Welcome back to the Digible Dudes podcast. In today’s episode, David and Reid are here to talk about another interesting topic. Today’s episode is about what David and Reid learned from a book they read together: Seven Powers – The Foundations of Business Strategy by Hamilton Helmer. In the book, the author reviews seven things that drive company value, and in today’s episode, Reid & David dives into one of the most important of the seven: branding.
Getting into the conversation, David and Reid talk about the seven powers of a company mentioned in the book and how to implement it in your company. Then David shares what branding is along with some examples of successful branding, including an interesting story of how Coca-Cola impressed the world with its excellent branding strategies.
In the next part of the episode, Reid shares his thoughts on the brands that have the branding power in the multifamily industry and why the industry has a lot of room for improvement in terms of branding power. Then, Reid shares his thoughts on popular tech companies such as Facebook, Google, TikTok, and Spotify and how the branding power of these companies penetrate the vertices in the multifamily industry.
Further down to the episode, both David and Reid share their thoughts on the rule thumb in branding: having a specific strategy for launching brands. Reid & David talk about how companies like Apple and Tesla use that kind of specific strategies for launching their brands.
In the next section, Reid shares his thoughts on the innovation of brands and the risk that comes with innovation. Further down in the episode, Reid shares his thoughts on how branding strategies relate to clients what you have to do to build a brand along with a community around it. In the last part of the episode, Reid and David share their thoughts on the trust you must build between the brand and the buyer and how the value of transparency becomes a big advantage for a brand.
[06.13] Seven Powers – Seven powers and how those powers connect with the multifamily apartment industry.
[17.09] Branding – What is branding, and why every company should have a properly planned branding strategy.
[20.18] Quality of Branding in the Apartment Industry – How current players in the apartment industry are performing in terms of branding and how they could improve their branding efforts.
[25.51] Tech Behemoths – How big companies such as Google, Facebook, TikTok, and Spotify use branding for better outcomes.
[31.04] Rule of Thumb – The value of having a specific branding strategy.
[49.59] The Innovation of Brands – How innovation comes into play for branding and the risks involved in it.
[56.30] Diversifying – Things to consider when you start to diversify your product or brand.
[01:01.43] Mega Brands – How Companies like Apple and Tesla have strategized their branding.
[01:07.01] Brands and Clients – How branding relates to your clients.
[01:17.35] Building Trust – The importance of having transparency between the brand and the buyer and how to build a trustworthy brand.