introduction
What causes some consumers to purchase a more expensive product instead of an identical but cheaper option? Usually it’s not just the features of the product but also the brand associated with that business. In today’s marketplace where there are so many different products available to consumers, having an established business brand is often the single most important reason why a business gets attention from potential customers.
Branding isn’t only about creating a logo or catchy phrase for a business; branding creates a customer’s perception of a business, how much confidence they place in a business, and if they’ll remain loyal to that brand in future transactions. A strong business brand creates an emotional bond with consumers, builds a sense of credibility, and ultimately generates lasting value over time. This article will discuss three critical pillars to develop an effective business brand: establishing an easily understood brand identity, providing consistent brand experiences, and establishing credibility through authentic and valuable interactions with customers.
Foundation of Brand Identity
A successful business will always require you to clarify your company’s identity. It is essential that you have a strong sense of purpose and presence in your branding, or your clients will not be able to connect with you.
A successful brand identity should provide answers to the following important questions:
- What does your company represent?
- Who is your ideal customer base?
- How is your business similar or dissimilar to competitors?
The identity of your brand is represented via its
Mission Statement (reason for being beyond making money);
- Core Values (the principles that assist in guiding you and your decision-making process);
- Business Personality (how your business comes across to its customers);
- Visual Identification (logo, color palette, fonts and design style).
- Supporting Examples and Evidence
It is widely documented that brands with a clearly defined identity are easily recognized and remembered. Some examples include:
- Apple’s brand architecture is centered around a foundation of simplicity, innovation, and quality.
- Nike’s brand identity is built around the concepts of performance, motivation, and empowerment.
- Both of these organizations maintain solid placement due to consistent, easily recognizable identity.
How this differs from a weak brand
Many organizations equate logo development, or designing to the process of creating a brand. Brand confusion occurs when logos are created without the development of purpose; therefore a strong brand identity can be a business’s greatest asset.
Delivering a Consistent Brand Experience Across All Touchpoints
When your brand identity has been secured, consistency will become your point of differentiation. Customers will judge your business not on an individual touchpoint but rather by combining their total experience as a customer with your business.
Why is Brand Consistency Important?
- Brand Consistency = Building Trust
Trust from your customers is created by them having the comfort of knowing what to expect. - Brand Consistency = Building Recognition When customers are repeatedly exposed to something (your business), they form a memory of it.
- Brand Consistency = Building Credibility If your brand is inconsistent, there is the chance that it will appear unprofessional.
Every touchpoint will be part of the total customer experience:
- -Website and social channels
- -Customer service experience
- -Marketing message and advertising
- -Product Quality and Packaging
Real World Examples of Brand Consistency
Coca-Cola and McDonald’s brands are consistently aligned from location to location, platform to platform and across many decades. Their colors, tone, message and customer experience remains aligned.
This consistency allows customers to create a familiarity with your business, which results in increased customer loyalty and value over time.
Research Behind Brand Consistency
Research shows if a business provides a consistent method of brand presentation, that will generate more revenue by providing trust and recognition with their customers. Customers will be more likely to choose a brand that feels reputable/professional to them across all channels.
Brand Inconsistency
Many businesses will frequently change their messaging, utilize a different tone on a different platform and outsource their branding without established guidelines. This creates a fractured perception of a company’s brand. On the other hand, strong brands will have documented guidelines that have been communicated to all associates and ensure that all messages are congruent across the various functional areas of the business and across all customers.
trust and commitment to customers. Customers want businesses that demonstrate honesty and integrity, so they’ll continue to support them.
What Is An Authentic Brand?
An authentic brand expresses its core values through clear and open communication to create and maintain long-lasting relationships with its customers. An authentic brand:
- Is open and honest with its customers
- Makes good on its commitments every time
- Displays its values through its actions, not just its words
- Is focused on developing long-term relationships with its customers
Authentic branding also means that a business knows and understands the needs of its customers and provides a genuine solution to their needs—not just a promotion of a product.
Examples of Authentic Brands
Patagonia has established itself as a strong brand by aligning its values with its brand messaging (i.e., sustainability, corporate social responsibility.) Patagonia’s messaging is aligned with its business practices, which supports the credibility of its brand and helps build customer loyalty.
Consumer Behavior Evidence
The research indicates that consumers who trust a business are more likely to support that business by making repeat purchases and recommending that business to others. Businesses that have established a trust-based brand can expect to achieve:
- A higher level of customer retention;
- A greater rate of word-of-mouth marketing;
- Lower marketing costs in the long run;
- A clear differentiation from businesses that rely on short-term promotional branding tactics.
Many businesses use aggressive advertising and trend-based branding tactics to create a short-term impression on customers. Although these tactics may provide a quick boost to a brand, they may ultimately provide little or no long-term brand equity. Authentic branding creates a long-term commitment to and value from customers.
calculation
Developing a strong corporate identity is not simply a project but rather a process that requires strategic development over time. Companies have to begin by creating a well-defined corporate identity that is both clearly communicated and different from other brands. Next, they have to develop and provide consistent brand experiences to customers at all touchpoints so that they establish brand recognition and build trust with customers. Finally, companies need to earn customer trust through authentic relationships, transparency and ongoing value creation.
Going forward, companies that view branding as an important strategic asset rather than just a marketing tool will have a distinct competitive advantage in crowded markets. Strong corporate identities will attract new customers, employees and partners, and reduce reliance on pricing competitors.
The call to action
Begin evaluating your corporate identity now. Clearly identify your corporate identity, conduct a corporate identity audit and commit to providing value to your customers. The strongest corporate identities are created with intentionality – act now!