Brand Strategy or Rebrand Derrick Daye

Brand Strategy to Launch or Rebrand – Derrick Daye

Jun 23, 2021

Brand Strategy to Launch

A brand strategy for launch, or when it’s time to rebrand is vital for the life and longevity of your brand. Brands that lead develop and implement a brand marketing strategy early in their business. A well-defined and executed brand strategy affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments.  A clear brand strategy is as important as your overall business plan. You can do amazing things with even tiny budgets, but you’ve got to figure out what you’re going to stand for in someone’s mind. First, what is that unique value? 

Your brand strategy is going to create that human side to your brand, which is required to make the connection out in the marketplace and also make the point of difference out in the marketplace. It’s really important for startups to be thinking about that at the same time early and often in the development of the brand. Launching your business with a brand strategy is vital, since you don’t want to leave it up to your customers or your competitors to define what your brand is about. You have to consciously address it, or end up having it defined for you.

“The paradox of branding is that you must change to stay consistent.
We have to evolve as brands and along the way, we have to still be recognized. We still have to stand for that thing that is important to our target customers.

–Derrick Daye

Brand Strategy to Evolve or Rebrand

Brands are never finished. They’re a river, not a pond. So that means you have to manage them. It’s not a set it and forget it thing.  You have to evolve with it. You have to understand that the brand and your brand strategy has to be managed along with that change to create an up to date marketing strategy.

Your brand must be close with your target customers, especially when thinking of evolving your existing content marketing or digital marketing strategy. This is even true when opting to rebrand, We really have to understand what matters to customers so the brand can move along with them. Brands that look ahead to the future, understand that marketing strategy is creating the future. Use content marketing as part of the rebrand marketing strategy to paint a bigger vision of what’s ahead and how that can be exciting for your audience and customers

Derrick Daye & Cheryl discuss:

  • A brand is  the sum of all experiences a customer has with you. Everything, all of the touch points, everything adds up to this one thing, and that is your brand.”
  • Each touch point where people are interacting with the brand is where the promise that you’re making to your customer must come to life.
  • Today where trust really missing in parts of our society, your brand has to be a symbol of trust to lead today.
  • Brand consistency is the backbone of trust. People watch your behaviors over time. They come to trust those behaviors and that’s a result of consistency. So if you are making changes with your brand, they should be evolutionary rather than revolutionary. A complete rebrand may not be in order, but evolution of your existing brand.
  • Every action we do take, we have to be careful. And the moves we’re making and they have to be purposeful and they have to be on brand. They have to be meaningful to our target customers.

Takeaways from this episode:

  • Brands are never finished. They’re a river, not a pond. So that means you have to manage them. It’s not a set it and forget it thing.  You have to evolve with it. You have to understand that the brand has to be managed along with that change.
  • The fundamentals of brand management transcend all business inquiries in all stages of a business’s development. And as far as when you should be thinking about this is in the embryonic stages of your brand, you think about a business plan. At the same time, you should be thinking about your brand strategy.
  • The brands that look ahead to the future understand that marketing is something that creates the future. They can use that to paint this bigger vision in their marketing strategy of what’s ahead and how that can be exciting for their target customers.

Website: brandaide.com 
Book: https://registeredtrademarkbook.com 
Twitter:  twitter.com/brandaide 
Facebook:  facebook.com/brandaide 
Email:  cheryl@brandaide.com 
Show: brandrevolution.show 
YouTube: youtube.com/user/BrandaideTV 
LinkedIn: linkedin.com/in/cherylhodgson 
Instagram:  instagram.com/brandaide
Pinterest: https://www.pinterest.com/brandaide1/

