Yoga guru turned entrepreneur Baba Ramdev kicked off the first day of Goafest 2018 in style and with a healthy dose of ‘gyaan’ and an equal amount of entertainment to match. In a power-packed and no-holds-barred session, Baba Ramdev talked about how to build a brand, what not to do when building a brand and what has propelled the meteoric rise of his brand Patanjali.
According to Baba Ramdev, in all his years of experience as a yoga guru and as an entrepreneur, he has come across these key points that make or break a brand:
Experience, according to Baba Ramdev, is paramount. One can build a strong and truth-worthy brand, only if one has sent enough time in the field to earn the requisite amount of faith and trust. The years he dedicated to yoga and ayurveda have, in Baba Ramdev’s own words, helped him in building goodwill for the company and helped it grow at the pace that it has charted.
Even when a brand has not spent many years in a field, it is possible to become a success if the idea is unique. As the saying goes, ‘Content is king’ and that is true for a business as well. It is the idea that matters and if the idea is unique enough, then it can work irrespective of the time the brand has spent in the field.
There are enough examples of someone doing well because of the legacy attached to them. For a brand, it will do wonders if they have a big name attached to them. As any goodwill, the established brand has will rub off on the new brand.
Fill the vacuum:
A best way to ensure your brand is a success is to make sure you address a problem that was hitherto unaddressed. According to Baba Ramdev, a brand that can fill a vacuum in the market with its product offering will be in the race for long.
From day one, Patanjali has harped on its focus on quality and Baba Ramdev again stressed the point in today’s session. According to him, when people cut corners to rake in profits, they might succeed for a short while but the brand will not stand ground in the long run.
Patanjali has always gone against the conventional teachings of advertising and has still managed to rise from strength to strength. Baba Ramdev was of the opinion that the emotional connect that the brand has been able to build over the years with its ‘swadeshi’ and ‘natural’ positioning has helped the brand reach where it is today.
Baba Ramdev also had tidbits to share on the topic of credit sharing. In an industry where often taking credit is an issue, Baba Ramdev was of the view that credit sharing is the way to go.
“When you give credit where it is due and respect everyone, people will even lay down their lives for you.”