Forbes described branding once as "The mental representation (idea) of a company or a product in a consumer’s mind." Ideally, that idea will invoke an emotion that inspires the desire to purchase.
Building a brand usually starts with two essential ingredients: a great product + strong marketing.
The most valuable brand in the world is the Coca-Cola brand worth over $70 billion.
A significant part of Coca-Cola's success is its emphasis on brand over product. Coke doesn't sell a soft drink in a bottle - it sells “happiness” in a bottle. Coca-Cola has consistently communicated one strong and compelling message: Pleasure.
Strong brands aim to sell consumers the experience and lifestyle associated with the brand.
And no one does it better than Nike - the second most valuable brand in the world. Nike's advertising rarely mentions its products. Instead, Nike campaigns invoke the right emotions through carefully crafted content that tells meaningful stories.
By associating itself with some of the world's greatest athletes Nike's brand value has grown to over $50 billion.
Successful brands focus heavily on emotional storytelling.
Emotional storytelling is a powerful branding tool. It begins with identifying the emotional trigger in your customers’ purchase motivation. The next step is to create a story, that will evoke this emotional trigger - these could be brand founder stories, employee stories, customer stories and inspirational stories.
88% of consumers say authenticity is important when deciding what brands they like and using a signature color can increase brand recognition by 80%.
An authentic brand is one that decides to be transparent and consistent in its messaging and branding initiatives. It has business values it remains true to, and most essentially, it is honest.
Design plays an important role in building an emotional and authentic brand connection. Brand design influences how people perceive your brand and creates a brand personality. It can make your customers feel closer to you and value you for your personality, not just for selling products.
Consistent presentation of a brand has been seen to increase revenue by 33%
Brand design plays an important role in strengthening brand reputation and authority. The right colours, typography, imagery and overall style helps to build consistency, which in turn helps customers trust your brand more.
A strong brand is essentially one that conveys a clear message and has a consistent and memorable brand image in its customers’ minds.
If you want to build a brand that lasts, you need to create a community of like-minded consumers and advocates of your product or service.
Brand communities are an essential tool to build trust.
They open up a brand, giving it a face and a voice, and a direct, unfiltered channel of communication. Customers will start to feel heard, recognized and rewarded, and from there, trust will grow.
77% of consumers buy from brands who share the same values as them and 46% of consumers say they would pay more for brands they trust.
Making human connections, remaining innovative while staying true to simple principles, emotional storytelling and creating branded experiences are all global marketing techniques to create a strong brand identity.
ABOUT THE AUTHOR
Daniela Schardinger
Founder
As the visionary behind ELAFY Consulting’s brand, Daniela is a seasoned corporate professional with 15 years of experience in brand management, marketing and advertising.
"What I love about Marketing & Branding is that it is never done. It is about perpetual motion."
Let's share our stories, build communities that love authentic brands and have fun along the way!"
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