The Purpose of Your Brand
What is “brand?”
It’s a word we use every day, but its meaning can seem a bit amorphous. It’s actually very important to clearly define what brand is, because it’s arguably your most valuable strategic business asset.
Your brand is the reason for buyers to choose your products over your competitors’ – beyond price and utility. Simply put, your brand is doing its job if it makes buying from you emotionally indispensable to your customers.
The four jobs of your brand.
Your brand performs four very important functions that a product alone can’t do.
The first job of your brand is to make your offering distinct from your competitors’. This means having a memorable:
- Appearance – logos, fonts, colors, design, packaging, and, if brick and mortar, interior design and uniforms
- Way of communicating – in advertising and in your marketing materials, including your website
The second job of your brand is to help communicate, and deliver, a unique and compelling value promise to customers. This includes:
- What your offering will do for customers
- Why your offering will do it better than alternatives
- How the experience of using your offering will make customers feel
- How your customers will feel when they interact with you directly
You convey your value promise through your marketing communications and through the user experience you deliver based on:
- The quality and completeness of your offering
- The timely delivery of your offering
- The ease and pleasantness of the buying experience
- How well you treat your customers before, during and after they purchase from you
- How consistent all of the above are over time
The third job of your brand is to remove the perception of risk from purchasing your offering.
A finely crafted brand presentation and highly pleasant user experience, from first contact with your logo and communications to the purchase process itself, will give the buyer confidence that choosing your offering will be a positive experience and worth the time and money. Conversely, a poorly constructed brand presentation and buying process will make buyers wonder if your product is just as poorly put together.
The fourth job of your brand is to let people know who you are and what you stand for.
These are the reasons beyond product, price and user experience that will compel people to buy from you, stay loyal to you, and be a cheerleader for you. These include:
- The personality of your company – is it charismatic to your customers?
- What you are associated with, such as: prestige, luxury, practicality, prudence, lifestyle, community, philanthropy, progressiveness, conservativeness, innovation, consistency, dependability, honesty, caring and social consciousness, the environment, specific socio-cultural values, moral values, ethical values…
Do you represent and behave in accordance with ways of being, thinking and doing that will endear your customers to you? Could your customers naturally attach part of their identity to their use and endorsement of your offerings – like Harley Davidson owners, for instance? If so, your brand is doing its job.
- Your story – why you exist, how you came to be, the odds you overcame to get there, and how your offering is more than simply a product, but literally a movement that your customers will naturally want to join. Your customers should feel emotional when they hear your story – and, they should see a little bit of themselves in your story – as with any good story.
To sum up,
Your offering is what you physically provide to your customers. It has certain intrinsic features and benefits. It provides utility to your customers.
Your BRAND is the reason to buy from YOU. It is the thing that, done right, will make your organization and its offerings emotionally indispensable to your customers – even if your competitors have offerings with more utility.
Brand is what keeps your offering from being just a commodity. It’s your secret sauce.
The next question to ask yourself:
How does your brand fare?
Are you emotionally indispensable to your customers – or, could they happily switch to one of your competitors tomorrow? Are your customers evangelists for your brand? Or are they completely neutral about you? Are they retelling your awesome story – or do they have foggiest idea who you are?
The way to assess this is with a brand audit. To see what that process looks like, click here.
See you next time in the BRANDVIVO 360˚ blog.