Powerful brands don’t just happen – they are developed though careful thinking and extensive work.
A brand isn’t just a memorable name. It’s a set of differentiating promises that link a product or service to its customers. It knows itself and communicated consistently, whether through advertising or packaging or pricing and customer service policies.
A successful brand generates customer loyalty and long term financial return. Liberty http://www.liberty.co.uk/is a great example of a company with a strong brand value and identity driven from the top down.
I enjoy the fly-on-the-wall documentary about the retailer and it was little surprise to hear that it has helped to boost sales, according to Managing director Ed Burstell.
I personally really like his refreshing attitude to the brand, who claims the brand continues to hold a unique position, retaining an “emotional connection” with customers in a retail sector where rivals are concentrating on renting space to concessions.”
Click here for the full news story from the Standard on 14th November http://www.standard.co.uk/news/london/liberty-reality-show-is-boosting-sales-says-department-store-boss-9860664.html
Here are 5 Top Tips from our experts at Creativedge for building a brand:-
1. Know your competition
To be different from your competitors, study them closely. Understanding the strategy and dynamics behind competing brands will provide the backdrop against which to craft a distinctive brand with long-term, competitive advantage.
For example, find out:-
– How do customers perceive your competition
– How committed are your competitors to different market sectors?
– Your competitors’ key strengths and weaknesses
2. Brand compatibility
Brand compatibility requires knowledge about the customer, including factors such as their needs, mind-set (attitudes and/or lifestyle) and environment (media behaviour, purchase behaviour, geo-demographic description).
Compatability is best described as how good the match between a brand’s value proposition (the unique differentiation) and the customer’s attitude and behaviour.
While customer value helps determine which customer to spend the marketing budget on, brand compatability helps to determine how to talk to the customer in a relevant way.
3. Align brand and business processes
Developing a brand image is a holistic process that begins inside the business and works outward.
While a name, logo, advertising and packaging can trigger positive associations that put your product on a customer’s ‘short list,’ it’s ultimately the customer’s experience that validates and sustains your brand.
Actual performance will determine brand success. Every business practise, customer contact and even employee attitude moist support the brand positioning.
Everyone from the CEO to the shop floor must be signed up to it. If your brand says ‘friendly’ and your switchboard operator isn’t, you aren’t! If you say ‘convenient’ and lock the doors at 5pm, you are not!
4. Consistent messages
To be a successful, a brand must consistently provide quality and satisfaction.
– It must meaningfully distinguish itself from the competition to create customer preference.
– It must be relevant, convenient and easily accessible to its target audience.
– It must appeal to their individual lifestyle, attitudes and beliefs.
Therefore it’s crucial that the messages you send about your brand be as predictable as the brand itself.
5. Deliver on brand promises
Keeping promises is more important that good intentions.
Authentic and demonstrable claims must link back to the brand promise and must be fulfilled. The top ranking brands reflect a top-down commitment to investing in the corporate brand as a long term strategic asset.
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