Let’s say I want to have a strong brand. How do I go about building a brand? Is there a process or roadmap that highlights the steps to follow? Here are 5 steps to building a strong brand:1. First, Be Different! Find a relevant customer benefit that you do differently and better than the competition. Ensure you have the organizational capability to continue to deliver this advantage over time and then commit to this positioning with total complete organizational focus. Look beyond the primary benefit and consider important secondary benefits as a point of difference. At Procter & Gamble, Tide is positioned on the primary benefit of superior overall cleaning. P&G’s other detergent brands have positioned themselves on other important platforms. Cheer delivers clean with superior color care and fabric protection. Gain uses fresh scent as proof of clean while Dreft focuses on gentle cleaning for babies clothes.2. Tap into Emotion. There is a big difference between “Product speak” and “Brand Speak”.In advertising and communication, product speak uses facts, figures, and product attributes to talk to peoples minds. It is a rational discussion design to logically convince the customer to buy your product. Brand speak goes after peoples emotions and tries to win people’s hearts. Branding appeals to what people are feeling instead of just what they are thinking. Branding understands that while people use rational thinking to help them “narrow down” what products they are considering, ultimately, the final purchase decision is almost always done on emotion. It is the emotional connection with customers that drives the success of brands like Starbucks, Nike, Apple, BMW, and even laundry detergent like Tide, Cheer, Gain and Dreft.3. Build your Brand Image. Once you know what you stand for, you need to commit to building the image of the brand. Define how the brand fulfills the hopes, dreams, and aspirations of your customers. In addition to the positive benefits, describe how it removes negatives experiences. Make sure new product development delivers a roadmap to build on this positioning because a strong brand image starts with a real difference. Develop all aspects of your brand identity, including visual imagery, emotional appeal and verbal imagery.4. Market the Image. Express, share, communicate, and live your brand image with “One Voice”. Make sure everyone in the company understands what you stand for, why that is important, and how they contribute to creating the image in the market. There is no better example that Disney. Every Disney employee knows their goals is to create a magical experience among their guests. They are fully trained on why and how to handle every task and every customer touch point. No detail is left out. Workers are called “Cast Members” and when they go from behind the scenes into the park, they transform into characters who have a critical role to perform whether they are acting as “Snow White” or whether they are scraping gum off the road. Everyone is “in character”. In the same spirit, every company should encourage all employees to embody the brand image of the company. From the CEO to the people in the call center, everyone plays an important role in reinforcing the brand image.5. Measure and Adjust. As the adage goes, “What gets measured is what gets done.” Any company that wants to build a strong brand needs to measure brand equity against the competition. Understand how the brand is doing, what customers think, how different do they perceive your positioning. Use this knowledge to make adjustments and to build and refine the brand over time.Great brands don’t “just happen”. They are conceived and diligently managed over time and with great organizational focus and commitment. But in the end, a great brand provides a strong ROI and is one of a company’s most valuable assets.
What Is Trending in Home Health Care for 2015?
Each year sees new trends in all sorts of things. The home health industry is one area where you might not think that there would be trends but there really are. As far as trends in this area go, since 2010 the trend has had to do with the Affordable Care Act. That is changing now and there are other things moving into the spotlight.Readmission Rate ReductionMoney is always a factor when it comes to speeding up times for people to be released from the hospital but due to the Affordable Care Act, there is even more of a focus on money. There is a part of the Act that deals specifically with readmission to the hospital. Because of this, hospitals are now trying to discharge their patients even more quickly in order to reduce more health risks as well as to reduce costs. A direct result of this was seen last year when almost 18 percent of patients in Medicare had to be readmitted to the hospital after having been discharged for less than a month. That number does happen to be lower than the rate for 2013 but this is still around 2,000,000 people being readmitted each year which then costs Medicare an average of $26 billion. It is estimated by officials that $17 billion of that amount is from readmissions that were avoidable.The thing is, care does not always end right when a patient is discharged from the hospital. Home health is a vital component in the prevention of additional health issues. By monitoring discharged patients closely and using the latest technology for software and data collection, all of the parties who are involved can benefit.Operational EfficiencyThese days, both families with loved ones who are aging and health care providers are both asking quite a bit from the home health organizations. This can be difficult to handle and even more so if the organization is not being run efficiently. In 2015, the Centers for Medicare and Medicaid Services have projected that the payments Medicare makes to these home health agencies will see a reduction of up to $60 million. This new rule is just one of several rules that are said to show a strategy that is broader and administration wide in order to deliver care that is better at a cost that is lower through finding more efficient ways to use information, pay providers and to deliver care. In order to increase the efficiency of your agency, look for a system of software that will be able to let you know when the eligibility of a patient changes or when any billing change happens.Regardless of what the trends are in the field of home health, your home health agency will always be one that is a necessity. If you stay abreast of changes then you and your agency will have the knowledge and the confidence that is required to be leaders in the field.
What to Prepare When Seeking Commercial Business Financing
Okay, you’ve got your million dollar idea, now it’s time to put in the work on it. Your business model is set, or already budding. All you need is the physical space to grow in. Whether you’re initially building your business or you’re expanding into a larger space, you’ll need to secure the necessary funds to invest in your business’ new home.The only thing standing in your way then becomes the business financing or commercial loan lender. There is a process that the auditors take in regards to deciding how much (if any) money you can be lent and what the terms of the loan will be. Although there is much that is out of the borrower’s hands, there are a few things that you can take into account to hopefully get the best rates possible. The following are some of the criteria that a loan auditor will judge your commercial loan application on for business financing.Your Business
First of all, are you an already established business that is looking to take the step to the next level or are you a young start-up business that is looking to build a customer base. If you’re already established, a loan auditor will want to see that you’ve got an established customer base that is not only growing, but will follow you to the next step that you’re planning on making. If your business is a start-up, you’ll need to prove that your business plan is well thought out and will succeed. Only a thriving business can pay back a loan, and an alternative financing lender isn’t going to want to risk money on a pipe dream.Your Market
Next, you’ll need to assure the business lender your plan has an untapped or growing market that requires the alternative financing to reach. Think about it this way; no one’s going to lend you money to invest in a dying or oversaturated market. Prove that your market is lively and booming through research, solid numbers, and area analysis. A loan auditor will take both your information and passion for the project into account.Your Finances
No matter how strong a business idea, you’re not likely to get business financing from a lender if you’ve got a poor financial history yourself. Take a look at your credit report. If it’s not looking stellar, there are steps that you can immediately start taking to begin to remediate that problem. Also, a clear outline of what every bit of the alternative financing will go to will work heavily in your favor. Show the loan auditor that you understand the gravity of business financing and can spell out exactly what each cent will do to make your business stronger.A little preparation and your meeting with the loan auditor should go very well. Alternative financing is a big step is making your business aspirations come true. Make sure that it is a financially sound and safe step by preparing you business plan and finances beforehand and getting the best loan terms possible.