Brand Power: Your Ultimate Business Shield

Marketing Trend: Moats will be non-existent, other than brands You’ve probably heard the word “moat” before. If you haven’t, just think about water around a castle. There’s water all around the castle, and a drawbridge is used to get in and out of the castle, protecting them from invaders. With your business, you may have a moat. It could be a feature, cost structure, technological advantage, or even a marketing advantage. Over the years, moats in the online world have slowly disappeared. It’s easy for anyone to copy marketing strategies these days. So what’s separating you from your competition? Something that works right now might not work next year. But do you know what will still be a strong moat in 2024 and even a stronger one in the future? It’s branding. People buy Jordan shoes because they love Michael Jordan. His brand is stronger than ever, even though he hasn’t played in the NBA for over a decade. His shoes are so popular, it’s helped him boost his net worth to over a billion dollars. Just think of it this way, someone can make shoes just as good as Jordan. What you are paying for is the brand, not the shoe quality. What’s interesting is he made more money after retirement than he did as a basketball player. It’s not just Jordan who built a strong brand - so have the Kardashians. Kylie Jenner and her family pocketed around $340 million after taxes from the sale of Kylie Cosmetics. But what really separates her beauty products from others? That’s the power of a brand.
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