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Welcome to the belivernomics blog

 

I will try my best to update this webpage with  thought provoking and interesting content, as often as I can.  Please feel free to leave comments as  there is much that can be learnt from the sharing of ideas.

By pa360, Dec 1 2018 11:23AM

This blog is the third in a three part series on branding. In the first blog we looked at the '7 questions that will define your brand', whilst the second focused on '7 most common brand types'. In this third blog we look at '10 uncommon characteristics of incredibly successful brands'.


So, why is it so important to focus on 'uncommon characteristics'? Well, the reason why brands become incredibly successful is not just because they think the things that others do, it is because they think the things that others haven't thought of yet. An uncommon characteristic therefore, is not what it takes to fit in, it is what is required to stand out. Incredible success, is attributable to the nuance and point of distinction that differentiates a steady pace from rapid acceleration and big steps from giant strides.


Uncommon characteristics are the root system of every incredibly successful brand. They help to sway markets, drive change and deliver exceptional results. However, with or without uncommon characteristics, it is important to note that brands are defined by the lived experience of the consumer, not the artful promotion of the producer. As such, when those with whom your product or service engages, form judgements about it, then those judgements are your brand.


Incredibly successful brands do not develop simply because you work hard, or because you learn lessons, they develop because you do uncommon things. So here are 10 uncommon characteristics of incredibly successful brands.


1. they are relatable

An incredibly successful brand is relatable. As such, even if you cannot possess what it promotes, you can still aspire to what it represents. Take a Ferrari motor car, as a case in point, it is an item of ostentation that most people will never be able afford in their lifetime, but that does not stop people from relating to the brand as something that they should aspire to possess. The uncommon characteristic here is that incredibly successful brands recognise that aspiration is customisable, translatable and transferable.


2. they stay relevant

Relevance differentiates those who succeed from those who remain successful and distinguishes those who were on the journey for the ride those who stayed the course for the reward. To remain relevant, incredibly successful brands are able to master the art of conformity and surf the curve of change. The uncommon characteristic here is that incredibly successful brands are in a constant state of readiness and always anticipate the inevitability of change,


3. they never confuse sphere of reach with extent of impact

In branding, success is not about reach, distribution or even concentration it is about impact. Neither is brand ubiquity, evidence of brand influence. Incredibly successful brands recognise that being everywhere without the influence to shape anything, proves nothing. The measure of a brand's influence is its effect not its visibility. The uncommon characteristic here is that it is better to have a big impact in a small place than to be in a big place with little impact.


4. they understand that an incredible brand sells itself

Ultimately, incredible successful brands sell themselves. That is because, the strength of a brand is the measure of what your customers and competitors say about you long after your marketing and publicity campaigns are over and your budgets have been spent. The uncommon characteristic here is that no matter how much you invest in promoting the power of your brand, the value of word of mouth is always worth much more.


5. they attract imitators and drive innovation

Imitation by itself is not uncommon; but what imitation conveys, is not always commonly appreciated. Few actions will imbue a brand with authenticity, value and status more than those who choose to imitate it. Imitation establishes your brand as the benchmark and validates it as the standard against which others should compare. Similarly, because imitation triggers competition, it will often drive innovation and innovation helps to raise standards even higher. The uncommon characteristic here is that incredibly successful brands don't just actively attract imitators, they often encourage them.


6. they don't just set trends, they send messages

An incredibly successful brand does much more than affect and influence the behaviour of others; it communicates permission, validates choice and affirms action. Incredibly successful brands make a conscious effort to set the agenda and see every engagement as an opportunity to send a message. The uncommon characteristic here is that incredibly successful brands don't just set trends to change behaviour, they set them to drive the narrative.


7. they don't just attribute value to generating sales

In business, strong sales will always be a key measure of the success of an incredibly strong brand. However, the true measure of success is the extent to which you attend to the things that make you successful. I am often reminded of a comment made by the late Steve Jobs, who highlighted that the key to success is to focus on making great product rather than making a profit. The uncommon characteristic here is that, if you invest value, when you make it, others will attribute value when you produce it.


