What is a Brand
“A Brand is more than a name or logo. It is a promise and a contract with every customer with whom you are dealing”
Sir Richard Branson
A brand is not what you say it is. It is what your consumers says it is. Each consumer creates his or her own version of it, because we are all emotional and intuitive beings. Whilst companies can’t control this process, they can influence it by communicating the qualities that make this product different to other products.
To start your journey on growing the brand of your business, the first step is to understand your business. How does your business differentiate itself from your competitors? Ask these three questions:
- Who are you?
- What do you do?
- Why does it matter?
If you have compelling answers to all three questions, meaning that customers find you irresistible, you have got a brand! If you don’t, it is part of our role to guide you and find the answers with you.
Differentiation works because of the way the human cognitive system works. Our brain acts as a filter to protect us from the vast amount of irrelevant information that surrounds us every day, but it learns to tell things apart.
You might think all accountants or coffee shop owners provide the same service. Maybe your potential customers feel the same way about your industry. So, how do you differentiate your business from another competitor? Businesses are like human beings: we have our own unique DNA. No two businesses do the exact same thing, just like no two humans are exactly the same.
Branding has five goals:
- To identify
- To inform
- To entertain
- To persuade
- To differentiate
We live and breathe building strong brands for businesses. It is our passion….why? Because we have seen that it works and it helps businesses grow when it is done right.
It takes a team to build a brand. In our next blog, we look at the next step. Collaboration.
THE INSIDE STORY