Jeremy’s success story includes moments of failure that will likely resonate with you. It tells of how he transitioned his company from a regular, small time, run of the mill business, to a stand out contender in the industry by showcasing their expertise and passion. But it wasn’t without hardships as well.
Jeremy took over his parent’s business with grand visions of what it should be, how it should look, the niche to capture and the customer persona desired. He implemented all the changes or indulged whole heartedly in a rebranding strategy. Unfortunately, nothing worked. His parents remained unfazed and trusted in him to pick himself up and walk the success path. For more entrepreneurial struggle read the book Alibaba: The House That Jack Ma Built.
This failure set him on the path to changing directions and focusing on passion, expertise and innovation. He learnt the importance of innovating to stand out, much like an orange tree in an evergreen forest. He created a Sticky Brand out of his faltering family business. This quote from his book says it all – “When your company innovates and stands out, it functions as a beacon that attracts new customers and brings previous customers back". For more on this you might also read the book Blue Ocean Strategy or Zero To One.
The teaching of his parents is also wonderfully encapsulated in the quote – “They knew from their own entrepreneurial experience that you create your own success. What they taught me is that a business has a life cycle and, to be an entrepreneur, you have to be prepared to reinvent the business and blaze new trails. What had worked for them in the past was no longer acceptable. It was time to change directions." Ryan Berman fully supports this in his book Return On Courage.
When you are so different from your competition, that you don’t even need to compete, it is known as competitive immunity. Jeremy points out that this is a huge yet often overlooked benefit of growing your brand or rebranding. Marketing, while important in its own way, is not the honey that draws bees. Compelling service, memorable experience, and creating a buzz around your brand with some interesting stories is the requirement of a sticky brand. For more about creating a buzz around your brand you might also read Contagious.
Increase the perceived value of your brand, encourage an affinity for your products and services, attract and retain customers, and decrease price sensitivity to get competitive immunity.
Elevate your brand out of the competitive fray and build a direct relationship with your customers so that they always choose you over any other brand and forget to be price sensitive when faced with a choice between you and a lesser brand.
Miller advises specialization, narrowed focus and passionate approach to ramp up your brand.
Discount decisions on your products are best taken after you take a hard look in the mirror. Your mirror will truthfully show you if you stand out from your competition. If you find yourself at par with the others in the industry with no stand out factors distinguishing you, then you need a discount to stay in the rat race. More on this can be found in the book Ready Fire Aim.
This book comes as a pleasant surprise. Written as a first hand account, it is an ideal read for budding entrepreneurs and small and medium business owners and operators. I found myself underlining and highlighting so many sentences from almost all pages. It is one of the best books on branding, rebranding and brand strategies.
Sticky Branding: 12.5 Principles to Stand Out, to Attract Customers, and Grow an Incredible Brand by Jeremy Miller – Buy it, Read it, highlight it, and apply all the 12.5 Principles to grow and rebrand your business! Another book recommendation after this one is Building A Storybrand.