8. they see competition as a test of strength

Incredibly successful brands do not fear competition or opposition. That is because they understand that survivability, in the face of competition, is the truest test of resilience. A brand that faces competition will do one of three things; it will either concede defeat, accept the challenge or raise the stakes. The uncommon characteristic here is that incredibly successful brands find the strength to more forward, even when you try to push them back.


9. they recognise that not all loyalty is transferrable

Do you remember the 'new Coke versus classic Coke' debacle more than thirty years ago? If not, Google it as it is a fascinating account of how an incredibly strong brand can fundamentally rethink its approach, in the face of overwhelming consumer power. The point to note here is that people can develop unwavering personal identification with the brands that they patronise (Apple is another case in point). The uncommon characteristic here is that when people are passionate about your product, their loyalty is not easily transferable.


10. they don't just search for excellence, they seek out mediocrity

The search for excellence is a defining characteristic of incredible successful brands, but it is not an uncommon characteristic. Just as important, but much less common, is the fact that incredibly successful brands actively seek out mediocrity. The reason why is because they recognise that the market-place of mediocrity, is the most fertile environment for growth, expansion and improvement. The uncommon characteristic here is that incredibly successful brands obsess as much about mediocrity, as they do about excellence.


Much as this blog summarises the uncommon characteristics of incredibly successful brands, it is important to underline the fact that a number of these characteristics are scalable. As such a small start-up or medium-sized enterprise, can adopt the same habits and behaviours that will, over time, produce the same results.



By pa360, Nov 4 2018 12:35PM

In this second of a three part series on branding, we look at the seven most common types of brand.


Brands are defined by what they do, but more importantly they are defined by how customers perceive, receive and respond to them. Brands are not homogenous constructs. On the contrary, they are multi-faceted and multi-dimensional, with unique characteristics and behaviour patterns that define and drive them.


Brands fall under a number of typologies, with each functioning as its own unique economy. There are brands that are time-defined and those that derive from extreme loyalty as well as others that communicate lifestyle choice, personal vanity and social concerns. For entrepreneurs, the better they understand the classifications and characteristics that define each brand economy, the more effectively they can cultivate customers, compete successfully and increase their market presence. Nothing drives success more than the power of a brand. So here are the seven most common types of brand.


1. the bubble brand

As the name suggests, a bubble brand is one with high impact, concentrated energy and a short life. The motion picture industry is a good example of where this sort of brand is most prevalent. It is well understood that the average life-cycle of a movie, from wide release to final showing, is about 10 weeks. During this 'bubble period' the biggest single point impact will be the film's opening weekend. Thereafter, the grosses will diminish, week-on-week, until newer offerings eventually displace it at the box office. A bubble brand is therefore intended to generate as much impact and as great a value, in as short a time, as possible.


2. the loyalty brand

A loyalty brand is one where consumer allegiance derives from reasons other than the quality or performance of a product or service. Some of the best examples of loyalty brands are in the sporting world, where allegiance to a team or franchise isn't transferable or negotiable. As case in point, in 2018, the Atlanta Hawks of the National Basketball Association, finished 15th and last in Eastern Conference. Despite this, during the season, the team still managed to pull an average attendance of 14,400 at their home games. The point to note here is that a loyalty brand is resolute, even in the face of the most negative consumer experience.


3. the endorsement brand

As the name suggests, endorsement is as much a branding technique as a brand in its own right. The purpose of an endorsement is to get the consumer to do something that they probably would not have done, but for the efforts of those who endorse it. A good example of this is when celebrities promote products or services in an effort to imbue them with their own credibility and glamour. However, the most effective and powerful form of endorsement does not come from well-known personalities, but rather from the word of mouth of ordinary consumers who use a product or service, have positive experience and recommend it to others.


4. the lifestyle brand

These brands are most closely identified with the needs, wants and particular preferences of an individual's everyday life. A lifestyle brand is something that speaks to you personally or something that you can customise to reflect your choice and tastes. Examples of this type of brand are tech products such as mobile phones, upon which people rely so heavily to perform every day functions. However, lifestyle brands are also reflected in the places that people regularly go and the things that they routinely do that underpin the rhythm of their daily lives. A good example of this are the restaurants, hairdressing salons and barber shops that people visit.


