The 5 Laws of Brand Building
Lesson 4 from: Brand Strategy BootcampScott Lancaster
The 5 Laws of Brand Building
Lesson 4 from: Brand Strategy BootcampScott Lancaster
Lesson Info
4. The 5 Laws of Brand Building
Lessons
Welcome To Brand Strategy Bootcamp
01:32 2The Brand Building Framework
03:28 3Branding 101
05:17 4The 5 Laws of Brand Building
06:34 5The Successful Founder's Mindset
04:13 6The Scientific Reason Why Brands Grow
04:14 7Verifying Your Business Idea
03:05 8Understanding Brand Positioning
03:44Lesson Info
The 5 Laws of Brand Building
1 (sophisticated string music) 2 "The 22 Immutable Laws of Branding," 3 one of the most famous books on branding still today, 4 but let's be honest for a second. 5 The 22 laws are great, 6 but they're not really actionable 7 for someone just starting out 8 with a brand at the very beginning of their journey, 9 and most of these laws are only actually useful 10 for established companies, 11 so it's kinda like me finding the ring 12 for my wife before I've even met my wife. 13 But you already have a wife. 14 I know, I'm aware of that. 15 And you already gave her a ring. 16 Okay, thank you. 17 Yeah, but the ring you got her has a tiny diamond. 18 I think she'd like something a little bit bigger. 19 Well, it's a great shame she didn't marry you then, 20 isn't it Romeo? 21 As I was saying, you're an entrepreneur 22 just starting your brand building journey, 23 so it's super important 24 to keep things as simple as possible at this moment in time. 25 So I carefully selected the...
five most important lessons 26 for you personally that I would focus on, 27 and these are the five that I've personally implemented 28 into my own businesses, 29 because in the 21st century, 30 it is super hard to stand out from the noise. 31 The customers that you're trying 32 to sell to have never had more options. 33 So it's even more important for your brand to stand out, 34 and that's why it's never been more important 35 to have one product focus. 36 Nike started just selling running shoes, 37 Apple with personal computers, Amazon with books, 38 and McDonald's started just selling burgers and fries. 39 Chick-fil-A still limits the amount of items 40 that they sell on their menu 41 because they understand the power 42 of the one product-focused approach. 43 The list of brands that started this way is endless, 44 and this is why you should too. 45 First, the one product-focused approach allows you 46 to get really great at selling just one single thing. 47 This allows you to cut costs, channel all of your resources 48 and energy into one single product, 49 and therefore, become as profitable as possible, 50 as soon as possible. 51 This cuts down all unnecessary costs and waste, 52 and allows you to focus on just selling one single product 53 and become known for being the best in the market 54 for that one single product category. 55 It also allows you to channel your energy 56 and resources far more effectively, 57 and by doing those things, it's going to allow you 58 to get new customers far cheaper and easier, 59 which ultimately allows you 60 to be more profitable far quicker. 61 It's almost always better to be the best 62 at one thing than to be just average at lots of things, 63 which takes us onto the next brand building rule 64 of either being the first in a category 65 or creating your new product category. 66 Now Airbnb was the first to create the concept 67 of renting your spare room out to strangers. 68 And at the time, this was a revolutionary way 69 of booking accommodation, 70 and this meant Airbnb had essentially a blue ocean, 71 which means that they had no competition to compete with 72 within the marketplace, 73 this being because nobody else was offering the same type 74 of product. 75 Red Bull, the energy drink, 76 which I'm sure you're fully aware of already, 77 is another example of how a founder took an idea 78 and created a new product category 79 in Europe before others joined party. 80 The founder discovered Red Bull whilst on a trip in Asia 81 and he brought it back to Europe 82 because he knew that there was nothing on the market 83 within Europe at that time. 84 So it's not a case of revolutionizing a market 85 or creating something completely new, 86 but you can just do something slightly different 87 which gives you an edge 88 and a reason for customers to buy from you 89 because there's nobody else offering the exact same thing. 90 For example, 91 you could be a jewelry company selling jewelry inspired 92 by something super niche, like stoicism for example. 93 If you can create something just a little bit different 94 that nobody can get anywhere else in the market, 95 then this is going to be a massive advantage 96 when you sell to customers. 97 Now later on in the course, 98 we're gonna be developing your brand purpose, vision, 99 mission statements, values, and tagline, 100 and these are all things which can work together 101 to help you come up with the word that you want 102 to be associated with your company. 103 Think of any huge brand out there, 104 and then think about a word 105 that actually describes that particular company. 106 The reason that you think 107 of that particular word and associate it 108 with that company is because you've been exposed time 109 and time again by the brand themselves 110 of them actually building that association 111 between their company, what they stand for, 112 and what that actual word means. 113 For example, think about Apple and innovation 114 and creativity, or it could be even Starbucks and coffee 115 and warmth, and maybe Amazon with the words everything 116 and customer service. 117 Now, don't worry, we'll get a chance to find your word 118 for your brand a little bit later on, 119 but I just wanted to mention again that it's super important 120 that as we go through this brand building journey, 121 we strategically clarify everything about your brand 122 so your communications are really clear and precise, 123 and that is why the colors that you use 124 for your brand are super important too. 125 For example, if I show you this blue, 126 which brand comes to mind? 127 Now, this isn't an accident. 128 Tiffany & Co. have been using this blue since 1837, 129 and this is the power of pioneering just one color 130 for such a long period of time. 131 It gradually becomes associated with your brand and company. 132 Now your brand colors are more about brand expression, 133 and this course is more focused around your communications 134 as a brand and your strategic internal branding, 135 but the last laws of brand building, 136 which I think are just as important 137 as any that we've mentioned so far, 138 are the laws of singularity and consistency. 139 Now, none of these laws work if you just do them once. 140 And I'm sure you're fully aware by now 141 that if you don't do anything in marketing 142 or branding consistently, then you're not gonna be able 143 to build those positive associations and trust over time. 144 But before you're consistent, you need to make sure 145 that you're communicating everything effectively 146 and that everything that your brand says 147 and does is crystal clear, 148 and your brand's purpose, your tagline, 149 your vision statement, your logo, your typography, 150 your brand color palette, your website, 151 your photography on the website, 152 everything has to align perfectly 153 to make sure that you are communicating that single message 154 and reason for existing beyond financial gain 155 so that customers are going to emotionally connect to you 156 as a brand and then ultimately buy from you 157 and trust you. 158 By getting all of those things in place 159 and everything working perfectly together 160 and doing their job in the right way, 161 this is going to give you that feeling 162 where everything just feels just right. 163 And this is the exact same chemical release in our brain 164 when we meet a person that we really connect with 165 and maybe love 166 or when we achieve something super challenging, 167 or even when we've been super hungry for a long time 168 and we finally get that slice of cheesecake. 169 Anyway, without further delay, 170 let's move onto the next lesson, 171 and let's talk a little bit less about cheesecake this time.
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