7 Key Characteristics of Great Brands

What is a brand?

To me, a brand is a meaning-creating device.

Remember, as humans, we always strive to find meaning in whatever we consume.

We are also inherently symbolic in nature, expressing our values in numerous ways.

We don't buy a car just to travel from point A to B; we buy it to display our social status. Similarly, we don't merely wear a dress to cover up our body; we wear it to communicate our identity and values.

Whatever we consume, we do it with a meaning in mind.

That's the essence of branding — catering to the meaning-seeking nature of humans.

In essence, brands play a pivotal role in fulfilling our innate desire for meaning and significance in our lives. They become symbols of identity, status, and connection in a world where every choice we make carries meaning beyond its functional purpose.

Here are the 7 things that I consider as the key characteristics of a great brand;

1. Stay True to Positioning: A great brand builds and maintains core competencies to consistently deliver on its brand promise. For instance, D-Mart's unwavering commitment to offering affordable prices aligns with its positioning in the market.
2. Remarkability: Striving to provide products and services that evoke a "wow" reaction from customers is crucial. By offering extraordinary experiences, brands can stand out in crowded markets and foster customer loyalty.
3. Relevance: Relevance is a cornerstone of a great brand, defined by its ability to stay top-of-mind when consumers search for solutions within its category. Consider the instinct to "Google" when seeking information; it exemplifies how certain brands become synonymous with fulfilling needs or desires. In essence, these brands seamlessly integrate into customers' lives, becoming trusted companions in their decision-making processes.
4. Meaningful Differentiation and Distinctiveness: A successful brand is perceived as unique and distinct from its competitors. This differentiation can be achieved through various means, including product innovation, brand storytelling, and distinctive visual elements.
5. Humanization: Infusing the brand with a unique identity, character, tonality and personality fosters emotional connections with consumers. Utilizing memorable brand assets such as mascots, distinct fonts, colors and thematic elements creates a more human-like interaction, enhancing brand recall and affinity.
6. Mental and Physical Availability: A great brand maintains both mental and physical presence in the marketplace. This includes building brand awareness and recall among consumers while ensuring easy accessibility of products or services.
7. Social Currency: Encouraging user-generated content by providing exceptional experiences prompts consumers to share their brand encounters with others. This social sharing not only enhances the brand's credibility but also serves as word-of-mouth marketing, amplifying its reach and impact.

In essence, a standout brand remains steadfast in its positioning, consistently delivering on its promises while aiming to provide exceptional products and services that captivate customers.

It maintains its relevance by seamlessly integrating into consumers' lives, sets itself apart from competitors through unique and memorable offerings, imbues itself with personality to forge emotional connections, ensures easy accessibility both mentally and physically, and harnesses the power of social currency to extend its influence through user-generated content.

I spoke about the above key characteristics in detail with Girdharee Saran , Co Founder of Grow Real Quick in a podcast.

Here's the link - https://www.youtube.com/watch?v=R-MqpeL6Qdk