Why Your Brand Is Your Best Investment
Reflect on the impact of renowned brand names like Apple, Nike, Harley Davidson, and Coca-Cola. A mere mention of these brands can evoke vivid images, emotions, and aspirations. Simply hearing their names can establish an unconscious bond with the brand story, fostering positive sentiments towards your preferred or favored products. Similar to the adage that Rome was not constructed in a day, these iconic brands did not emerge overnight. It requires years of dedicated brand investment for consumers to associate the brand with its narrative.
Creating a distinctive brand offers a significant benefit: you are more likely to be selected based on the unique identity you have established, rather than solely on being the most cost-effective solution in terms of performance and price.
A significant challenge in establishing a strong brand is the immediate focus on profit. While it may seem natural to prioritize the return on investment for each marketing campaign, this approach often falls short in building a well-known brand with sustainable profitability.
Investing in brand identity is the solution?
Corporate identity goes beyond the products or services offered to customers. It's not just about the benefits they receive as loyal patrons or the outcomes they anticipate when placing their trust in your brand. A brand it's more than just a perk or a solution. It represents your essence in the minds of people. For instance, consider Disney. The brand is not merely about movies or theme parks; it embodies the audience's confidence that each creation holds a captivating and enchanting story within.
Why is brand investment important?
When we invest in the brand rather than just a single product, we establish a lasting relationship with our audience. This leads to a loyal group of potential buyers each time we introduce something new. By linking a logo to an upcoming product, the audience, familiar with past brand campaigns, anticipates and supports the new product right away. Even after the campaign or product launch, the consumer's connection with the company persists as the focus is on shaping a concept for the public, not just a business. Investing in branding means investing in shaping consumers' perception of the value your business offers. The brand acts as a foundation for marketing campaigns, products, and all business activities, leveraging existing value and adding new dimensions with each campaign.
Developing a brand also cultivates customer loyalty. When customers feel connected to your brand, they are more likely to make repeat purchases.
Converting a visitor into a customer requires more resources than retaining existing customers. While it boosts sales, retaining customers in the long term is cost-effective. Convincing a customer who already values your brand to pay a premium or continue supporting your brand is more cost-efficient than acquiring new customers. With a well-established premium brand, sales become more effortless as a loyal customer base is already in place.
Does investing in corporate identity equate to brand identity?
Corporate identity transcends mere products sold to customers. It's not about perks for loyal customers or the outcomes they anticipate when they place their trust in you. A brand it's not just a benefit or a solution. It represents who you are in the minds of people. For instance, consider Disney. The brand isn't just about movies or theme parks. It embodies the assurance that every creation carries a captivating magical tale within.
Amortization of investment in relation to the value of the brand
Marketing or sales efforts without a well-established brand result in a constant cycle of starting over and disrupting campaigns. Each new campaign or sales tactic requires building from the ground up. It means reaching a fresh audience every time, convincing them to trust in your product or service enough to make a purchase. Nonetheless, for a well-development brand, advertising campaigns rely on data and audience insights from past campaigns. Every new campaign serves as an additional investment to further understand your audience and deliver what they seek. At this point, choose either to reduce marketing investments or maintain investments in order to reach a larger audience.
Brand creation
Every marketing strategy is built on branding, regardless of the size of the company, whether it's a multinational corporation or the smallest Airbnb listing. Its role is to symbolically express values and aesthetics. Consistency, organization, and cohesive aesthetics form its foundation.
Begin by establishing a name and a logo. These elements serve as logical focal points that give a tangible presence. By assigning a name and a symbolic logo, the general concept transitions into something more concrete. This adds a layer of depth, creating an aesthetically pleasing and visually appealing representation that evokes emotions and resonates with the audience. Rely on a a specific color palette, a slogan, typography, tone of voice and point of view. After establishing a visual language that is coherent, structured, and visually unified, develop a design system to maintain consistency across all partners and channels. Maintaining consistency across various communication channels is crucial for building awareness and should not be overlooked. By integrating the brand into every aspect of your work, you can strengthen connections with your audience and enhance profitability over time, enjoying the advantages that come with a strong brand.