Narrator: Today on the Brand Revolution Podcast.
[00:00:03] Derick Daye: A place that I like to start when I'm first working with brands as a strategist is asking the simple, yet critical question. What would the world miss if your brand did not exist? And if the answer is. Then I know that we have a lot of work to do
[00:00:27] Narrator: Welcome to Brand Revolution, where we answer the question, what does it take to launch your own brand revolution, create evolution and who are the people that help you foster connection, community, contribution, and currency for a brand built to last. You'll also meet brands changing the world and the lives of those they serve.
[00:00:47] Here's your host, Cheryl Hodgson.
[00:00:51] Cheryl Hodgson: My guest Derrick Daye is managing partner of the Blake Project and founder of Brand Strategy Insider. For over 25 years, Derrick has helped organizations release the full potential of their brands. Derrick began in global advertising at Saatchi and Saatchi before founding the Blake Project in 2003.
[00:01:13] Today, Brand Strategy Insider serves 50,000 marketer's daily and has been recognized by Advertising Age as the leading online source for brand strategy and management.
[00:01:27] Welcome to the show, Derick Daye.
[00:01:31] Welcome Derick. Nice to have you here today.
[00:01:34] Derick Daye: Oh, thank you, Cheryl. It's great to join you and your listeners.
[00:01:39] Cheryl Hodgson: I'd like to start out with discussing with you a quote that I found that you've been quoted as saying, which I absolutely love, "The paradox of branding is that you must change to stay consistent."
[00:01:52] That is a paradox, isn't it?
[00:01:54] Derick Daye: It is a paradox. and that's what we have to do. We have to evolve as brands and along the way, we have to still be recognized, right? We still have to stand for that thing that is important to our target customers.
[00:02:10] Cheryl Hodgson: Isn't that true for us as people as well, we have to evolve.
[00:02:14] We have to keep changing, right, in our own lives.
[00:02:18] Derick Daye: Yes. If we want to, I guess progress in our careers or even on our own learning journeys, we've got to be open to change and new ideas and face the facts that maybe there's better ideas out there.
[00:02:34] Cheryl Hodgson: How does the consistency figure in to that you have to go through change in order to stay consistent?
[00:02:44] Derick Daye: Yeah. Well, I think one way to look at that is when it comes to brands, consistency is really the backbone of trust. People watch your behaviors over time. They come to trust those behaviors and that's a result of consistency. So if you are making changes, with your brand, they should be evolutionary rather than revolutionary.
[00:03:11] Unless there's a rare case when you're just, you have a lot of bad associations for your brand and then you have to do a name change, and then you're taking on a completely new identity. And then, you get a clean slate there, but staying consistent is one of those keys. You absolutely have to, think about it, to evolve as a brand and go on to grow the brand and be successful.
[00:03:39] Cheryl Hodgson: So that evolutionary brings up the word “innovation” for me, in some level. But I think it's more than that. You touched on a couple of things there, one is the consistency factor, which is just thinking about it in my own life. I, as a consumer, I want to know that the products I love or the services I rely upon are going to be there the way they have been before.
[00:04:06] At the same time, the example that comes to mind to me is, which sounds odd, but you know, restaurants tend to be somewhat faddish. Many of them, they come and go, what's the new hot restaurant of the day. And then even if, no matter how popular it is, unless they evolve into creating something new to keep their customers coming back.
[00:04:31] If it's just the same old menu, why do I want to go there? It loses its... I don't know, is that an example of what you're talking about?
[00:04:40] Derick Daye: Yeah. And, I think that feeds into, just the idea of evolving and to do that, we really have to be close with our target customers.
[00:04:50] We really have to understand what matters to them so we can move along with them. It's hard for a lot of people and certainly brands to change. It's not popular and we really want things to stay the same, especially when they're good. But the brands that really look ahead to the future, they understand that marketing is something that creates the future and they can use that to paint this bigger vision of what's ahead and how that can be exciting for their target customers. But it goes back; especially today where trust is, let's just say it's in some areas of our society, it's really missing. For brands to lead today, they have to really be a symbol of trust.
[00:05:41] When they make bold moves, they have to be sure to bring everyone along in those moves and they can do that by building off of what made them great in the first place. So it's a real clear evolution, we're moving from here to here and it makes sense to those that matter most to your future.
[00:06:01]Cheryl Hodgson: you make me feel very good talking about evolution, because I don't even know if you realize this, that's the tagline of my podcast is revolution evolution, because it seems to me that, brands are about, at some point it's only one aspect, but they are about companies and businesses or brands that are creating, they're evolving something in there. They may be creating a revolution to begin with some new product or service.
Not literally, but metaphorically and then evolving the marketplace as they continue to grow.
