The Factory Blogger...

We are working with a new client that manufactures tools. Within the hand tool market they are, comparatively speaking, a tiny company. In my early discussions with our client they didn't want to spend money on a brand as they saw the process as being "too expensive".

As part of the project we conducted some customer research to see what the paying public thought of the tools.

With no packaging and with the branding covered up, they fared quite well in peoples' opinions when compared with similar tools from other manufactures.

However, as soon as the branding and packaging were revealed, the popularity of the products plummeted in favour of companies such as Stanley and Draper.

The product went from being "quite likely to buy" or above in the opinions of the participants to '"not at all likely to buy". All that had changed within the perception of the participants was the brand name and the associations with that brand were now known to them.

So just how expensive is a brand?

Below is an illustrated 'life cycle' of a brand and the stages you should be aiming for. It isn't expensive (no more so then any outbound communications you are already doing) but it does take time, planning and commitment.

Here's the list....

1. Brand rejection
If someone associates your brand with something negative, they will purposely avoid your product. If public opinion is turning against you or your product, launch a campaign to alter it.

2. Brand non-recognition
This is where your customers simply don’t recognise your brand… probably because it is not clearly differentiated from competitors. Boldly state your product or service’s benefits. Find the differences in value between your product and your competitors and highlight that difference mercilessly.

3. Brand recognition
This is a good stage to aim for if you don’t have any recognition at all. Brand recognition will help people lean toward your product when given the choice between your product and one they have never heard of. Continue to differentiate yourself and be sure to add value to your product in order to get to the next stage.

4. Brand preference
This is where customers – given a choice between two brands – will choose yours over someone else’s. It often is the result of a sense of differentiation and that your product or service uniquely serves their needs.

5. Brand loyalty
This is where customers will choose your brand time and time again, even if another product comes along that seems to be better suited to their needs. To achieve brand loyalty, you need to provide a product that is highly differentiated, with plenty of value added, but also you need to offer them remarkable service at a level they will not get anywhere else.