How important is a brand?
I was asked recently "how important is a brand". My initial thought was > this call is going to take more than an hour.
When considering the importance, I look at the brand of a company as their 'personality' and the logo is the 'face'.
So I guess the answer would be, how important is personality?
It has value greater than you think.
We've started recognizing widely that a brand does hold a power. Brands attract followings, influencers, loyalty and customers.
Think of this, head phones are just head phones, but 'beats' were not just head phones, they were a lifestyle, they represented more to their audience. It was an expensive acquisition... so did that brand have value? We all know that electronics can be replicated and sold cheap, so why would anyone buy beats for such an expensive price tag? Brand.
You own it or you don't.
I've seen enough companies that don't own their brand. They don't own what they stand for. Perhaps they are too focused on the instant sale than the long run of client relationships and loyalty, but that time and effort put in is what builds the long term customer, one that cannot be easily stolen by your competition.
Owning your brand comes through consistency, the McDonalds experience or by cohesive and consistent messaging; Tiffanys. It's your image, your style, the personality and culture of the company.
Own it, if you stand for animal rights, quirky style, customer service, elegance or community, take time to own it and integrate your messaging around that.
Your customers will own your brand.
Yes. You will build this but its the perception of your customers that will really tell the truth about how your brand is received by your client base. If they become loyal because they can align their beliefs with what your company stands for. If they believe the authenticity of your 'quirky' style or aspire to your classic luxury and hold your hand when you support your community.
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In the end, the way you build your brand is by putting your heart and sole into it, creating the image with determination and the personality through consistency.
This is a broader subject for a single blog, but I would be happy to carry this conversation on further.