The most important skill in a business is the ability to sell to a customer. You could just run a very successful short-term business by just selling goods/services. But in order to run a really profitable business, you must establish your brand. Brand is considered the most important and valuable part of your business.
A brand is not just a logo. A brand serves following values to the customer :
A Promise of Quality
A Mission that goes beyond the product/service.
Let me share examples of Nike which established its Brand in the correct manner.
The Swoosh logo of American athletic shoe and clothing manufacturer Nike, Inc. is one of the most recognizable brand logos in the world, and the most profitable, having a worth of $26 billion alone.
Designed in 1971, the creator was a young graphic design student in Oregon, in the USA. An accounting teacher at her school had heard she needed some extra money for oil painting lessons, and asked her if she wanted to help design a logo “that showed movement and speed and would look good on a shoe.” He and another guy were planning to start a company. He told the her the design mustn’t look too much like the main competitor’s logo, (Adidas’ stripes).
“ What else you got?” was the response of Nike’s co-founder (the accounting teacher) when she presented him the Swoosh design. He was not very impressed.
So she designed a few more ideas, but he chose the initial design saying, “Well, I don’t love it, but maybe it will grow on me.” At the time, she was paid only a whopping $35 ($2/hour) for her work.
It has been 45 years since the logo is still around almost unchanged. But we must understand that it is not the logo that is important. Although Nike is one of the most powerful American brand, if it made bad shoes or clothing the logo just wouldn’t matter. A brand has to built trust, promise quality and built its own identity as the best and value for money.
Let see how has Nike been doing it. What are the strategies it has been following to built such a big billion dollar brand.
Put Customer Interest First:-
Customers like great products and they like serious benefits.
For them, things that benefit them personally are easy to justify. The Nike Moon shoes did this, but only because the customer was beginning to understand jogging and its benefits for their health. Nike’s founder Bill’s secret goal wasn’t to sell shoes, he was simply promoting something that he believed in. This may not sound like marketing strategy, but it certainly should.
Built your strategy on what customers want:-
When the company was setup, the customer didn’t want better running shoes, but the customers wanted a better way to get into shape. Running wasn’t the widespread social activity that we see it as today. The growing white-collar workforce helped pave the way for social activities that included the promotion of cardiovascular health. Once the trend was ingrained, the need shifted and the “jogging shoes” themselves became the felt need.
Don’t sell the product, sell its benefits:-
Nike’s goal was to make the world’s most light–weight running shoe. The company believed that this factor alone could dramatically improve the speed of a distance runner. Their product worked and quickly gained the industry respect that it deserved.
(Video Link : https://www.youtube.com/watch?v=HkWRF23pj6M )
Socialize your brand:-
Nike has mastered the art of creating amazing content that reflects its empowering branding online. Its aggressive and straightforward approach works well and has made Nike into the iconic brand it is today.
Put in more contests and give more giveaways for your fans! Engage with your customers over Twitter, Facebook, Instagram, Local Stores, and everywhere where you can. Here is a image which shows Twitter followers for Nike and its competitors.
|Brand||Logo||Facebook Fans||Twitter Follower||YouTube Subscribers|
A community which reviews your products/services, gives their opinion on how to improve your products/services. Nike optimizes this capability and dominates social media by creating a sense of community and connection with its fans.
Nike also runs a community impact program. It not only promotes its products but also promotes its community programs to create an emotional attachment with its community and fans.
Name:- Harsimran Singh Mand
http://about.nike.com/pages/community-impact. http://www.womenyoushouldknow.net/the-woman-who-designed-the-swoosh/ http://www.nike.com/https://en.wikipedia.org/wiki/Nike,_Inc. https://www.quintly.com/blog/2013/08/social-media-sport-brands-nike-adidas/ http://successstory.com/companies/nike-inc.