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A Compelling Brand Story | Social Media Today

A Compelling Brand Story | Social Media Today | marathiinfoline.com | Scoop.it
Every successful company started small, as just an idea in the founder’s head, and then came alive from there.

Via harish magan
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harish magan's curator insight, December 25, 2013 9:12 PM

Whether a company started with humble roots and grand aspirations or attracted the attention of wealthy sponsor from the beginning, all of them have a story to tell. This story is what shapes a brand’s identity, and like all things related to marketing, it is malleable.

Did you realize that perhaps the best-known luxury car brand in the world, Lamborghini, was the result of a tractor mechanic working from a garage who precisely focused his attention on detail and quality-of-design?  Or that a company backed by wealthy investors become the low-income haven for travelers across America, called Motel 6?  Each of these brands built trust with different markets, markets that were in fact the opposite of where their founders’ own personalities fit, by telling a story that resonated with their customers.

This is because the brands they built were targeted to a specific market segment.  What those companies were selling was something their audience was ready and eager to embrace.  Because of this, a company seeking to build a brand identity needs first to consider whom they want to buy their products.  Simply identifying with a particular market segment isn’t good enough.  The brand needs to get to a point where the story the customers tell themselves about the product matches how they view the world.  Customers need to be able to look at a product and say to themselves, “I will buy this product because I am X kind of person, and people like me buy this brand.”  When this happens your brand becomes part of your how target market defines themselves, which is a tremendously powerful force on which to build brand loyalty

Ask yourself who writes with a Mont Blanc pen, and a certain figure comes to mind.  If you identify with that figure, then you’re the in the target market for that product.  Do you prefer Adidas or Puma sports shoes?  Despite a bitter rivalry spanning more than six decades, both brands of shoe continue to sell, and each one identifies with a different market segment because of the story surrounding their products.  In every case, the kind of person you want to sell to will dictate the story you tell about your company.  Mont Blanc would no more hire a basketball player to represent them than Adidas would an investment banker.  They are two different audience segments, and the companies come from two different points of origin.

By understanding the audience you want to sell to, you can better grasp the nuances of that particular market.  If you are selling luxury cars then you aren’t going to be concerned with your brand’s impression among low-income market segments.  On the other hand, if you are selling affordable cars with low costs of ownership, the opinion of the low-income market is the only thing you care about — but knowing where you fall requires an understanding of the roots each of those consumer groups identifies with.

While that seems simple on the surface, it is anything but.  The average Ivy League analyst might know more about tea and ties than a high school dropout who learned to code websites by himself, but they both have equally relevant perspectives in terms of building a brand depending on your product.  By crafting your story to appeal to one, you are implicitly building your brand so it does not appeal to the other.  And that’s okay!  Your product is not for everyone — no product in the world is — but if you try to tell a story that appeals to the entire world it won’t build a strong connection with any segment of the market and you will wind up going nowhere.

Instead, determine who your target customer is and then craft a story that makes them believe people like them are the kinds of people who buy from your brand.  As for people not like them, that’s another company’s opportunity.  But for your target customers, when they tell themselves a story about who they are and what they buy, make sure your brand is a part of that narrative. (Check out our guide thatoutlines some of the most effective social networks for your brand to share its message as well as ourbrand positioning strategy to learn how to position your brand in the marketplace for success).

Rescooped by Vinayak Gholap from Social media DAILY NEWS
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Total Socials Lets You View Social Media Profiles for All Businesses in One Place | Social Media Today

Total Socials Lets You View Social Media Profiles for All Businesses in One Place | Social Media Today | marathiinfoline.com | Scoop.it
People are using the Internet to find information, but more importantly, to connect with companies. And yet for so many, it can take hours to find all of a business’ social media channels.

Via harish magan
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NV: Local economic development effort adopts new name, new philosophy | Las Vegas Review-Journal

NV: Local economic development effort adopts new name, new philosophy | Las Vegas Review-Journal | marathiinfoline.com | Scoop.it

New name, new philosophy.

 

That’s the word in local economic development.

 

Since its inception in 1954, Southern Nevada’s primary economic development organization has had three names.

 

First it was the Nevada Development Authority, then briefly the Las Vegas Regional Development Council. In February of this year, it was rebranded the Las Vegas Global Economic Alliance.

 

But the new name isn’t the only change the group hopes to bring about.

Creating, attracting and keeping jobs are the most basic functions of economic development engines, but the newly named alliance wants to take its efforts a step further by uniting community organizations, fostering targeted industries and shifting its focus from California to the world.

 

Unlike previous iterations, the organization takes stances on legislative issues. In February, the executive committee endorsed Assembly Bill 443, which would allow the Clark County Commission to raise fuel taxes based on inflation and use the revenue for transportation projects.

It also plans to take sides on education.

 

The organization focuses on developing the economies of Las Vegas, Clark County, Henderson, North Las Vegas, Boulder City, Mesquite and Nye County. It works closely with the Governor’s Office of Economic Development to deliver business incentives including tax abatements and training and hiring grants.

 

“The spirit of cooperation we’ve been able to create is unprecedented in this community,” Las Vegas Global Economic Alliance CEO Tom Skancke, CEO said. “There literally isn’t an organization we haven’t touched or talked to.”

 

In creating an economic development strategy, the alliance consulted more than 300 organizations, ranging from government agencies to private businesses to universities and nonprofits, with whom it maintains ongoing conversations.

 

The alliance is a public-private partnership with an annual budget of $5.4 million. Of that, $1.5 million comes from the state and $1.4 million comes from existing members. The group is working to raise the final $2.5 million.

 

Switch is the alliance’s largest donor, with notable supporters including Bank of America, Wells Fargo, NV Energy, the Regional Transportation Commission, The Capitol Co., Fennemore Craig Jones Vargas attorneys, Originate, Velstand Investments LLC, The Howard Hughes Corp., the city of Las Vegas and Clark County. Switch also provides the alliance’s office space.

 

From talks with community partners, the alliance was able to set goals and identify seven target industries: technology; renewable energy; gaming, tourism and conventions; logistics, manufacturing and assembly; health care and life sciences; international business; and aerospace, defense and unmanned aerial vehicles.

 

Skancke said Las Vegas’ greatest obstacles are developing an educated work force and fostering jobs in science, technology, engineering and math.

 

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Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc, Atotsm, harish magan
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