Building Blocks of a Successful Brand
Growing your business and promoting your brand can be a challenge. In an increasingly competitive marketplace with a growing number of competitors, it can be easy to lose market share and get lost in the crowd. Every day companies across the globe refine their new brand strategy to strengthen their brands and drive sales in their market.
It doesn’t matter what products or services you provide to your customers; to build a successful brand, you need to support several key components. From clear goals to delivering consist service, let’s take a look at what’s behind some of today’s most successful brands.
Clear Goals & Direction
Think of your brand as its own product or service. Like many businesses, you not only want to increase sales for your brand but you also want to establish a strong reputation in the market. The most successful and recognizable brands have their own identity that’s supported by clear goals and objectives in their brand strategy. These goals/objectives are well thought-out and are communicated throughout the entire company.
Everything from a detailed content strategy that covers each communication channel to a clear mission / vision statement act as a guiding tool to help brands reach their goals. Through carefully implementing a unified strategy, brands can leverage their strengths and capture value from new and existing customers.
Several months ago I had the pleasure of reading the New York Times Best Seller Contagious by Jonah Berger. In this book Berger covers essential topics of what drives some of the most successful brands around the globe. I was particularly interested on his chapter related to social currency and how it relates to word-of-mouth.
In this chapter, Berger reviews key examples of how social sharing generates word-of-mouth among customers and how brands have successfully leveraged this valuable insight. From what I’ve learned in this chapter, the most recognizable brands generate a buzz among customers and create a dialogue beyond the sale.
From catchy slogans and tv commercials, to getting the best deals on the latest technology, the most successful brands give their customers something to talk about long after they make their purchase.
Having a great product or service is one of the most important parts of any brand. Whether you sell Apple products or X-ray machines, your customers expect a reliable and consistent experience every time they shop. To win over customers and keep your existing customers coming back, you need to ensure the highest level of quality and consistency.
Take your local diner for example. You can walk in and order a simple omelet with your favorite sides and get outstanding service. However, the next time you go there for breakfast your food isn’t the same quality and the service is subpar. Chances are, if you continue to see this pattern, you’ll probably choose another restaurant or diner in the area.
This example can be applied to almost any brand and industry and demonstrates a common complaint among customers today. Bottom line, if you’re going to change the quality or experience of your brand, make sure it is a positive improvement.
Can you imagine an iPhone without the iconic Apple logo? A Nike shoe without the swoosh? Or even an Amazon package on your doorstep without the arrow? Neither can I. Having a powerful brand is nothing unless your customers have a clear image and can recognize your trademark.
For years, companies have spent billions of dollars trying to find new and creative ways to increase their brand recognition among customers. From t-shirts with company logos, to billboards featuring a distinct trade dress, companies have worked tirelessly to make sure you recognize their products and remember their name.
If you’re looking for ways to get the word out about your company, don’t be afraid to go a little “overboard”. The old adage of “There’s no such thing as bad publicity” definitely comes into play here. Get creative! Find a clever new way to get people talking about your logo or trademarked material. Generating a buzz is the first step to capturing customer lifetime value.
The best brands are the “best” for a reason. Whether they offer great deals on products or deliver unmatched quality to their customers, the most successful brands have a clear differential advantage in their industry. The key to building your brand is finding your niche.
Whether you’re a massage therapist or you sell custom golf clubs, you need to highlight what makes your brand different and what gives you an edge over your competitors. If you offer the best value for the price, let your customers know. If you offer custom products and solutions that no other competitor in your region produces, boast about your strengths.
When communicating with your customers and tailoring your brand strategy you have to remember one key component. Marketing is based around communicating and delivering value. The best brands do this on a daily basis and understand exactly what their target market is looking for in their products and services.
Looking to take your brand strategy to the next level? Our team of strategists and creatives would love to help you put a plan together. For Creative Solutions, Real Results: Think VIG!