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 Brand

There has to be complete clarity around what we do, what we stand for and how we want to be perceived by the market. Further, we must consciously separate branding and marketing and we must recognize the need to start with branding and follow with marketing. A brand is like a radio frequency and marketing is like the volume. Simply adding more marketing without branding is like turning up the volume on the wrong frequency. If no other company has a better signal, and our signal is only slightly off, some of the signal will bleed through and it may work. However, if someone else has a better positioning, there's a good chance we'll lose.

A brand is a creation of a relevant, consistent and enduring promise of value. A brand is also the ‘sum total of all the associations a consumer has with a product or a company'. It encompasses the products reputation, the promises the company makes to consumers and the values that the company stands for. Most retail brands encourage customers to choose products based on certain personality or lifestyle characteristics. A brand has to do with having a deep psychological affinity to a product or service. It's something the consumer or client wants to be involved with because it's meaningful to them. Brands have a lot of emotional energy. The companies that achieve great branding understand what people want to experience, and that's when you get the deep psychological penetration. Brands lead to customer loyalty and high referral business. In NetSuite's business model, branding will reinforce our clients' month-to-month subscription commitment and reduce customer churn.

Branding starts from the conception of the business. If we don't position our company, products and services around our desired brand, our brand will either be determined for us (by the marketplace) or future efforts to define a brand will result in confusing existing customers and anyone else that has ever heard of NetSuite.

A simple message

  • Maximize Success | Minimize Investment | Sacrifice Nothing
  • The Equalizer: The NetSuite solution delivers a sophisticated CRM software application that empowers SMB organizations with the same high-end and automated CRM systems processing historically only available to larger companies with deep IT resources and the financial means to invest hundreds of thousands of dollars.
  • Single Source Accountability. No third party finger pointint or excuses.
  • The Technology Leader: We bring leading-edge technology to the SME market which provides them business and competitive advantage.
  • We Have Personality: Our personality is it energetic, aggressive, innovative and passionate about computing.
  • The Respected Firm: Our organization is seasoned, upright and principled. Our judgment is sound and our reputation is admirable and unquestionable. We're in this industry for the long haul.

We must always brand the corporate identity before branding products or services. Many companies only brand products or services. However, the product eventually loses momentum, and all the positive branding feelings evaporate. Even when the product or service is going great guns, without a strong association with an established corporate brand, its success doesn't reflect back on the organization to boost sales of other product lines or services. Our branding message should be oriented to the particular target market and target position for each customer profile. Determining our brand will begin with the customer perspective: “People want to do this and we're going to provide a way for them to do it and package all the excitement that goes into it”. Our brand must be expressed in the strategy of our solutions, in the persona of the management team, and in every action that is visible to the public.

Our brand strategy can build shareholder value and attract top talent to our business. Faced with many software products that are perceived to be similar in quality and features, customers often base purchasing decisions less on product attributes and more on brands and reputation. Because brands drive consumer choice and increase customer loyalty, they allow for higher price premiums and facilitate new market entry. The value of our brand will be determined by how much demand or market share we receive for our solution when everything else is equal in the eyes of the prospect.

Does branding really work?
To give an example of the power of branding, imagine two cars rolling off the same assembly line at the same European factory. The cars have identical capabilities, and they are built on the same chassis with the same frames. The only difference between the two is their names. One is called a Geo Prism, the other a Toyota Corolla. Despite their overwhelming similarities, the Toyota sells for $4,000 more than the Geo, and Corolla sales are double Prism sales. Why? Because consumers have come to trust the Toyota brand name far more and they are willing to pay a plus for it.

 

 

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