Take a second to think about these pairs…
There’s definitely a difference between the first and the second item in each. But why?
Because one is a brand name and the other is a commodity.
A commodity is a generic and undifferentiated product or business. It is one of the masses, and in the mind of a potential client or consumer, it is no different than all of the other ones in the endless sea of options.
A recognized brand name is automatically preferred by the consumer. Why? It boils down to the recognition factor.
It is the first thing that pops into their head when they are in need of whatever product or service someone has to offer.
Because a brand name is so well known and recognizable and has already built such a strong reputation, it comes with an automatic position of credibility and authority.
There is an implied concept of “BEST” and “NO RISK” with a recognized name because the assumption is that it would not have gained such a reputation if it was not reliable and one of the best ways to go.
Doesn’t make it right, but recognition generally builds esteem in the mind of the consumer.
Think about it… how many times have you chosen the recognizable over the mystery choice? Even though the mystery choice may very well have been the better selection?
I do it all the time when I’m out of town and need to find someplace to eat. I’m more likely to choose a recognizable restaurant chain over a small local hometown eatery. Why? The small local hometown place could very well have delicious and amazing, healthy, home-made options that would be preferable to the mediocre straight-from-a-can-or-freezer, processed food choices that I know I’m going to get at a chain restaurant.
But…it’s a bigger risk to sit down at the local mom and pop diner I’ve never heard of before. I don’t know what their standards are. So I stick with what I’m familiar with: mediocre but recognizable.
We all do it with different things.
When creating and developing your own business, the concepts of brand name and commodity are really important to understand.
If you truly want your business to be successful, you must create a name for yourself. Become recognizable.
Otherwise you will blend in with the crowd, and if potential clients can’t see a difference, then there is no difference between your business and all of the other ones out there.
And they have absolutely NO REASON TO CHOOSE YOURS.
In order for people to think of you first, they must KNOW about you.
Over the next couple of weeks I am going to help break down ways in which you can gain greater appeal and increase the success of your business.
This is my true passion, and there is nothing that I would like more than to help share my expertise with you in order to help you reach your true potential.
So let’s get started!
Over the next week think about ways in which you can position yourself to be more visible and gain greater recognition in your marketplace.
Leave me a note in the comments with what’s going great for you or what’s your current struggle in making yourself more visible.
Make it great!