Why your brand is not just a logo
While it’s attainable to hire a graphic designer in Philippines for creating your logo, building your brand is harder. It might even take you a few tries before you can start using it. In fact, building a brand will always be a Goliath to any unsuspecting David. It will be even harder if you don’t acknowledge your brand for what it really is. What is your brand, really? In this article, we’ll break down why your brand is more than just a logo.
What is your brand?
These days, many pseudo-experts throw in plenty of meanings to the word brand—without fully acknowledging its essence. At its core, your brand is a corporate asset in your business. Cut all the fat and what will remain is a tool to make you earn more money. This is what doctors Schultz & Schultz believe in their book, “Brand Babble: Sense and Nonsense About Branding”. Besides being an asset, your brand is a promise of quality, reliability, and relief to your customer chain. By materializing this promise, you’ll make more money.
What is brand equity and why is it important?
Your brand equity is your brand’s commercial value. It’s important because it determines how your brand does well in the market, especially in your customer base. A brand with positive brand equity is more valuable, which means you can actually charge your products or service for a higher price. On the other hand, a brand with negative brand equity will have customers opting for your competitors. And some of them might even have a cheaper version of your product or service. Some good examples of brands having positive, even outstanding, brand equity are Coca-Cola, Starbucks, Facebook, and Apple. Meanwhile, brands that did an oopsie in preserving their brand equities are Bic, Kellog’s, and Kenneth Cole. Theirs are cautionary tales that will make any marketer tremble.
How to spot an effective brand from a mile away
Before you rush to hire a graphic designer or a copywriter, you must learn how to detect a well-performing brand. And make sure to take down some notes, too!
1. It leaves a lasting impression.
What do iconic brands have in common? Overall, these brands have captivating stories, a solid brand identity, and a strong community. And those iconic brands didn’t slack off after making a strong first impression. Perform a rigorous brand audit and you will sustain a memorable brand.
2. It has meaning.
Being a brand with meaning takes more than just having values. Did you know that most people would feel fine if 77% of the world’s brands didn’t exist? Therefore, take heed and truly deliver that magic that your product or service promises. Besides that, you must invest in efforts that aim to improve your customers’ quality of life. Stand for something. Be responsible.
3. It’s adaptable.
Brands that adapt well to the tides of time also last long. There is no single formula; however, brands that do it right know how to listen. Now, you don’t have to rebrand every year. Just be firm with one lasting idea at the heart of your brand. This way, you won’t lose your brand identity even if you strive to evolve.
4. It’s transferable
Remember brand equity? Savvy brands have transferable brand elements; therefore, it’s also easy for them to transfer their brand equity. That means their new products or services will instantly make an impression because of their strong brand equity.
5. People can’t get enough of it.
Likeable brands are also effective brands. They don’t have to try hard to communicate themselves. That’s because their customers like them—people tend to respond more to brands they adore. To become more likeable, you don’t have to try too hard or take yourself seriously. Just focus on getting to know your customers and providing real value to them.
6. It is secure.
With so many copycats around, it’s becoming more challenging for high-performing brands to defend themselves. Effective brands take the right steps to protect their brand. Those include trademarks, domains, or copyrights and patents. If you own a small business, it’s even more crucial to protect your brand identity. Remember, your branding is your money-making tool! You can’t afford to make this asset vulnerable to your competitors or frauds.
5 brands that are doing things right
Where do we even start with this giant? With multiple branding milestones (ex. Changing the Macintosh to Mac in 1998) and brand value of $182.8 billion, they seem to have hit the right notes in branding. Apple’s power lies in so many things—prioritizing customer experience, cultivating brand loyalty, and most importantly, delivering their brand promise.
As what one author claims, Coca-cola doesn’t sell coke; they sell happiness in a bottle. And he is absolutely right! Coca-cola is successful mainly because of their adaptability—staying an industry leader for more than a century is no simple feat. Through it all, Coca-cola has innovated, however, stayed true to their brand identity.
Like other powerful brands in this list, Starbucks has built—and is continuously building—a global iconic brand by doing things differently. However, their most notable feat was understanding their customers. Whether it was through quantitative research or personal conversations with their patrons, Starbucks wisely invested in these precious insights. And because of those, they are continuously proliferating an unrivalled culture—teaching the world how to drink coffee!
IBM’s branding strategy success can be attributed to its Integrated Marketing Communications (IMC) program. According to Stephen Zoeller, IBM has a solid IMC program, where they trained their employees to become their own brand champions. This has helped cultivate a strong internal brand-focused approach, further cementing their distinction against their competitors!
Amazon’s brand flies to great heights because of its firm belief in customer obsession. One of the stark examples of this is its acquisition of Zappos, a company that religiously believes in treating employees as its extended families. Another factor is Amazon’s ability to redefine the customer experience. The catalysts? Alexa and Echo, which both offer an interactive and immersive shopping experience for Amazon’s patrons.
You see? Based on the lists I made above, it’s easy to conclude your brand than just your logo. At the heart of your brand is where your identity and your drive to provide value should lie. And if you need help with your logo, we can help you here at Design Empire.