Debbie Millman, America’s Queen of expert branding recently said, ‘Branding has never been more important.’
When people think of a brand, they typically think of what a brand looks like—a logo, colours or name—but the true value of a brand, is how it makes people feel; its meaning. What your brand means to them—not your logo—is what guides a consumer’s choice between two similar products or service.
A brand strategy clearly defines:
- What your brand is—how it looks and sounds;
- What makes you different—your qualities, values and your reputation;
- Why you can be trusted—your authority, expertise or experience it has;
- Who your customers are—are you a premium or budget brand? Do you have a quality or quantity-focussed product/service?
- Your value proposition.
- What makes you great.
A brand strategy is your roadmap to establishing, building and communicating your brand in a way that’s both engaging and compelling to your audience. It defines who you are and why you matter.
A brand is the perceived value of a business. If there is no brand strategy in place, the foundations needed to build and maintain that value simply do not exist.
People don’t buy the best—they buy the brand.
Apple has a brand that’s innovative, modern and sleek. People don’t buy apple just for its performance—there are many other computing and technology brands that can outperform Apple—they buy the brand.
Nike is not the world’s greatest running shoe, but it is the world’s greatest sporting brand.
Prada, Louis Vuitton, Chanel are not priced or purchased on their materials or make—they are priced and consumed on the value of what their brand represents.
When a consumer has the choice between a brand they recognise, know and trust, or one they don’t, they will always choose the brand they know—unless price is a significant factor.
The literal value of great branding, is that when you build a great brand and you can charge more. When your brand is aligned, recognised and strong, it’s desirable. It has a value that goes beyond the mere product or service it delivers.
As expert brand strategists, we can help your business increase its value, by defining who you are, and why you matter.
Email: firstname.lastname@example.org to find out more.