Brand, by definition, is a Mark – initially created as a method of distinguishing ownership and origin. Over time, the Mark became readily identifiable, making it easy for a consumer (or buyer) to assign (or determine) value. Today, we’d like to think that it has become much more sophisticated – that brands are ‘positioned’, that consumers engage, embrace and fall in love with (your) brands. Intriguingly, the reality is much closer to where it all began.
In business, we all understand that Profit is what’s left after costs are paid from Sales (Sales – Costs = Profit). Good brands increase profits by commanding a premium – be that a higher price or greater loyalty through increased frequency of purchase.
What makes a brand strong? Three simple components are all that is needed – when I know what it does, what it looks, like and where to find it – it is game over. You win.
Of course, it’s never that simple. We live in a world that has an innate desire to complicate and then find justifications as why those complications are necessary. Take the complexity out and your brand becomes stronger. In a cluttered world, people want short cuts.
- What does your brand do really well? (in a maximum of three words)
- How distinctive are your brand’s marks? (Can I recognise it at a glance?)
- Do I know where to find you or should I Google?
Marketing Science has revealed much of the ‘what and why’. Now, this is about the ‘how.’