The Power of Substack and Branding for Builders: A Deep Dive into High-Quality Information and Memorable Brands

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Glasp

Aug 20, 20234 min read

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The Power of Substack and Branding for Builders: A Deep Dive into High-Quality Information and Memorable Brands

Introduction:

In today's fast-paced world, where time and attention are limited resources, the need for filtering and trusting information has become increasingly important. Just as we are willing to pay a premium for high-quality food, clothes, and cars, why not do the same for high-quality information? This is where platforms like Substack come into play. Substack, a subscription-based newsletter platform, allows writers to monetize their content by taking a 10% cut of subscription revenue. In this article, we will explore the potential of Substack and delve into the world of branding for builders, highlighting the importance of defining clear positioning, customer benefits, personality, and emotion.

The Power of Substack:

Substack's revenue model revolves around increasing writers' revenue by attracting more paying readers, increasing the average number of subscriptions per reader, and raising the average subscription cost. To achieve these goals, Substack is likely to focus on building discovery tools such as a recommendation engine to help both writers and readers find each other. Additionally, bundling could be a strategy to generate more revenue by enticing casual fans to purchase bundles of newsletters. By enhancing the platform's features and expanding its reach, Substack can continue to thrive as a hub for high-quality information.

Branding for Builders:

Branding plays a crucial role in establishing a company or product's identity and creating a lasting impression in the minds of consumers. The positioning model, consisting of positioning, customer benefit, and personality, serves as the foundation for defining a brand. Adding aspiration and emotion through the brand pyramid further enhances the brand's impact. By following a few simple guidelines and incorporating emotion into the brand framework, companies can make their products more memorable and resonate with consumers on a deeper level.

Positioning Model:

The positioning model helps define a product or company by answering three key questions: how to describe the product, how it benefits customers, and how to define its personality. When using this model, it is essential to use clear and concise language to ensure a broad understanding. Asking oneself how they would like others to describe their company or product at a social gathering can provide valuable insights into defining its personality. Furthermore, identifying the one word that encapsulates the long-term vision for the brand helps establish a clear direction.

Brand Pyramid:

The brand pyramid builds upon the positioning model by incorporating two additional elements: aspiration and emotion. Product attributes, benefits, and emotional benefits are explored to determine how the product improves customers' lives and how it makes them feel. By envisioning how the product, along with its emotional benefits, can make a significant impact in the world, companies can create a unique selling proposition that sets them apart from competitors.

The Evolution of Netflix:

To illustrate the power of branding, we can examine the evolution of Netflix over the years. One example is Netflix's experimentation with Facebook Connect in 2011, allowing users to sign up and receive movie recommendations from friends. However, this social approach failed twice as customers were not interested in sharing their movie tastes, and their friends did not find the recommendations appealing. This highlights the importance of understanding the emotional connection between the brand and its customers and tailoring strategies accordingly.

Actionable Advice:

  • 1. Collaborate between marketing and product teams: To create a strong brand, it is essential for marketing and product teams to work together. By applying the positioning and brand pyramid models, teams can define a clear direction for the product and ensure that it aligns with the brand's identity.
  • 2. Prioritize emotional benefits: When defining a brand, it is crucial to consider the emotional benefits a product can provide. Emotional connections with customers make a brand memorable and create a strong bond that goes beyond rational considerations.
  • 3. Continuously evolve and adapt: Just as Substack is constantly improving its platform and exploring new features, brands need to evolve and adapt to meet the changing needs and preferences of consumers. By staying ahead of the game, brands can continue to provide high-quality experiences and maintain a competitive edge.

Conclusion:

In a world where information overload is a constant challenge, platforms like Substack offer a solution by providing a space for high-quality content. Simultaneously, effective branding allows companies to establish a strong identity and make a lasting impression on consumers. By understanding the power of Substack and incorporating branding strategies, businesses can create a unique and memorable experience that resonates with their target audience. Embracing collaboration, prioritizing emotional benefits, and embracing continuous evolution are three actionable steps that companies can take to thrive in the ever-changing landscape of high-quality information and memorable brands.

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