Branding is one of those topics which confuses and bewilders many business people. So let me start by saying your brand is not your logo.
Your logo is your logo!
This is a logo:
What does this logo mean to you? What do you think of when you see this logo?
The logo is a visual cue or shortcut to everything your organisation stands for and the total experience you deliver to your customer.
The branding strategy process seeks to anchor your business in a position in the market place, own a position in the mind of the customer and create trust.
So, what one word do you think of when you see the Volvo logo?
Safety is synonymous with Volvo and vice versa.
For the last 70 years Volvo, has continued to set the standard for safety and even had air bags, in their cars, almost ten years before most car manufacturers.
Clearly, they are very serious about owning the position of safety in the mind of the market place.
Volvo understand that competing for market share takes understanding. Then it takes vision, purpose, design and execution.
Your marketing starts with your intention to create products and services that make a difference to the people you serve.
Volvo recognise that their brand is an extremely valuable asset.
How do you assign financial value to a brand?
So, how does your brand connect to your business performance and return on investment?
- Revenue Generator – increases customer loyalty and attracts new customers.
- Human-Capital Builder – helps recruit and retain talented people who will ultimately determine the company’s success in the market place.
- Employee-Morale Booster – motivates employees to protect and strengthen the brand.
- Asset Builder – An admired brand enhances the company’s marketplace value, and also allows it to demand a premium price in a brand-selling situation.
Successful organisations recognise the need to understand brand value and brand strength when making informed strategic decisions. By placing a financial value on such a powerful asset, it compels boards and management to understand and recognise the need for effective brand investment.
Like Volvo, do you see your brand as an asset to be valued?
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