What’s in a Brand?
Have you ever contemplated why some businesses do so much better than others in the same industry? And do you find yourself drawn to certain products,remembering certain slogans and tunes with good product recall?
Love it or Hate it, Go Compare, is probably one of the most well known brands in the country and having gauged the depth of feeling with the public about how annoying the Go Compare advertisements have now become, their advertising strategy has now moved to engaging high profile celebrities in trying to kill the Go Compare man off – Clever!
Building a strong brand requires a considered approach, one that includes a strategically planned story behind its creation. One that shapes how your customer thinks and feels about your product or service and one that evokes positive thoughts, beliefs, opinions and perceptions. Once you have established this relationship between your brand and your customers they will buy more from you, recommend you to others and choose you over competitors.
How well do you know your customers? This is key to your strategy. Who will buy your product and why? In what ways will your branding convince them to buy your product and how will you follow their behaviour and changing attitudes and adjust your brand accordingly?
Customers constantly make judgements about brands.
They Judge:
• The quality of a product or service
• Its creditability – whether it’s trustworthy, whether there is expertise in place and if it is likeable.
• The relevance to them
• Its superiority when compared with other competition
But you also need to connect with your customers – Brand Resonance – when your customer feels a meaningful and psychological bond with your brand. When this is achieved loyalty kicks in with repeat purchase and love of the brand leading to real connectivity. The highest sense of brand loyalty is when customers are actively engaged with your brand; join activities or groups around your brand e.g. follow your brand on social media; take part in competitions and follow your brand’s progress.
When building a brand, revamping it or adjusting it, define your identity; identify how to communicate the meaning behind your brand and determine your product or service to meet your customers’ needs on a social and psychological level.
What’s in a Brand? Pretty Much Everything!
For further information visit www.theplumconsultancy.com/marketing.
Image: Copyright – The Plum Consultancy – Licensed from Getty Images