[00:06:34] Derick Daye: I think your tagline, Cheryl, it makes me think of my favorite quote from Peter Drucker, who's the father of modern business management. "If you want something new, you have to stop doing something old and that's the world we're in today." We have to embrace change. We have to. It is coming at us, whether we like it or not.
[00:06:58] Cheryl Hodgson: We've all been facing that in the last few weeks, right?
[00:07:01] Derick Daye: Yes. And if we don't like change, we're going to dislike indifference and irrelevance even more. So, it's time for us to all just open up and say, I'm ready for what's next? What are those possibilities?
[00:07:18] Cheryl Hodgson: That also reminds me in a different context, but it's also applicable as who was an Albert Einstein, who said the definition of insanity is doing the same thing over and over again, expecting a different result when. So that's whether it's in your life or a brand or anything. If you're not getting the result you want, you need to change and evolve.
[00:07:39] Derick Daye: Change is a big part of our conversation these days, because the speed of it. It's coming at us faster than ever before. And we see that in a business context and even in a personal context, in how we have more access to information than we've ever had before. So we're trying to move at these great paces and your customers are trying to make that leap to, and you can be that kind of, that steady part of their lives to help them cross that bridge. But there's some fundamentals that you have to get, you have to get together.
[00:08:18]Cheryl Hodgson: then let's talk about some of those fundamentals because you and I, before we started recording the interview, we were chatting a little bit about some of the basics about branding. I come at it from the legal perspective, which has been my background for many years, but I'm also over the last decade, been much more interested about what I didn't know in terms of the brand conversation. And that really has had me intrigued with people, such as yourself who have that real ability and hands on experience with creating and building and managing brands. So one of the simple questions I have is, there are many definitions of a brand, but what's your favorite.
[00:08:59]Derick Daye: my favorite definition of a brand is “it's the sum of all experiences a customer has with you. Everything, all of the touch points, everything adds up to this one thing, and that is your brand.”
[00:09:13] As marketers, unfortunately, we have not done a very good job of marketing. And so that's why we live in a world today where marketers have 15 accepted definitions.
[00:09:25] And in my work with a wide range of brands. The conversation usually starts in our first strategy session of just that what is a brand, so we can get everybody on the same page, thinking about brands in the same way and what I think it's very, eloquent to think that wow, every action that we take in the marketplace is building up to this thing called the brand.
[00:09:51] And that reminds us that every action we do take, we have to be careful. And the moves we're making and they have to be purposeful and they have to be on brand. They have to be meaningful to our target customers.
[00:10:09]Cheryl Hodgson: that's actually, it's very powerful and reassuring to me in my own journey because without the professional branding experience from years ago that you have. I always felt especially since the internet started and that's really part of my mission and my message with not only the audience on the podcast, but even my clients. It's not one thing. There are so many aspects. It's the culmination of that amalgamation of all these little things that you do, that you can't implement them all at one time, but that's the sum of those parts is what gives you the consumer experience you're talking about?
[00:10:49] Derick Daye: Yeah. Part of just thinking about a brand and for some of your listeners, regardless of what kind of business they're in or these ads about a business. What they really want to do is take their customer's journey and record each one of those touch points. It can be from the receptionist, all the way to the website. There could be touchpoints even in between where people are interacting with the brand and each one of those touch points is where the promise that you're making to your customers’ needs to come to life. And that's one of those fundamentals. There shouldn't be any inconsistencies. And that ties back to that earlier trust conversation, consistency builds brands.
[00:11:37] Cheryl Hodgson: And that's what builds the trust, right? Is that what you're saying? Is that where the trust comes from?
[00:11:42] Derick Daye: That's right. That's exactly right. Cheryl. Here's another problem that can happen when years go by. All this time, you're encoding value in people's minds, or you're encoding an idea in people's minds. And what you may find out is you end up standing for something that isn't exactly what you're all about and does incur it in advantage for you in the marketplace. But the problem with that is, people think about you in different ways, but then when you come back to do the strategic work, you find out that minds hate to change. They think about you in a certain way. It's a, think about your name, Cheryl. You've had that name, your whole life, and if someone, tomorrow you started telling everyone your name was Lisa, it would be very hard for people to accept that and remember that. The same is true for brands. But of course you're encoding a lot more, in your mind about them than just the name, but
