The above names represent well-known products. We can all probably conjure up their logos, descriptions, and our own feelings and/or beliefs about each in a matter of seconds because each of these products has gone beyond simply choosing names and logos and created brands. Case in point: the Martha Stewart Living Omnimedia brand isn’t just a multimedia company, it’s a lifestyle, and a great deal of effort went into crafting that identity.
At BCG, we tell clients “Your brand is your word.” The information that you convey to consumers through your brand is your promise. It stands for not just the product, but what the product means.
Branding is not a modern concept – not by a long shot. Artisans have been marking their wares with identification since prehistoric times, and as commerce evolved, branding followed.
Marketplace competition requires anyone who makes a product – from the Etsy artist down the road to BMW headquarters – to set his or her goods apart from similar merchandise. Enter a branding strategy and execution.
As the Caterpillar said to Alice, “Who are you?”
Everything about your brand should reflect what your business stands for, not just what you produce. Is your product cutting-edge or classic? Are your ideal customers in their 20s or their 40s? Do you offer the affordable option or the luxury one?
In other words, are you Prabal Gurung for Target or are you Burberry? Both are clothing lines, but they target divergent audiences and trigger completely different responses from consumers. You must be clear on your identity and then build your brand around it.
In fashioning your identity, some straightforward questions can guide you:
- Do you have a mission statement? If you are a not-for-profit organization, you certainly do, but they are also worthwhile to corporations. While making enough money to be successful and keep the doors open is important to you, corporate values such as supporting specific initiatives and programs (TOMS shoes), a commitment to green practices (Adobe Systems), or providing opportunities for those living in impoverished areas (Nike Foundation's Girl Effect) are important to more and more consumers. As our individual identities as people are a mix of characteristics, so are business identities, and you want consumers to know what sets you apart from the competition.
- What makes your product special? Why should the consumer pass over their usual choice and try your product? It’s not easy to lure people away from items in their comfort zones, so this needs to be compelling. Again, it’s setting your product apart from the competition.
- Even if your company is a startup, there are people out there who have experience with your goods or services – they’re your first focus group. What do they think of your company, your product(s), and your customer service? If you’ve been in business for a while, you have a great opportunity to look at your customers’ behavior and learn what they love, what they dislike, and what they think.
- What do you want people to think of when they see your logo or hear your name? Keeping this list down to two or three descriptive words will help you maintain brand focus.
At BCG, the step following defining your identity is logo development. Logos can be the brand name, an image representing the brand, or a combination of both. Sometimes a tagline is included; for example, often Nike uses “Just Do It,” but it’s just as recognizable if they only use their name and/or their swoosh.
It’s important to take your time on logo design, as it needs to represent your brand for many, many years. Changing an established logo should not be undertaken lightly, as that is how consumers recognize you immediately. If someone says “Wendy’s,” what is the first thing that pops into your mind? It’s probably not a Frosty or a burger, but their name with their red-haired, Pippi Longstocking-esque mascot. People get familiar with logos and think of them as the brand itself. Because the brand and the logo are often one and the same in people’s minds, you want to get it right (Google “worst logos” for confirmation). Your logo will be almost everywhere, from your signage and business cards to your invoices and advertisements.
Next comes the decisions about how to use the four “W”s to promote your brand: what, where, when, and to whom.
- What is your message? This is where having a solid sense of your corporate identity comes back into play, because your message must be consistent. Your logo will remind people of your message and the two will become intertwined in the minds of current and potential customers.
- Where are you going to spend your promotion dollars? Your target audience will probably help you to determine this. Do you reach them through television advertising, remarketing web ads, or through an app such as Pandora? These certainly aren’t mutually exclusive avenues, but you’ll want to throw resources behind some more than others. If your product is geared toward people who like to cook, a Pinterest plan and ads on food and lifestyle sites could work to your benefit, so you'll want to focus your investment there.
- When are you going to promote? This ties in closely to knowing your target audience, as you will want to be aware of their interests and their patterns. For example, if your product appeals to active men in their 20s and 30s, you may want to look at advertising during sporting events or remarketing on websites devoted to outdoor activities and sports.
- Who is your target audience? Knowing what you want to communicate to specific demographics and what their behavior is cannot be underestimated. This will influence all of the above factors, from type of advertising to its placement and timing.
It’s important to not overlook the front lines when it comes to communicating your brand: your staff. Your staff should be interested in your brand and care about it enough to act as an ambassador for it. They should be able to comfortably convey the spirit of the brand and be proud of it. They should also care enough about it to bring up any issues they see in order to strengthen the brand; for example, if a customer service rep notices customers taking issue with a particular aspect of your brand, he or she should feel able to bring it up and know that the brand managers will take it under advisement. Team support will only make your brand - and your business - better. Of course, employees who are enthusiastic about your brand are invaluable for many other reasons, but that’s a post for a human resources director!
Your Brand Is Your Word...
...so make sure that it conveys what you want and promises only what you can deliver. A well-developed brand is one of your greatest assets, and taking the time, effort, and resources to get it right will pay off in the long run.
If you'd like to talk about your brand, please email or call us at 315-797-5088.