Eight tips for building a successful Taiwanese brand
Here in Taiwan there has been a lot of talk about brands and brand building, especially among the firms that design/manufacture products for other companies with their own branded products. The firms with their own brands not only expect a good working relationship with their Taiwan partners; they also expect a keen price. Yes, the companies with brands get to have their cake and eat it, too. This results in many Taiwanese firms fighting like cat and dog for the orders, with "the winner" often making very little on the deal.
One often-mentioned solution to this less-than-ideal state of affairs is innovation; specifically, brand innovation. So what should Taiwanese firms try to think about as they move from OEM/ODM to marketers of their own branded products? I thought I'd offer some ideas after having read none of these in the local newspapers here:
1. Be very wary of the brand "consultants" that are lining up to take your money. Just because it's expensive, it doesn't mean it's good.
2. Realize that before you start branding (activites such as advertising/sponsorships etc.); you need to have a brand in the first place. Brand first, branding second.
3. Have your staff believe in your brand. Staff first, market second.
4. Be up front about the country of origin because the market will find out soon enough.
5. Have a story that is authentic. If you try to communicate a story that is not the real deal, markets will quickly find out. And then you will lose trust -- one customer at a time (in the business-to-consumer arena, unlike the business-to-business game, all customers are important).
6. Brand one product successfully first. Not the whole range of products you manufacture. Go for depth/engagement not breadth/awareness.
7. Put a public face beside the brand, rather than hiding in the background. Michael Dell did it. Richard Branson did it. Bill Gates did it. Terry Guo of Hon Hai (Foxconn) is doing it.
8. Stop pretending you're a Germany- or Japan-based brand.
If anybody has any of their own ideas, please feel free to wade in.
One often-mentioned solution to this less-than-ideal state of affairs is innovation; specifically, brand innovation. So what should Taiwanese firms try to think about as they move from OEM/ODM to marketers of their own branded products? I thought I'd offer some ideas after having read none of these in the local newspapers here:
1. Be very wary of the brand "consultants" that are lining up to take your money. Just because it's expensive, it doesn't mean it's good.
2. Realize that before you start branding (activites such as advertising/sponsorships etc.); you need to have a brand in the first place. Brand first, branding second.
3. Have your staff believe in your brand. Staff first, market second.
4. Be up front about the country of origin because the market will find out soon enough.
5. Have a story that is authentic. If you try to communicate a story that is not the real deal, markets will quickly find out. And then you will lose trust -- one customer at a time (in the business-to-consumer arena, unlike the business-to-business game, all customers are important).
6. Brand one product successfully first. Not the whole range of products you manufacture. Go for depth/engagement not breadth/awareness.
7. Put a public face beside the brand, rather than hiding in the background. Michael Dell did it. Richard Branson did it. Bill Gates did it. Terry Guo of Hon Hai (Foxconn) is doing it.
8. Stop pretending you're a Germany- or Japan-based brand.
If anybody has any of their own ideas, please feel free to wade in.
Labels: innovation
posted by Gordon Graham at 9:06 PM
1 Comments:
I guess I can give my two cents - I'm already a frequent visitor here!
Before anything, I would ask (and this advice really would cost at the most 2 cents) what is your brand's soul?
If it doesn't got a soul - it wont have a life of its own.
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