[00:12:59] Cheryl Hodgson: Absolutely. And I think where that comes up first and foremost is something you've already, you spoke about a few minutes ago, which is, the example of, customers or our employees coming saying, what is our brand all about to management, right? Because it wasn't clear what their messaging was and what they're differentiating, what differentiation was or what they were doing for the world, so that the consumer experience and the people who are on the front lines, didn't have a clear vision to communicate to the customer when they were interacting.
To me, there's no better example of that has traditionally been in the States has been in the airlines in the States. They're getting better. Finally in the last several years, but they have the worst customer service in the world, and I liked, I interviewed Alan Adamson a few years ago.
[00:13:52] Derick Daye: Sure. I know Alan. Yes.
[00:13:54] Cheryl Hodgson: So I just love his books, and one of the things he said is, And this should give reassurance to the young brand that you have to remember, you may not, they may often feel like the reason why they don't take on branding, I think is because they think, I can't afford it.
How do I afford this part of that when I'm launching? But at the same time, as Alan said to me, he said, you know, it's a lot easier to make a change when you have a team of five people and embrace what the culture is going to be and grow it from there than it is to turn around the culture. When you have 20,000 employees or a hundred thousand employees, that's not going to be an easy ship to change directions with.
[00:14:38] Derick Daye: Yeah. And we see entrepreneurs that are very brand oriented. And they're hot and there's no excuses and benefit from building a brand. And they think about it very early on and they do something about it.
So basically you have serious people like entrepreneurs like that I just described. And then you have the curious people who think it'd be nice to have a brand, but they don't really take any action. Those aren't the brands that we find leading in our world or others. Those are the companies that we find leading in our world.
They really haven't thought it through. And so a brand is, becomes your most valuable asset over time. So you've got to ask yourself, shouldn't I be thinking about this right at the earliest stages of what we're doing here? And don't confuse building a brand with a big
You can do amazing things with even tiny budgets, but you've got to figure out what you're going to stand for in someone's mind. First, what is that unique value? That's going to set you apart.
[00:15:52]Cheryl Hodgson: that's music to my ears because I try to preach that to people all the time from the legal protection standpoint.
Are there brands you could spend a couple of thousand dollars early on and have something for the future, or you may wait, do nothing and lose it all because you either get sued or somebody else. Takes your name and they would have every right to do so and most of the world. it's up to you.
I can't force you to do it, but that's my message is, make an informed decision.
[00:16:21] Derick Daye: You mentioned something a moment ago and I just wanted to touch on it because it is a question that I get from time to time. And that is, I see these airline brands like United and their planes are always full. They can drag customers down the aisle and their planes are still full. So what gives with that? And, here's the thing. There are some business categories like airlines, where it's all about utility. There are not enough flights. There's not enough aircraft. So they're going to fill the plane regardless. And that's where United finds itself in. If it was in any other business category, they would have gone out of business or they've been forced to change their names.
[00:17:03] Cheryl Hodgson: Exactly. If I treated my clients that way, I wouldn't have any.
[00:17:08] Derick Daye: Oh, high arrogance. now there is (crosstalk)
[00:17:13] Cheryl Hodgson: And I think, in fairness, I think so much of that. For the last 20 years, they went through so many mergers and trying to combine the cultures. And then there were companies like American where the, and this is public knowledge, the executives, the first time they went into bankruptcy and the employees took a 40% haircut on their pensions and their payroll, the pilots as well on their flight, in their salaries. It turns out that the upper echelon management had a secret pension fund. And of course they were immune from all of that. So it didn't build much camaraderie or loyalty to the company within the 50,000, a hundred thousand employees worldwide, cause they weren't being treated fairly either.
[00:17:59] Derick Daye: Even airlines have to think about their brands, even though they're in this utility space, an example of, sometimes you have to do a brand name changes. There was an unfortunately a bad accident with the airline called Value Jet many years ago. And they understood that they had to change their name, which they changed it to AirTran.
And then eventually Southwest bought AirTran. There are brand considerations at play, even in the airline category. I say, even if you're very successful business right now, and you haven't thought about your brand, or you think that you're one of these utility brands where you can do whatever you want, you're still going to stay in business.
Things are always changing and fortunes change too. So be thinking about, your brand. How is today's crisis your brand right now? And how are you responding to that? Or, have you taken a walk around what you offer and determined ways that you can increase its value or repackage the value that you present to people. Some businesses, and you've mentioned restaurants early on. They're having to look at that now. They're having to say, Hey, this is now about, a race to see who can get the most to go orders.
