Just tying up some loose ends for some MOST clients, and realized, that, once again, branding is something that most home care businesses do not completely understand. When you do understand branding, and then systematically implement it, it truly works. Well branded businesses (it is proven) do have greater success, partly because a good brand generates more permissions and more opportunities than lesser known brands. One of my favorite articles from several years ago, makes it easy to understand, discussing the “Five Permissions” that a well branded company can expect.
Access. Having a good brand makes doors open easier. Whether trying to sell something or just talk to someone, being from a well known and recognized entity opens doors. In home care, it is harder, because having a brand is harder, but, consistency is the key, and when consistently using a well-developed brand, the entry to referral sources becomes easier.
Latitude. Because a well branded company means a more trusted company, those from that company can expect more latitude in taking chances. Having proven oneself to the public means that more permissions will be granted in areas unproven.
Recovery. Permission to recover is granted to a well-branded company. A smaller business may not be given permission to restore confidence when a mistake does happen. And, in home care, mistakes do happen. Getting permission to make it right is sometimes golden for a long term relationship.
Scale. Trust and perception are built into a well branded company. It’s this greater trust in the brand that allows permission to grow and take on bigger projects.
Set standards. Unknown services, products or technology are oftentimes given a chance simply because a well branded company has a proven track record and it is believed that the company, if they are recommending a product, service or technology, are doing so because they believe will eventually be a standard.
Also, to understand branding, you have to understand it from both the buyers’ and the sellers’ perspective. From the buyer’s perspective, the brand reinforces what the buyer will get. From the seller’s perspective, the brand should serve to educate the potential buyer and perhaps even reduce the impact of price on the purchasing decision.
Doubters of brand value will argue the real reason behind the greater margin is better quality of service, or reduced risk based on track record. No doubt, these come into play. At the same time, alumni from these companies will attest that the differences are not as great as might be imagined. The bigger difference occurs at the margin – and in terms of “permission”.
If you want to discuss your agency and your branding, contact the home care marketing experts at corecubed. We certainly do know how to help you develop a brand platform and execute. Happy New Year!