7 steps to creating a powerful technology brand

Price — Performance in branding

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Developing the brand promise

The promise of value must be relevant to the people or businesses a company wants to have as its customers; no business can promise everything for everyone. But it is possible to tailor a promise to meet the desires of a specific subgroup of customers, as long as that promise can be kept and as long as it doesn’t confuse anyone. That’s why a company must consider its own capabilities and its target customer segments before developing its brand message.

Branding on Benefits

Many high-tech managers are most comfortable a brand as a set of tangible, verifiable product characteristics. However, high-tech purchases involve not just technologists but also business managers and end users, who are far more interested in what a technology product does for them than in how it works. As high-tech managers come to understand this, many start changing the way they speak of their offerings. Instead of selling “products,” they sell “solutions” or “benefits.” Such a shift in thinking is not enough. A company needs to decide it wants to be in the space of product competition or brand competition. Competitors can continually match and leapfrog over one another by offering better and more features and by identifying the benefits of their products for customers

Brand promises need to be enduring

While a brand needs to make an enduring promise. Making and keeping a promise, and keeping it consistently, can be a powerful source of competitive advantage. However making too many promises, or changing them frequently, raises uncertainty and erodes brand value. There’s a high probability that truly strong brands will continue to be leaders because they make and keep a promise of value over successive generations of technologies. True, newer technologies can eclipse older ones but an enduring promise of value can buy time for a brand in the face of new technology even the face of serious lapses in product quality

Market share is not brand promise

Companies sometimes think that a leadership position in a market is a promise. However, market share, even overwhelming market share is not, a promise of value. Brand equity will distort customer perception of size and value very quickly and there is no way that a company can stay immune to if the competition focuses on it

Brands provide emotional rewards

It is very difficult for many high-tech managers to acknowledge, the idea that emotions can be so important to a company’s success. But goods and services that reside in that third level are indeed developed and positioned as a way of fulfilling a promise of value to selected customers, not simply as technologies in search of a market. How do customers feel when experiencing the benefits of the brand? Do they feel confident? Productive? Innovative? Caring? Responsible? Successful?

Brands have personality

Brands have deeper values — such things as conservative values, family values, achievement-oriented values. These are characteristics the brand would have if it had human qualities: friendly, warm, caring, confident, decisive, aggressive, or the like. They attract a customer set they are focused on and are the differentiating characteristics of the brand