Barnes was buying his product, diluting it and selling it as blue magic, he was beside himself. I don't understand why he got to take something that's perfectly good. And then mess it up. Pepsi to. At blue magic. It's a brand name. I stand by it. I guarantee it. He, they know that even though they don't know me anyway, they know me as the chairman of general mills. What I'm talking about is that when you chop my dope down three, four, 5%, and then you call it blue magic, that is trademark infringement. You understand what I'm saying? I'm going to have to insist that you change. But don't let me catch you doing this again. Well, that was my rendition of it. It wasn't perfect, but I don't condone same drugs. However, I admire the passion with which Frank protected and valued his brand. We should have the same mindset because your brand is the reputation that you use to serve others. Protect, protect it with all your mind. What can we expect from having strong equity and making sure that people know that's a brand name, building a brand is building your business's identity too. By establishing a strong brand equity through a well thought out brand building process assessments of brand assistance and continuous and intuitive application of brand strategy. You will be the business that customers want to go to you. Can't be the Michael Jordan, apple, Amazon Beyonce. And engine of your space. Warren buffet said it takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you do things differently. I hope that you enjoyed this episode of transformational Tuesdays, the season finale, where we talked about, it's a brand name. If you liked this episode, please like share comment, subscribe. Let me know what you think. Head over to the website, to get yourself some merchandise and books and choose today to build a great brand name and too good to build great brand and systems. And thank you you very much for all the listeners. And through that time. Being part of this journey to, through to the season finale, we were planning season two of transformation, Tuesdays as part of the everyday series, where we get you to say life case. See, I'm not a businessman. I am a businessman. Let me handle my business, Dan. And I will see you on the next season of transformational Tuesdays.