There are many mistakes people make when they are starting business.
One common error is to concentrate on the products or services they are selling.
To them, they think their customers would buy from them, so long the product/service they are selling is what customers need.
They are wrong!
Unfortunately, customers don’t buy products or services.
Yes, customers don’t buy products or services; they buy brand.
Why are you trying to sell what nobody wants to buy?
Nobody buys products. Nobody cares about your services.
People only buy brand.
Let me explain with some examples.
Have you ever been into a store to buy phone (or something else) and you didn’t find the exact phone (or something else) you have in mind, but the store attendant was telling you, “sir, this one” pointing to a certain product “is better than the one you’re looking for”.
This could be marketing but it may also be true but you won’t want to buy without seeing the brand you’re looking for.
If you want to buy a phone, you may love iPhones.
You don’t really love that phone because of its features, you want it because it was made by Apple.
If the exact phone’s brand was changed from (let’s say) Apple, to Itel, even though all the features remains intact, will you still buy it?
If you don’t understand this, let me explain with one more example.
If Coca Cola should buy all of the Pepsi products and (without changing anything else) simply change the name on the bottles from Pepsi to Coca Cola.
What do you think will happen?
Even though taste and everything else remains the same, people would still buy those products as much as they buy Coca Cola
The reason is very simple.
People don’t buy products or services. They buy brands.
Though there can never be a brand without a product or service, there can be product/service without brand and that is where calamity comes in.
As entrepreneur, don’t just sell your product. Concentrate, build and sell brand.
No matter how good your product is, if it’s not well branded, you won’t sell enough to pay your bills.
I always love you!