5. the status brand

A status or vanity brand speaks to the socio-economic statement that a consumer wants to make about themselves, whether or not that statement is accurate. Expensive cars, high-value jewellery, designer clothes and even some tech products are all examples of brands, which are assumed to convey a certain status on those who possess or utilise them.


6. the transferable brand

A transferable brand is one with such a high trust value, that it can be used across a diverse product and service range. One of the best known examples of this is Richard Branson's Virgin brand. Over the years, the Virgin name has been lent to everything from mobile phones and financial services, to multi-media and mass transit. Not dissimilar from an endorsement, a transferable brand, once attached to a product or service, confers value and standing and therefore communicates 'permission' to trust that product or service.


7. the conscience brand

A conscience brand is a form of status branding, where the consumer seeks to make a personal and social statement about the products and services that they procure. However, distinct from a status brand, which can often be a statement of ostentation or vanity, a conscience brand is communitarian and concerned with social welfare. Some examples of this kind of brand include products and services marketed as fair-trade, responsibly sourced or recycled.


In conclusion, a brand is an economy, reflecting the personal, social and commercial preferences of consumers. Whilst some brands intersect, making it possible for businesses to market products and services across boundaries, others are completely unique and require a more sophisticated approach. In the brand economy, the key to success isn't just the quality of your product, it is the ability to understand the psychology of your customer.




By pa360, May 30 2016 11:57AM

For any new enterprise, the requirement to 'start small' is more likely to be a necessity than a preference. This is because the resource base, competitiveness and market reach, that are so characteristic of larger organisations, take time to develop.


But it is easy to forget that starting small actually offers many important strategic advantages and benefits, which are denied to organisations of greater size and with more plentiful resources. Harnessing these opportunities is crucial, because it helps to ensure that an organisation that starts small, in the short term, will be better able to grow sustainably in the longer term. Set out below are six strategic advantages of starting small.


1. maximises the value of limited resources - if you have little to work with, then you will always look to make the most of what you have. Resourcefulness is so much easier when every penny counts and when every second of productive time must be accounted for. Starting small is therefore the ideal place to learn good habits, apply good principles and model good practice. It is also worth noting that resourcefulness is scalable. As such, the practices that you apply when you are small, can also be applied as you grow.


2. builds character - to truly appreciate what it means to have much, you must first appreciate what it means to have little. Character is what you develop when you are under pressure, face tough challenges and keep going long after others have given up. If you are a small fish in a big pond you are perfectly placed to develop the resilience to survive, the courage to compete and the determination to succeed. But even more than being well placed to achieve success, those who start small are equally well placed to sustain it.


3. enables intimate relationships to develop with staff and customers - big organisations are more likely to know their stakeholders by number, whilst smaller organisations are more likely to know their stakeholders by name. To build loyalty you need to establish relationships and the most effective way to establish relationships is to get to know people and develop intimacy. This is where size offers distinct advantages to smaller organisations who are more naturally suited to developing one-to-one relationships and are therefore more likely to be rewarded with loyalty for doing so.


4. innovation is much easier - as organisations grow, structures fall into place which, over time, can become rigid and unwieldy. Needless to say, inflexible structures are often the most difficult environments within which to develop fresh thinking and implement new ideas. By contrast, one of the greatest advantages of starting small is the freedom it provides to innovate and do things differently. The more you experiment, the more you learn and the more you learn the more confident you can be about what works and what doesn't.


5. decision-making is much quicker - if you do not have to delegate or escalate, then decision-making can be much quicker. If you cannot make a quick decision, it doesn't matter whether or not you know the right answer. Speedier decision-making not only positions you to take advantage of opportunities as and when they arise, it also creates a perception of agility and organisational competence. This is crucial in building confidence amongst employees, customers and potential investors.


6. responsiveness and flexibility - one of the most valuable assets of any organisation is its capacity for responsiveness. Being responsive is more than the ability to reassess priorities and refocus effort in light of changing needs and demands; it is the ability to do so in a timely fashion. By virtue of size, smaller organisations are much better able to surf the curve of change and respond quickly as and when required.


The overarching message of this blog is that there are many distinct advantages of starting small. However, though a business might start small, the longer term aim is usually to become bigger. This is just the natural order of things because growth is an important indicator of progress and progress is an important indicator of success.


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