[00:19:20] Cheryl Hodgson: Right
[00:19:20] Derick Daye: And what's my to go order strategy? Do I have it? And have I built up a big enough brand in the marketplace for people that think of me. This is where brands are really important. We live in a highly competitive environment where there will be winners losers regardless of the situation. And we're going to see the winners are the brands today. Not those that have just thought it would be nice to have a brand.
[00:19:48]Cheryl Hodgson: Exactly. I want to thank you so much for this discussion.
[00:19:51] I think we could probably continue for quite a long time, cause it's such an interesting discussion. So I'd love to invite you back again and continue on.
[00:20:00] Derick Daye: Thank you, Cheryl. Thank you.
[00:20:02] Cheryl Hodgson: Before you go, I always like to ask a couple of things that are a little less business oriented. Number one, what is there something about you personally that most people wouldn't know about?
[00:20:14]Something about you that, makes you tick?
[00:20:17]Derick Daye: Something about me, I would have to say Cheryl, long walks on the beach. That's a tough question for me because I, I think I'm private in that sense, but, I would have to say that I've really loved the outdoors and I love everything about it.
[00:20:34] And I think we need to appreciate what we have outdoors and we need to be in it and protect that. Just like we're protecting our brands. We need to protect the environment that's keeping us alive.
[00:20:48]Cheryl Hodgson: That's great. And yeah, and I that's it, I've had all kinds of answers of people who have won contest who have done all kinds of weird things.
[00:20:55] So it's an interesting question to evoke, but that's fabulous because that is, it's an important part of our being as humans. We do have an amazing planet. And speaking of which, what if anything you have this there's something for 2020 on your bucket list that you aspire to, that you haven't yet tackled in your career or personally.
[00:21:16]Derick Daye: 2020
[00:21:18] Cheryl Hodgson: Or beyond.
[00:21:21] Derick Daye: I've got this issue that I'm optimistic, cautiously optimistic. I do think 2020 can be a great year despite of, despite all the things that are happening. So my thought on that is rather than pin point a thing that I'm going to accomplish or a thing that I'm going to work towards, I'm going to challenge myself to keep that, the mindset of being an optimist and stay optimistic. Because with that lens, I will see opportunities that a pessimist never sees.
[00:21:56] Cheryl Hodgson: Wow.
[00:21:57]That is wonderful. Thank you so much. That's a really, that's a perfect ending. I couldn't have come up with it myself. So thank you so much for joining us and, I hope everyone tunes in and hears this episode. We look forward to seeing you on the next episode of the Brand Revolution Show.
[00:22:16] Derick Daye: Thank you.
When you do this work. Done correctly, a brand exstension will help you extend it to other business categories away from the original business category that you were in a couple examples that would be IBM. IBM used to make computers. They stopped doing that a long time ago, they were successful in moving into professional services and other areas because they stood for something in their customer's mind, more than the thing that they may a more recent example in the last couple of years.
[00:22:55] And this may be a surprise to some of your listeners. Coca-Cola became the number three shoe brand in Brazil, overtaking Converse. And that's because this was a licensing deal, which is right up your alley. But, they could stand for something in that marketplace more than sugared water. So it's all about being extendable and that's really key for brands.
And so back to your original comment about making brands. Did that rather creating names that lock you in to the thing that you do? It's a mistake. It's a mistake. You can't get out of the trap you've created for yourself. If you want to grow into other categories, you have to be able to, have a name that allows you to do that.
[00:23:45] I think it's been about a year and a half now, but Dunkin Donuts, they dropped the word donuts.
[00:23:51]Cheryl Hodgson: You know what? I am going to quote you on this, if that's okay, because it's really music to my ears to hear someone with your background and your level of experience too, that really understands and embraces that because I'll share with you just a couple of quick little things.
[00:24:08] Examples for me is, I have some dear friends who I hope to have on the podcast because they built an amazing company. But 35 years ago or 30 years ago, when they started a little product with one medical product and a small town in Oregon, he was a medical doctor and he came up in orthopedics with this thing that revolutionized emergency medicine.
[00:24:30] And it was called, his name is Sam, but they had an acronym. It's the Sam Splint. I was a very young lawyer that time and I actually registered their trademark, but at least I was smart enough not to put the word splint in the trademark registration, just the word Sam. 30 years later, they are now, on the way to being possibly a hundred-million-dollar company.
[00:24:51] And they have many products, but they weren't limited by having that generic name and the registration. So the word Sam could go on to become, still be used and extend them into other product lines. So that's my personal story about that. And then the other thing is that, and this is where I see what you're saying, that they can't go anywhere.
