Brand audits and brand evaluations are two areas that we particularly enjoy when working with clients. Why? Because, when done well, it’s very high-level and very strategic work. And, because having a clear and well-defined and well-executed brand is fundamental to everything a business does and its ultimate success.
In an article for Harvard Business Review, Adam Richardson discusses the concept of customer touchpoints, which he broadly defines as “any interaction point between the customer and your brand.” If we think about this definition, it truly is quite broad, not least because it invokes the concept of the brand, which is itself extremely broad.
Does an online ad reflect on your brand? What about a discussion with a billing agent over a discrepancy on an invoice? While the answer to the first question is probably obvious, the second might seem like a stretch at first. But in truth, both are examples of touchpoints. And touchpoints have a direct impact on consumer brand perceptions. (more…)
An Entrepreneur.com slideshow discusses the 13 skills that will help improve branding efforts. This is a subject area we are particularly focused on, so we wanted to take a look. The list was compiled by members of the Young Entrepreneur Council (YEC). The 13 skills they recommend are: (more…)
Brands are made up of multiple components – your product or service; your logos, advertising campaigns, public relations and sponsorships; the behaviors of your employees and your customers’ interactions with them; the personalities of the top executives and/or owners, etc. As we’ve said many times before, it’s ultimately the market that truly defines your brand, and they do so by absorbing all of the elements we just mentioned into an overall image in their mind of who your company is and what it stands for. (more…)
It can take years to develop a firmly established brand. And for good reason. A brand is more than a logo or an advertisement or even an entire ad campaign. A brand is how the market sees your business based on the totality of the information available to them: your marketing efforts, media coverage of your organization – including social media, stories from friends and family – and their own personal experiences.
For new startups, the brand is essentially non-existent. The market may be familiar with the entrepreneurs behind the company, which can add some element of a brand, but for the startup itself, the brand is a blank slate. That’s both a curse and a blessing. The curse is that nobody knows anything about your company: your story, your values, your mission, etc. The flip side to this – the blessing – is that you have the opportunity to attempt to build a brand as you see fit. (more…)
Marketers are understandably concerned about building and protecting strong brands. An Economist article from a few years ago discusses the power of brands. “Brands account for more than 30% of the stock market value of companies in the S&P 500 index, reckons Millward Brown, a market-research company. Everyone knows that a Ralph Lauren Polo shirt costs more than a polo shirt; Coke without the logo is just cola.”
But, brand-building efforts are sometimes misguided– (more…)
Most businesspeople and students of marketing would probably agree with the statement that your brand is important. Yet, despite this importance, the concept of a brand isn’t always easy to grasp. Part of that problem is because a brand is made of so many components that it needs to be considered very broadly.
In an article for Forbes titled “Your Brand Isn’t What You Think It Is,” author Ty Kiisel points out that most people don’t truly understand what a brand is. Kiisel writes: “I think most people would agree (although there are still some holdouts), your brand is not your logo or your colors. Of course the colors you choose and the way you present your name to the world is considered part of your brand, but it’s not the most important part. Your brand isn’t what you say you are either.” This is true … but what is your brand? (more…)
We’ve written multiple posts on how to evaluate your brand, the fact that your brand is largely out of your control because it’s defined by your audience, and how to effectively manage your brand. Brands are subjective and live in the minds of your consumer, or business, audience. It can be tough to quantify the strength or weakness of a brand, which can be endlessly frustrating for numbers-driven marketers and business owners. (more…)
A fundamental principle in the world of marketing is that an organization does not control its brand. This may seem counterintuitive at first, but the truth is that the market, your current and potential customers, and consumers define your brand. You can try to influence your brand through your marketing communication efforts but, ultimately, no business can fully control the perceptions of the masses.
This is a lesson that athletic shoe company New Balance recently learned — and is still learning — the hard way. (more…)
We spend so much of our time helping companies develop and strengthen their brands that we almost take it for granted that a brand is one of the most important elements of any organization, product or individual. However, we realize that many companies don’t understand or appreciate the importance of a brand, especially when it comes to spending decisions. So, every once in a while, we like to take a step back to remind our audience why a brand is important in the first place. (more…)
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