The Power of a Premium Brand Positioning in an Inflated Market.
By Matthew Snowden, Owner, Treacle
We are all in this together at the moment. From small independents to multinationals, the cost of goods and services is probably the highest it’s ever been. There is an inevitability about the challenge – how and when do you raise prices? And how to justify this rise to your customer?
Enter your company’s secret power, the power of your Brand.
Brand: More than Just a Logo
A bit like interior design is sometimes seen as “frills and pillows”, the term “Branding” is often linked with creating a logo and a colour palette.
Brand and what it stands for, the depth of meaning and significance it can have for the success of your company, can often be wildly underestimated.
“A Brand is a set of expectations, memories, stories and relationships that taken together, account for a consumer’s decision to choose one product or service over another.” – Seth Godin
Brand is an embodiment of a company’s values, its vision, and its promise to its customers. Like any relationship, a strong brand can create emotional connection and build trust.
A great example of this is your favourite coffee shop. There are many brands in the drinks industry selling the same commodity: coffee. The way in which this commodity is distinctive in the marketplace is how the brand is represented. And this is not just about the logo. This is about the entire experience you have from the moment you become aware the brand exists. It’s about the way the shop looks and feels, the ambience, the staff and their behaviour, how they dress, how the coffee is presented. It is also (and increasing in importance) the purpose of the brand, what they believe in and stand for, how they treat the world around them, how they give back to their community of stakeholders and the world at large.
In times of uncertainty, customers want and need familiarity and trust. The more they will gravitate towards brands they know and love to offer them stability and value.
The Premium Edge
But here’s the rub: If we all have to raise prices, how do you stand out and become the company customers feel has added value and the increase is truly worth it?
The answer lies in the positioning – in the consumer’s mind – a shift of the perception of your brand up the value chain, presenting a more premium option, elevating the experience and therefore value of your offering.
There are many ways you can offer a more premium service. Of course you can improve the quality of your product or service quality: the main objective here is to make your customer feel special and valued. You can look at ways to add value through more personalised touchpoints, innovative packaging. And of course, offering an enriched and enjoyable, fast and easy digital experience can delight your customers no end.
Be purposeful
While there are many ways to enhance your experience, the shift needs to feel natural and from the heart. Customers can see false effort a mile away. Rebrand your business with no substance and expect it to fall flat.
Speak to your customers
To elevate your offering, you really need to understand, what is it my clients want? What do they value? This requires time and insight, spent with them in their world. How are you responding to their challenges with inspiring solutions? How are you delivering on the brand promise you have created?
The power of branding is so much more than how you look, at a brand’s core is embedding your values and promises into the breath and life that runs through every facet of your business. In an age where everything is expensive and value is questioned, a strong, premium experience can elevate your worth at a time when it has never been so important.
“A brand is a living entity, and it is enriched or undermined cumulatively over time, the product of a thousand small gestures.” – Michael Eisner (Former CEO The Walt Disney Company)
Our extensive experience with renowned brands such as Bulgari, Manolo Blahnik, and Harrods, as well as collaborations with art galleries and niche skincare brands, sets us apart as the go-to destination for those seeking a truly exceptional creative partner.
LIFESTYLEWhat next?
Pricing is a global challenge in an unsettled landscape right now. But it also presents the opportunity to be innovative, to collaborate, and to reposition your brand in the market.
The brands that succeed will be those that show humility, listen to their customers, and respond with an out of the box, creative and purposeful experience.
If this article resonates with you, let’s chat. Whether you are at the start of discussions around a rebrand or ready, the Treacle team of strategists, digital specialists and awesome designers are here to support, guide and help you reach your brand vision.
Let’s shape the future, together. Reach out to us via our contact form and let’s embark on this transformative journey.
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I cannot recommend Treacle enough! Their professionalism, work ethic, creativity and dedication to get the job done goes above and beyond! It is also so nice to work with such a friendly, approachable team!
- Corney & Barrow
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My experience with Treacle has been refreshingly different. The team truly understood our needs and brought our initial rebranding ideas to life. Through the creative, implementation and launch phases of our website, the entire team have been exceptional. I have had the privilege of working on other projects with Treacle and regardless of the brief, the team always go the extra mile and deliver.
- Adele Smith, Head of Marketing at MM&K
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We are delighted with the website. It is beautiful, simple and functional: precisely what we asked and hoped for. Thank-you for being such creative, positive and hard-working professionals throughout this process; finding an agency that not only understood what we were trying to achieve but could then deliver the required result was probably the greatest challenge we faced when we decided to take this step.
- Andrew, Dan and Richard, Founders of The Intercooler
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Treacle was recommended to us by a fellow automotive business. Matthew was fantastic, he listened, took on board our ideas and requirements and was able to design a website which was beyond our expectations…all in one go. Great team, good support and looking forward to doing business again.
- Nadeem Ali, Undercover UAE
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