One of the main themes of the presentation was how to use your brand to define your business and how your customers perceive your brand.
As part of the discovery process that Paul and Margaret use to help their clients define themselves so they can strategize the brand that works best for them, they typically ask these very probing questions that I want to share with you here:
- Who are your most successful competitors?
- Why do your customers or potential customers buy from these competitors?
- What advantages and benefits do your customers perceive in buying from them?
- In what ways are these competitors superior to you?
- In what ways are you superior to your competition?
- How could you improve your product or service?
- What does your customer have to be convinced of to buy from you, rather than your competition?
- What changes are you going to make in order to increase your competitive advantage?
Being able to answer these tough questions will help you chart the look, feel and philosophy of your company while defining the types of prospects that are the best match for targeting. A great exercise for establishing the next great brand — YOURS!