Being the First in Your Market

important-first-advantageWhen you are the first to come up with a product or service, half the work is done for you.

Moving the king off an established mountain isn’t easy and Brand recognition is huge among those that were first to market. By reviewing some of these recognizable name brands – its easy to see the importance of being first.

Aspirin: the first over-the-counter pain reliever.

Kodak: the first film.

FedEx: the first to ship overnight. Their branding marketing strategy was so effective – their brand name became a verb – “Just FedEx this”

How to Gain Popularity

RC was first but Coke is number one in cola’s. Pepsi came along with their “Taste Challenge” and although they don’t have top spot – they do have a snug second. Bye-bye RC.

Look at 7-Up. They positioned themselves as the “un-cola”.

Kodak was first in film but Polaroid® was different and became first in ‘instant’ developing film.

Tylenol positioned themselves as a non-aspirin pain reliever.

McDonalds may have been the first chain in fast-food but Burger-King is flame broiled.

Look what Subway did to the fast food industry, a fast-food chain that promotes health and weight-loss.

Hertz may be number one but Avis “tries harder.”

You don’t have to be first in your category to stand out, nor do you need to be second. Big brands in top spot have done much of the hard work for you. Study them, see how they got there, and carve out your own special, focused niche.

Top Tools for Effective Branding

Reputation Management
One of the top tools that is often overlooked – is Reputation Management. The internet is full of places where people can go to leave negative feedback about your company and whether you believe it or not – it is extremely important that you address these comments.

When your customer is searching for the product or service that you provide they will stumble across (sometimes several) review sites that come up. They WILL read the reviews and if negative reviews are left out there to fester, you could be losing clients and sales.

Business Name
Your business name has a lot to do with your company and how easy or difficult it is for people to know what you do. Trying to establish your brand using a trademarked name (ie Pepsi or Google) will require you spend much more time, money, and focus, on helping people identify what you do initially than a name like “Ed’s Electrical Supply’s”

Marketing Video
Producing a professional quality marketing video will get your message out to your prospective customers. Video’s have a tendency to go viral, which means millions of people have the potential to see you, your company, and what you are offering.

Newsletters and Reports
Publishing a newsletter or a report on a monthly or weekly (even quarterly) basis puts your message and brand in front of an interested and targeted audience. Newsletters should re-enforce your brand; contain your corporate colours, your logo, and your message. The contents need to be useful and timely.

Logo
Logo’s also fall under graphic services but are a very important and fundamental step in your branding process. Logo’s should be simplistic, recognizable, and be able to adapt to any surface or presentation. Whether your logo is going to be on a website, business card, or company jacket, it needs to be clear and identifiable.

Business Website
We may be a web development company and a little bias – but – you really should have an effective website. Having an online presence isn’t absolutely necessary but without one, you are probably losing a lot of business – regardless of the market you are in. As well, your site needs to be mobile friendly and easy to navigate.