A Story About Differentiation and Brand Identity In the same manner a person's personality as an extension of their name, a brand identity should extend beyond its logo. Brand identity is about harnessing the power of recognition and differentiation. The latter helps audiences differentiate a brand from their competitors, whereas the former helps an audience recognize a brand amongst several competing brands. As branding grows Digital Advertising services NYC and adorned with logos and designs, many brands fall short of expectations because they forget one critical ingredient of success: to differentiate themselves in the eyes of their audience.
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Imax: A Case Study of Differentiation Brand identity is a correlation between understanding your target audience and engaging them with your product and service. It's about creating a unique story and value position that draws in consumers. Successful brands are more than compelling, well-positioned and marketable; they are different. And, these if these differences are interesting, they compel the curiosity of consumers.
Differentiation is the hardest part of the branding process, but it certainly it pays to be different. It's not about being different just for the sake of being different. It's about telling a different story, providing consumers with a different experience. And, it's that unique experience which will make a brand stand out from competitors. Every company can learn about brand identity from Imax. In 2007, Imax was charging $13 per ticket, roughly $5 higher than the average. While the name was recognizable, it hardly differentiated itself to demand that price. So what the company did was replace analog prints for a digital projection system. At that time, analog prints ranged $30,000 per theater, but digital versions were only $175 per theater. This not only made it possible to add more screens, but Imax differentiated themselves in the market. ADDRESS 62 Greene Street, 2nd Fl., New York, NY. 10012 Fax: 1-866-923-0751
The story is one of transformation. Imax saw the challenges of the digital era but refused to budge their model. Instead, they reinforced their brand, made their 'story' more interesting, and invested in differentiation. The company saw their strength and what made them different. In fact, their decision was really a bet on the idea customers would pay more for a unique viewing experience unmatched. This clear distinction in the market was a confident gamble at a time that didn't encourage their success. But because of their unique value position, they were able to charge customers what they wanted. SEO Services NYC companies can learn is that while brand recognition is important, it's differentiation that will make your brand a winner. To learn more about how your company can make your brand different, contact us today.
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