This is a very recent personal experience. you go on the internet, all these apps in the app store. To me, that's like the best example of anything I can say is I've been looking for a good teleprompter. So when I record videos, right? And, I was our stand where you can create, turn your iPad into a tele prompter.
And the problem is they all have the same name. You go in the app store and there's 30 of them. And they all say, teleprompt with this teleprompter with that, and you come back to it. And you don't know which one is which. Even if you've purchased from them, you don't remember who you purchase from because they don't have any brand recognition.
[00:25:56] Derick Daye: Yeah. You bring up a problem that, some people recognize, others may not. It's something called brand erosion. And that happens when your brand becomes a verb. So Xerox this for me, which means another word for copy something. Even though that's, you're using, you're not using Xerox paper to do it, or you're not using a Xerox machine to copy for you.
Lots of examples out there can be a Kleenex, even though it may not be a Kleenex branded tissue. So teleprompter, you use a great example. So the people that made teleprompter, they lost control of their brand and it turned into a verb that everyone uses and no one specifically looks for the teleprompter brand.
[00:26:38] So the way that brands get around it is they actually say in their packaging Kleenex brand choose the next tissues. They're trying to get you to come back and understand that these other tissues are not the same. Some people think there's a school of thought out there that, wow, my name became a verb.
[00:26:58] So everyone is using my name everywhere I go. I hear it. So it must be good, but actually you have to be able to draw a line from that usage to sales. And so if other people are benefiting from, using the teleprompter, then it should have been, it should have been protected. And they should have made sure that it is something exclusive to themselves.
[00:27:23]Cheryl Hodgson: And I give those types of examples all the time because it's Xerox, is the King of having, educated the public about their own brand and saved it because, when photocopiers first came out, it was the Xerox brand that was Xerox that created it. And so people started saying, would you go Xerox this for me?
[00:27:45] And they literally spent multi-millions hundreds of millions of dollars saving their brand from becoming generic and absorbed into the English language, by educating the public. And some of their ads are hysterical. They're very funny, don't let us go the way of the zipper. Don't, here's the trademark graveyard of all the peak brands that became generic.
[00:28:07]So it's an interesting area.
[00:28:09] Derick Daye: Here. Here's a thought, Cheryl, that I think it's important for everyone to know is brands are never finished. They're a river, not a pond. So that means you have to manage them. It's not a set it and forget it thing. Our world, as we talked earlier, it's always changing.
[00:28:28] You have to evolve with it. You have to understand that the brand has to be managed along with that change. So when we talk about these examples, like teleprompter, it's easy to find those that didn't manage their brand or didn't. I understand the value that they had at the time. today, the marketers and certainly businesses are much more sophisticated.
[00:28:51] So they are looking at all of these issues very carefully and they're watching it very closely, but still, I'm still surprised in working with even established brands, how you I'll run into brands that are just, have let their brand drift, or they're not putting the money into their brand, that they should.
[00:29:14] It's brands that matter in tough times. That's one of the things that, that brands do for you. People have this sense of connection and there's a certain safety that comes from that relationship with the brand. And so they lean on that brand in tougher times. And without a brand, you really are just, you're a commodity, right?
[00:29:35] You're a commodity you're out in the marketplace and you're just simply in a price war, that's all there is to you. So no matter what you are doing in the marketplace, you need to be thinking of your brand. Another way that I like to look at brands and what their meaning is in the world is by asking the question, what is your enemy?
And what I mean by that is it's not your competition. It's about what is that big thing out in the world that is conflicting or competing with your purpose. And it's the same thing that's getting in the way of what your customers are trying to get done. So if you know who or rather what that enemy is, and you can get out in front and, go on the offensive against that enemy, you can help your customer and also win. And, one example would be Tom's shoes. So Tom's shoes for those who don't know Tom's shoes, there's a one for one program. Every pair you buy a child without any shoes in Africa, gets a pair of shoes. So Tom's shoes, their enemy is not another shoe brand, it's children that do not have units bare feet.
[00:30:56] Bare feet is their enemy?
Cheryl Hodgson: That's one of my favorite examples. I've done a blog post on them when they first launched years ago, for that very reason, because there's been so many companies since then, Warby Parker, for example, that have embraced that same model of buy one, give one.
[00:31:16] Derick Daye: It's interesting though.
[00:31:17] Cheryl, how many folks that could be listening to us today that don't know who the enemy is of their brand? They haven't thought about it. So what is that big thing that you're taking on in the world that if you win, your customer wins and they understand that they're winning because of you. So really thinking that through now, another example is, I was working in the fall with a brand, actually, a cell phone brand that really just services rural communities.
