| How to Launch Your Brand . . . for Service Companies |
Brand is one of the overriding requirements for products. Brands create awareness, improve appeal and influences perception of a product.
Many service companies don’t work hard on their brand because they don’t think they can do it without a product. But service companies are missing out on so many benefits of branding – awareness, appeal, influence – as well as allowing for charging a higher fee.
To brand a service successfully, you need to understand four differences between product branding and service branding:
Service companies have smaller target markets
Companies that sell products can enjoy marketing to larger target markets because they can ship their products all over the world. Of course, they do better concentrating on a smaller market, but that is their choice; service companies generally have to market to a demographic that is close to their shop.
Service companies should use brochure printing instead of television commercials; flyers instead of catalogs. Their services can’t travel far, so they need to buckle down and target their market to a small niche, often by demographics.
Service companies can’t focus on how they are different
Most service companies provide the same kind of service as their competitor so it’s not worth it to spend too much time on saying how a service company differs from the next.
Instead, service companies should focus on being relevant to their target market. The service brand should fuse the needs and wants of the customer with the values and character of the company. Communicate how you help your customers and how reliable you are. Show the customer that you are in line with their life philosophy – whether that’s working hard in a serious environment or working hard in a fun environment.
Service companies don’t have to worry about market share
Companies like Nike or Ford worry about their market position all the time and try to brand themselves as the top brand and company in the market. They can do this with the number of products they sell. But it’s not so easy with service companies. You can’t be valued by the number of products left in your inventory.
Also, many service companies like accountants, lawyers and dry cleaners can all be successful based on their individual revenue. Generally shifts in product preference don’t happen to service-based companies. If a shift happens, it affects all of them, not just one. Focus on growing your revenue, not your market share.
Your employees are a bigger part of your brand in a service company
Service companies don’t have the luxury of displaying products that customers can see and test drive before buying. That means service companies must rely on their employees to emanate their brand for them.
Communicate your brand message to all of your employees – whether that be speedy service, detailed service or whatever you choose – and make sure your employees are communicating your brand ideals to every customer.
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Article Source: UnArchived Articles
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