As a small business owner one area you should be constantly practising is learning. Learning from others, learning from case studies, learning from books. In this month’s book club I want to bring attention to a book which is not the latest or the hottest, but I believe its content has many clues that can help you in branding and marketing. Its content showcases many examples so you can compare them to each other but also you might find some similarities to your own business. It’s a real eye-opener about how big brands got to where they are now and how they have managed to stay on top. There are so many lessons which you can learn from, just from reading the stories. So a must-read book for September is:
Brand Royalty: How the World’s Top 100 Brands Thrive and Survive by Matt Haig
Why is it must-read?
Long time ago I learnt one thing; if you want to stay ahead of competition you need to do something different. Personally, I like to study bigger brands because most of them have done the journey before you so you have the opportunity to get inspired and implement it to your own situation, “making it your own”. I believe the more you know, the more opportunities you can create for your business. If you have the knowledge of what’s possible, you can take more calculated risks. Studying other brands’ stories can give you that knowledge.
1. Learning big lessons
From Adidas, Ford to Ikea and Tiffany&Co you can learn from 100 brands that stay true to their mission and ethos. Some made mistakes of diluting their brand, which didn’t work out in their favour but others have managed to enter different markets and diversified with success. Some brands focus on one core product, others have created many product categories over the years. Some brands are the pioneers and others provide an experience as the main driving force to product sales.
2. What kind of brand are you?
The book is divided into 17 chapters, with each chapter focusing on one type of brand. Are you a design brand, distinction brand or consistent brand? Which type can you identify with the most? Once you identify where you think you sit, your branding strategies may become clearer.
3. Learning about consumer’s behaviour
I found it quite fascinating that consumer’s psychological behaviour (how we react to offers and pricing in particular) don’t really change. After reading the book I concluded that even at the beginning of 1900s customers responded exactly the same to marketing and pricing tactics which are still applied today. Understanding those behaviour can help you greatly when you plan your own branding and marketing activities.
Want to be part of a group of like-minded creatives who are going through what you’re going through? We have an amazing community of emerging designers, interior designers, stylists, fashion accessory brands, artists and photographers, where we help each other to grow. This is where I encourage sharing knowledge and brand collaborations. No fakes, self-interest liars and backstabbers are allowed. Please join us here. And, feel free to share if you found this useful!