[00:31:48] And they can get to places that AT&T mobile, Verizon can't get to. So that's, their specialty is getting into these hard-to-reach places. Now, they decided in a strategy workshop that I did with them, they decided that their brand was all about bringing people together. So the enemy of their brand was isolation.
[00:32:13] And knowing that, that moved them to a place where we need to have our brand visible at state fairs and country stores and places that bring our customers together. In those hard-to-reach places. So we can reinforce that we're taking, we're a brand that brings people together and we're taking on isolation.
[00:32:37] So it's yet another piece of the rudder that steers the ship, which is your brand.
[00:32:44]Cheryl Hodgson: I want to ask you a question because I know you work with a lot of us established brands, which would be typical, but if you're not necessarily just starting out today, but if you've got a business for a while, but yet you're still are not a major company, but you know, you're getting some traction.
[00:33:01] What is your advice as to when the issue of branding and thinking about your brand? When does that come up in the business cycle for an entrepreneur?
[00:33:10] Derick Daye: I'm really glad you asked that Cheryl, and you're right. I've spent most of my career working with larger brands, national and global brands, but I've also worked with quite a few startups and emerging brands.
The good news is, that the fundamentals of brand management transcend all business inquiries in all stages of a business's development. And as far as when you should be thinking about this is in the embryonic stages of your brand, you think about a business plan. At the same time, you should be thinking about your brand strategy.
Your brand strategy is going to create that human side to your brand, which is required to make the connection out in the marketplace and also make the point of difference out in the marketplace. It's really important for startups to be thinking about that at the same time early and often in the development of the brand.
If you haven't done this work, you're, let's say you're three years into it. And I've, I recently was working in Amsterdam with a startup watch company for millennial women and essentially they got out in the marketplace, they hadn't done any of this brand strategy work. And they were very successful in a short period of time, with a hundred-million-dollar brand in three years’ time and 130 employees.
[00:34:39] And what happened was these employees started to come to them saying, what's our brand all about, just guessing. What's going on here? So they realized they needed to now get serious about their brand. We went through some extensive branding work to answer those big questions. And what happens every time at the end of that work is the founder says, boy, I wish I should have done, I did this three years ago. We wouldn't have done this or this. And we would have saved money here. It's just like a boat without a rudder. Sometimes you drift into a great place. And other times you drift into bad waters.
[00:35:18] Cheryl Hodgson: Right, if you don't know where you're going, you will end up someplace.
[00:35:22] Derick Daye: That's exactly right. And if the answer is not much, we know that we have a lot of work to do the whole idea about building a business is creating value in the marketplace and you can pretty much gauge the value of your business by obviously how big it's grown. That's certainly a big gauge. How much it's having on, having in the world.
[00:35:47] But we have to start with that first question. What would the world miss if your brand did not exist?
[00:35:54] Cheryl Hodgson: That's hard to face. It can be very hard to face.
[00:35:57]Derick Daye: It is hard to face. One of the reasons it's hard to face is this big temptation out in the world to copy from others. And you've got to resist the temptation and think about what the new value can I create. And there's ways to differentiate, no matter what business you're in. There was a time, Cheryl, where someone would have laughed at you if you said you were going to launch a water brand, right?
[00:36:28] Cheryl Hodgson: Absolutely. It's true.
[00:36:30] Derick Daye: Tasteless, odorless makes up 70 plus percent of our planet, 65 plus percent of our bodies. There are thousands and thousands of water brands, some of which have been very successful and quite lucrative and you can ask Nestle waters about that, which owns many of those top brands. So if water can be differentiated, certainly your brand can be differentiated as well.
And just let me use an example from the law profession, Gloria Allred.
[00:37:04] Cheryl Hodgson: Yes.
[00:37:05] Derick Daye: She has differentiated herself just by focusing on cases where women's rights were diminished or, there were cases where women have been violated and she's stepped in and built a brand around helping those women.
[00:37:23] Cheryl Hodgson: Yeah, that's a really powerful message because so many professionals, whether it's doctors, lawyers, not so much doctors, but lawyers in particular, real estate professionals, CPA, anybody in a professional service business. I could even be a dentist I suppose, and have the same issue, but it's how do they differentiate themselves one from another, because at some level that service is something so many other people offer and what makes you, or me different in that regard?
