Most people think of a brand as a logo or product. But a brand is much more than that. A brand is a total customer experience with your company, from their first interaction to their ongoing relationship. It’s everything you do, say, and stand for — and how customers perceive all of those things.
A strong brand can help you attract new customers, charge premium prices, and build a loyal following. Studies have shown that brands are worth up to three times the value of comparable unbranded businesses.
Creating a strong brand starts with understanding what makes up a brand and what you can do to influence each element. Here’s an overview:
1. The Perception of Your Brand
How customers perceive your brand is perhaps the most crucial element of a strong brand. After all, if customers don’t see your brand in a positive light, they’re not likely to buy from you.
Many factors influence how customers perceive your brand, including your:
Logo and other visual elements
Name and tagline
Products and services
Customer service
Pricing strategy
Marketing and advertising campaigns
2. The Promise of Your Brand
What do you want customers to think of when they hear your brand name? That’s the promise of your brand. It’s the one thing you want customers to know about your company above all else.
For example, when customers think of Nike, they should think of “athletic gear.” When they think of McDonald’s, they should think of “fast food.” And when they think of Apple, they should think of “innovative technology.”
3. The Personality of Your Brand
Your brand personality is how you want your brand to be perceived by customers. Do you want to be seen as friendly and approachable? Luxurious and high-end? Fun and quirky? Knowing the personality you want for your brand will help you decide everything from your logo design to the tone of your marketing campaigns.
4. The Positioning of Your Brand
Your brand position is how you want your brand to be seen about other brands in your industry. For example, if you’re a luxury car brand, you might consider yourself the most luxurious and high-end option. Or if you’re a budget hotel chain, you might position yourself as the most affordable option.
5. The Presence of Your Brand
Your brand presence is how visible and present your brand is in the market. This includes everything from how often customers see your ads to how easy it is to find information about your company online.
Creating a strong brand requires a deliberate and strategic approach. But the effort is worth it — a strong brand can give your business a significant competitive advantage.