Top Ten: What’s in a Brand?
1. A brand is not just a name.
A brand doesn’t start and end with the name, logo, and glossy brochures.
It also includes the emotional attributes, organizational values, and
character traits that inhabit the mind of your customer when he/she
thinks about your venture.
2. Successful branding starts with your customers.
Understanding the needs, wants and values of your customers will allow
you to develop a brand that is relevant to them.
3. Know the value of your organization’s brand.
Does your agency have high name recognition in the community? Consider
how you can leverage your organization’s brand to support your venture.
4. Know the value of your organization’s brand within your target
market.
Your target market may have a positive association with your agency’s
brand, but that doesn’t mean that it should be the same brand for your
venture. Your venture’s brand should be relevant to your customers.
5. Your venture’s brand and your organization’s brand should complement
each other.
Your market research may lead you to establish an independent identity
for your venture. However, it should not be at the expense of your
agency.
6. Branding is about communicating clearly.
Successful branding means that all of your stakeholders—customers,
staff, and board – have a common understanding of your brand.
7. Branding takes time.
The investment of time in understanding your customers and developing a
brand strategy is more important than the money you invest in creating
your brand “markers”—your logo, colors, letterhead, etc.
8. Branding takes discipline.
Strong brands are not built by accident. Resolve to implement your brand
strategy and be purposeful about making adjustments to your strategy
based on feedback from your customers.
9. Failure to deliver on your brand promises can kill your venture.
Imagine if Volvos were unsafe. Customers don’t respond well to empty
promises. Seek to ensure consistency between your brand’s attributes and
the service or product you provide to customers.
10. Know the competition.
Your brand helps you differentiate your product or service in the
marketplace. Thus, in developing and managing your venture’s brand, you
need to be aware of the competitive landscape and be clear about where
you fit in.
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