[00:37:52] Derick Daye: Yes. I wish that, especially in professional services, I wish more executives took a moment to think about what makes your business different and think about the fundamentals.
Another thought to get us there is to first look at the emotions that you're trying to evoke. And just asking a simple question. If you could make your customers feel one thing, what would it be? And think about the touch points that could be created around that emotion. If it's law, I'm sure confidence is in there.
[00:38:31] I'm sure there are other, other things we could use to describe that, but we've got to start with the big questions and answer them if we're going to be able to move away from our competition, which is a big part of being a brand. That's why you want to have that brand. It builds an advantage for you.
[00:38:50]Cheryl Hodgson: Here's the, now we're getting into something near and dear to my heart, which I would really, I'd like to go a little deeper on that because I've struggled with this ever since the internet started from not personally as a lawyer, but as a lawyer, trying to advise clients who come to me and they, they've decided, okay, they want to protect some sort of brand.
[00:39:12] The challenge is, when the internet particularly first launched. And I don't know if you've run into this, but, I think it's pretty common. It started when the internet marketers, and first the internet, 15, 20 years ago, it was all about, a land grab, how many descriptive domains could you buy up?
[00:39:30] Could you be hotels.com? Could you be liquor.com, whatever. And so then there's this internet marketing myth. I don't necessarily say it's a myth because there's validity to it, but it's one dimensional. Where it's you don't need anything, but a descriptive domain name that tells people exactly what you do.
[00:39:49] My response to that is that may be great for a specific marketing campaign, but it's not a brand. And so I ended up with probably half the people who come to me have a trademark that really can't be protected because it's so descriptive as to what they do. And so that's one of the areas that I think is a really challenged to have people.
[00:40:17] And my response is something usually pretty simple but if you look at who stands out on the internet, Amazon, eBay, Google, you can go on. They're not descriptive names. they have a distinctive element to them.
[00:40:31] Derick Daye: Yeah, they do. and we call those coined names. A real good example of that would be Kodak.
[00:40:38] So Kodak meant nothing to anyone when it was George Eastman first named the company and, calling names of course, you have a basically a word or some letters, or even, perhaps a symbol. and if you think of it like a vessel, you pour the meaning into it. So it means something when you're done pouring. When you build all these associations around that name to make it into something. Really strong brands, they're powered by this concept called brand essence, which is the heart and soul of a brand and a brand essence, it is typically in, and I'm going to take us all down this kind of strategy road for a moment.
[00:41:18] It's for internal consumption. Any brand worth anything knows it's brand essence. And they've defined this. So let me give you an example. It's typically yeah. Three-word format, adjective, noun, Starbucks, rewarding, everyday moments. So every decision that's made is made with that in mind. Could this new employee reward everyday moments? Does this coffee bean reward everyday moments? Is this new pricing strategy rewarding everyday moments?
[00:41:50] Everything has to be aligned with that. If it doesn't. You don't do it. And a name also has to be part of that. And, as well, that is a star of the brand and if done correctly it can extend you into areas.
[00:42:08] Cheryl Hodgson: Derrick, how could the audience connect with you if they'd like to learn more?
[00:42:14] Derick Daye: Real simple, couple of different ways.
[00:42:16] You can find me on Twitter @DerickDaye. That's D E R I C K D A Y E. Also at the Blake project. theBlakeproject.com and brandingstrategyinsider.com is another place.
[00:42:31] Cheryl Hodgson: Okay, thank you.
[00:42:34] Whether you are CEO of your own evolving brand or you were serving as guide and mentor to other emerging brand owners, it's important to include legal protection for valuable brand assets, brand names and logos, as well as other intellectual property are often the most valuable business assets a company will ever own. Registered trademarks or product names, logos and slogans are a potent weapon against domain hijackers, cybersquatters as well as other later entrance into the market.
[00:43:08] In my international bestselling book, Registered Trademark, The business owner's guide to brand protection. I reveal my simple three step process to help select, secure, and sustain protection for your own brand dream team. And I'll share how to Bulletproof your business both online and off.
[00:43:28] As my special gift to our listeners, you can receive a free copy of my book. Simply go to brand aide. With an e.com forward slash free gift to receive your copy today, and you'll pay only for shipping and handling.
[00:43:44] Thanks for downloading this episode. Make sure you also take a moment and follow Brand Revolution on Facebook, Twitter, and on Instagram @brandaide. To subscribe, Text Subscribe to 220-BRANDIT. And we'll let you know when new episodes have landed.

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Select | Secure | Sustain

My three-step system for a brand

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The Business Owners Guide to Brand Protection reveals my proven three-step system to bullet proof your brand assets online and off, while you build a lasting legacy.