With the Philippine economy on the upswing, more enterprising Pinoys are boldly exploring opportunities by setting up their own businesses. This gives the country a much needed boost.
In a recent report, small and medium enterprises grew from 492,510 in 1995 to 816,759 in 2011, generating millions of jobs.
While this is certainly good news, it also means stiffer competition among companies who want to stand out in a crowded marketplace. How do you ride the wave and still come out ahead?
Setting up a business is one thing. Making it successful and sustainable is another matter. This is where branding comes in. Overlooked at best and totally ignored at worst, branding’s role in building and growing a business cannot be overemphasized. So why should it be an indispensable part of your business development strategies?
Melvin Ong, international brand strategist of A.S. Louken hit the nail on the head when he said, "Branding is critical in today’s marketplace of copycats and similar products."
Branding begins and ends with a logo. This is a common misconception among business-owners and it often comes with costly consequences. So what is it? Branding is the sum of your consumers’ collective experience of your product or service. This of course includes your logo but it goes deeper than that.
Amazon founder Jeff Bezos said, "Your brand is what other people say about you when you’re not in the room."
Branding is what distinguishes you from the rest of the pack. It puts you on your consumers’ radars. It is what convinces customers to consider you, buy your product and term trust you in the long term.
Trust is every brand’s holy grail. Trust is what leads to loyalty and loyalty is what allows every business to enjoy not just bursts of profitability but also long-term success. It is that unexplainable emotional connection that makes fans out of regular buyers.
Apple is a classic example of how successful companies have built time-tested relationships with its consumers through the use of well-thought out and solid branding strategies. There is no question that Apple is a trailblazer. It turned the world upside down with game-changing ideas that have altered lives and lifestyles.
So why do people still use Apple as a yardstick for the choices they make when say buying a phone or a laptop? That can be it great part attributed to the power of branding.
On April 26, you will have the rare opportunity to get an inside look at how the big boys play the game in a seminar called Branding for Global Success.
A.S Louken's Ong will be in Manila to share his expertise on how you can elevate your business into a brand. The seminar will be held at the Ascott Residences, Bonifacio Global City.
A.S. Louken is an established brand consultancy agency with a network of offices across Asia. It has helped homegrown Singapore brands like BreadTalk and Charles & Keith conquer the cut-throat world of business.
Don’t miss your chance to go global. Register now. For details, call 634-3717, 634-0586 or 638-3149 to 50 or email [email protected].
Franchise Talk is a content partnership of ABS-CBNNews.com with Francorp Philippines. For more on franchising, contact Sam Christopher Lim at [email protected] or visit www.francorp.com.ph
About the author:
Sam Christopher Lim is the senior vice-president for marketing & strategy at Francorp Philippines. He has over a decade of global marketing experience from Bangkok, Shanghai and most recently London. He is a multi-awarded marketer who graduated with distinction from Oxford University and was awarded with the Young Market Masters award. He is also currently Chair for ASEAN integration for the Philippine Franchise Association