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Marketing Insight #4: Three Keys to a Great Brand

A lot goes in to building a great brand. Done well, the quality of the brand becomes even more influential than the quality of the product or service it provides. Brand loyalists will gladly pay more for your version even if it’s essentially the same as your competitor’s.

Many people hear the term “branding” and immediately think “logo.” Certainly the color, shape and texture of your company’s icon are important, but a logo is really just the clothes your company wears, and didn’t our mothers teach us not to judge a book by its cover? What’s more important is what lies beneath.

A company’s brand is its personality. It’s the way a business carries itself. It’s the way it conducts business even when no one is looking. It’s the way people know it’s you even when they can’t see your face.

Southwest Airlines is an example of a brand that people know – and love – for more than just their logo. When consumers hear the name, they think fun, freedom and travel. The company positions itself as a champion for the everyman and they’ve earned thousands of outspoken brand ambassadors as a result.

In order to be truly great, a brand must excel in three key categories.

1. An original idea.
A compelling brand fulfills an unsatisfied need in people’s lives. This doesn’t necessarily mean creating a new industry, it can be reshaping an existing industry. If reshaping an industry sounds too grandiose, then you’re not thinking big enough. Offer something truly unique to give consumers a clear choice.

2. Communication of ideals.
The best brands have a clear sense of self. They understand that ideals have to resonate through management decisions, the work environment and the consumer experience. The most successful brands benefit from being fun when competitors are dull, generous when competitors are greedy or warm when competitors are distant.

3. Delivering on the promise.
In nearly all instances, consumers have choices. You may call them competitors. At the first sign that a company’s practices are out of line with its positioning, customers will simply cut bait and move on. Successful brands place ultimate priority on creating an outstanding experience at every consumer touch point.