Most of the small business owners we work with, have a hard time grasping the difference between a brand and a product. In their mind, being “Premium Garage Door Repair” doesn’t need a brand. Their customers are looking for something simple and just need a repair. The business owner doesn’t believe they need to invest in a brand. There’s a simple line that illustrates the importance of a brand. If Nike were to announce a hotel, you’d have a good idea of what it would look like and the services they would offer. If Marriott were to announce a shoe line, you’d be completely confused. One is a brand that has equity to it, the other is simply a name for a product.
The same question remains though, why do I need to invest in a brand? We’re a cut and dry repair service. Alright, then here’s another question. What’s the difference between your company “Premium Garage Door Repair” and your competitor “Premiere Garage Door Repair”? You may have lower prices, but what if your competitor was known for superior customer service? Their brand has been associated with professionalism, reliability and excellent customer relationships. For a consumer, they’d rather spend the extra $50 with your competitor, knowing the type of service they’ll receive then have the risk of going with you, just another repair company.
This is also the same methodology that keeps companies competitive with Amazon. While Amazon sells products at the lowest possible price, they don’t offer anything on top of it. When an online purchase is done outside of Amazon, it’s often times with a specific brand that the consumer has sentiment with.
Creating a brand is not everyone’s cup of tea. While you may know how to repair every garage in the Southeast, branding requires a thorough strategy and continuous execution to be effective. LOTUS specializes in just that and won’t break the bank.