does it live inside the company? in the product? in the advertising?
Brands live in the minds of customers.
A brand is simply the sum of all theperceptions and thoughtsin the minds of customers aboutyour product, service or company.
Your brand is how yourcustomers think aboutyou... do they know who you are? do they trust you? do they like you?
So, that’s what a brand is.
next question: …and the only one that really matters:
How do brands contribute to bottom-line business success?
Because people know and trust astrong brand, a strong brand will… drive sales build staff motivation support & loyalty recruitment & partnerships boost investor relations
Brands drive sales in several ways… drive sales support price premium reduce competitive boost shopping demand speed decision- increase facilitate tolerance for access to making mistakes decision-makers
Think about what drives you when you buy something…
An example: you’re buying a camera. Which do you choose? (assume similar specs and price)
If you’re like most people, you’ll find this a tough choice. they’re a lot alike… why choose one over another?
How about now?
Brands provide meaningful differentiation Choosing between Choosing a brand similar products is hard. is easy.
Consumer brands and B2B brands work the same way. B2C B2B Customers choose the brands they know, trust and like.
Okay, so brands are important. …but what makes a brand effective
To be effective, brands need to be… …in focus and in sync
Branding is not a one-time action. It’s a process.
What do we mean by a branding process? – consistent over years long-term – incremental improvement – involvement by top management strategic – active participation by all – dedicated resources and staff systematic – a disciplined program
How about your brand… is it contributing maximum value
6 questions: a quick value check…
brand value check… YES Q1: NO Do we have a clear brand promise that gives our customers a reason to choose our brand over competitors?
brand value check… Q2: Do our employees all have a thorough understanding of the brand so that they really deliver on the brand promise? YES NO
brand value check… YES Q3: NO Do our customers perceive our brand in the same way that we see it?
brand value check… Q4: Is our brand implemented in a way that motivates customers at every point of contact? YES NO
brand value check… YES Q5: NO Is our brand a steady guide to long-term strategy, rather than a short-term communications campaign?
brand value check… Q6: Do we have a formal organization in place that ensures our brand receives the attention and resources necessary to attain maximum value? YES NO
Is the answer yes to all 6 questions? …congratulations. Your brand is a YES high-value corporate asset. NO
if not… ask us how YES NO can help add value email@example.com