Let's Talk Brand Identity (Crisis)
OVERVIEW
Brand identity. It’s one of those concepts that can often feel like a secret society few actually understand but many have opinions about. Why does it matter? How does it impact a company’s bottom line? Why does a marketing manager’s eye start to twitch immediately when they receive materials that aren’t in the right color, font, voice, format, etc?
WHY IT MATTERS
Here’s the thing about branding and the concept of brand identity: if yours is underwhelming or ineffective, you may not even be aware of it. But as you develop a stronger, more intentional, more cohesive brand, the impact will resonate immediately.?
It’s a Catch-22 for businesses across industries, regardless of size: until you commit to joining the “Good Brand Society", you won’t necessarily know that you even wanted to join. However, a company without an intentional, well-defined brand identity is like a city on a fault line without retrofitted buildings: the tremors are happening, but the earthquake hasn’t hit (yet).?
In today’s competitive, non-stop world, customers are always looking for the best. Your brand identity is part of your company’s essential foundation – don’t wait for the crisis to start before building a strong base.?
Your company’s brand is your identity, and your identity determines everything.
Why? Why? WHY?! You ask. Our logo may be a little boring and our website may be a little outdated, but who cares. We’re still getting customers and we don’t have the extra budget to prioritize this right now. We don’t even really use social media and we’re fine.
Are you sure about that?
Try this exercise: ask several coworkers from different departments, titles, experience, etc. how they would explain your company to someone during an elevator ride.?
Do they stumble to distill what your company does? Are they clear on your company’s mission, values, and goals? Were they able to generate interest and intrigue during their spiel??
OR…
Are the answers you receive conflicting? Are they inaccurate? Do they reflect confusion?
THESE ARE YOUR COMPANY'S EARTHQUAKE TREMORS.
Let me explain.?
Branding affects business efficacy, not the other way around.?
When consumers are looking for solutions to their problems (or rewards for their purchasing goals, etc.), intentional, creative, and innovative branding results in more effective brand equity, which translates to your company being the first to come to mind as a brand they trust to invest in.?
However, prior to any purchase, your first line of marketing is for your internal customers: your employees. If they do not: 1) understand what you do, 2) agree on how you do it, or 3) succinctly convey why it matters for your target customers, how will your business persuade external customers to commit?
Branding is the story you convey about the company you’ve created.
This applies both externally and internally. What values does your company prioritize among its employees and customers? Why do those values matter? How are they different from your competitors?
领英推荐
Potential/current customers and employees commit to companies with brands they feel they can trust and connect to. After all, business is really just people connecting with people. (Petition to shift “B2B” and “B2C” to just “P2P”?)
Scott Baradell (CEO of Idea Grove) emphasizes via Entrepreneur: “People make purchase decisions based on emotion, not logic. With that in mind, building your brand identity is a way to reach consumers at an emotional level. If done correctly, it can persuade them that your product or service is worth their hard-earned money. There are countless ways to market your business, but there's one that's tried and true: brand awareness. It plays a significant role in sales performance and provides numerous benefits when used strategically.”
Making sense conceptually, but not as much literally? Try this:
Pick an area of interest from a consumer standpoint – literally anything. Let’s say…cell phones. Put yourself in the mentality of a potential customer: when your phone is on its last leg of life, or your endearing yet clumsy grandchild has dropped your phone in the lake on your family vacation, or you’re deciding what to recommend for your aging parents who are technology-resistant, where does your mind go first??
Let’s go again. How about…cars.?
When you’re evaluating the best option for your child’s first car, or what you’d like to drive your baby nephew to the playground in, or what makes you feel comfortable driving cross-country for business meetings, do you have an immediate car company that comes to mind?
Every company has a brand identity. It’s just deciding if it includes your input, or if it's developed elsewhere.
As Steve Forbes, Chairman and Editor-in-Chief of Forbes Media emphasizes: “Your brand is the single most important investment you can make in your business.”
Our world may be heavily digital, but it’s built by human connection. When it comes to your company, people are already discussing what they perceive your company to do, their experience, and their recommendation. Wouldn’t you rather be involved in crafting that narrative as opposed to leaving it exposed to external interpretation?
IN CONCLUSION
Your company’s brand is the non-negotiable, tangible representation of who your company is, and why it matters. By prioritizing a clear and concise brand identity for your company, you provide an opportunity to create alignment between external and internal stakeholders, employees and customers alike. But don’t just take my word for it:?
“If people believe they share values with a company, they will stay loyal to the brand.” – Howard Schultz, former CEO of Starbucks?
“If you need the user to tell you what you’re selling, then you don’t know what you’re selling, and it’s probably not going to be a good experience." –Marissa Mayer, former CEO of Yahoo
“The way a company brands itself is everything–it will ultimately decide whether a business survives.” - Sir Richard Branson, Founder of the Virgin Group
Additional Resources To Explore:
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