If someone were to ask you about your brand, what would you say? Many small businesses believe that branding is only for the big guys. That’s one of the misconceptions around the art and science of branding. The fact is that if you are in business – you already have a brand. The question is, how do you let it shine?
Brand fallacies
Branding is one of the most misunderstood aspects of marketing. In fact, many marketing professionals don’t really understand it. A brand is not a logo. A brand is not a slogan or colours on a sign. Those are visual representations of the brand but they are just the window dressing. Your brand is your reputation. It’s what people say about your business when you’re not in the room. Your brand is not what you think it is – it’s what your customers think it is. The key to a successful brand plan is to distill your reputation from the customers’ perspective into a point of view. This is your brand. It’s the point where logic meets magic and great things can happen to your business.
Why Brand?
It used to be true that products were differentiated based upon features and benefits. Sony was good; no-name electronics were not so good. As competition intensified, there suddenly wasn’t as much difference between the traditional brand name and the lesser known item. Quality improved and you could pretty much get the same product at a variety of vendors. It became clear that selling based upon features and benefits wasn’t going to help maintain profit margins. Convincing the consumer that there was greater value beyond the product itself was the way to protect customer loyalty. This is where brands have their roots and they contribute real value to the bottom line. It boggles the mind to see that the tangible assets of Coca Cola have been valued at approximately $9 billion US but their brand is valued at $67 billion (Interbrand, July 2004). That’s $67 billion for something that doesn’t exist on the physical plane – it exists only in our minds, but if Coke were to sell tomorrow, they’d be compensated for that brand equity. On the flip side, look at companies like Nortel and Enron. Those companies have been devalued primarily due to the erosion of their reputation – their brand.
Finding your inner brand
Leonardo DaVinci once said that he didn’t think he created his sculptures; he merely took away the extra stone to uncover what God had already created underneath. The best brands work the same way. Look at your business and ask yourself, “what do I do for my customers?” Remember that the old joke in marketing is that customers don’t buy 1/4 inch drill bits – they’re buying 1/4 inch holes. So, do you sell floral arrangements or do you make life more beautiful? What need are customers filling in their lives when they buy your products? Are they trying to add a “bit of spring” to the occasion or a “touch of class”? You can see how many different ways this can go. You may do well to have a contest where your customers fill in a brief survey answering the question “I buy flowers because ...” or “flowers make it special because ...” Ask them to tell stories of how flowers enhanced a cherished moment. The seeds for your brand will be in their answers.
Communicating the Brand
Once you’ve established your “brand positioning,” it will be important to communicate it. If your brand image is one of gentleness and class, then your colours, logos and mode of communicating will also be soft and elegant. This is known as “tone and manner” in marketing. Describe your brand as though it were a person. Is it outgoing? Does it have wry humor or is it serious? Is it trendy or traditional? Do you hear it as a female voice or male voice? Slogans are a good way to communicate the brand but they’re tricky to create. It’s tough to boil down an entire positioning statement into one line of maybe 3-5 words. Think of the really famous slogans; Just do it. It’s the real thing. You deserve a break today. Can you “name that brand”? If you said Nike, Coke and McDonald’s – give yourself a gold star. In fact, the Coke and McDonald’s slogans were from the seventies, so the fact that you recognize them thirty years later speaks to the power of a good slogan. Look carefully at these slogans. They don’t mention running shoes, pop or fast food. They speak of empowerment, quality and self reward. That’s not about tapping into the traditional USP (unique selling proposition), it’s all about the UBS (unique buying state – of the customer). I was once told by a seasoned advertising agency professional that if you want to write a great slogan, pretend you’re describing what you do to a five year old. Give it a try! A strong slogan can really communicate your brand effectively.
Studies have shown that companies with strong brands grow faster and are more profitable than those who don’t have a positive image. If you’re in business, you already have a brand. With a little introspection and effective communication strategies, your brand could become your most valuable asset.
Michelle Brisbois is a marketing professional with experience in the food, pharmaceutical and financial services industries. She
specializes in brand strategies.
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