Think About This:
“Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening.” TOM GOODWIN
Some of the largest and most well known “brands” in the world have nothing to do with their labeling. It is all in the Branding and Positioning of their companies. Let that sink in.
Cambridge Dictionary defines branding as “the act of giving a company a particular design or symbol in order to advertise its products and services.” At one point in time this was considered to be an accurate description of branding – at least, that's what many people thought back then.
Obviously, not all of us can be Uber or Facebook, but we can stand out and be recognized among our industry. Our brand should encompass everything we are about - everything we do, not just a label or title. In my opinion, your brand is more like a visual & written meme nowadays. It should convey an entire thought or idea at a glance AND encompass everything your agency stands for and represents.
For many, branding is still considered just about the visual identity – name, logo, design, packaging, etc. But, the concept of branding and its understanding has evolved enormously over the years. Sadly, the same old vision of branding is being preached, even by high-level marketers. It is time for change.
Just like Uber, Facebook and Airbnb you are selling an idea, a concept, a dream and that is what your brand needs to say. Here are a few facts to get you started and in the right direction of making your brand stand out while representing what you actually do.
1. 73% Of Consumers Love a Brand Because of Helpful Customer Service.
People are important - We have utterly lost sight of the human aspect of our brands. We’ve become obsessed with efficiency, trivialities, and technology - which are crucial to running an effective business - but to truly build brands requires empathy and time. Branding in 1950 is still true today, we just have amazing new tools to do it with.
2. 89% of Shoppers Stay Loyal to Brands That Share Their Values.
This can be a tricky one because of different values, but most people want what is best. Most people want to show compassion and respect for others. Do your research on your target audience and make sure to represent their values and also make sure they meet up with your values or at least see things from their perspective.
3. 94% of Customers are Likely to Show Loyalty to a Brand That Offers Complete Transparency.
A consumer behavior study which included 2,000 respondents suggests that people are significantly more loyal to brands that are transparent about different aspects of their business. Such as, consumers value companies that are honest about the ingredients they use. Go back to the Golden Rule - Do unto others as you would have them do. This is not preaching - this is what works. https://bit.ly/3f7gYuk
4. Video Content, Interactive Articles and Social Content a Must Have.
A HubSpot study that included 3,000 respondents reveals video content is the most engaging. More than half of the people surveyed indicated they wanted to see more video content from the brands they support, followed by interactive articles and social content. https://bit.ly/3fOLt7t
5. 62% of Consumers Would Boycott a Brand That Politically Offends Them.
Emotions are High right now and will probably get higher before starting to level off - stay away from politics. As Consumer Thermometer’s study reveals, bad branding can have detrimental consequences for your business. It's important to think about how your branding will affect customers before you start. If you share opinions that are too controversial, then there is a chance some of them may disagree and it can cost you in business! https://bit.ly/3hHPD3p
6. 61% of People are More Likely to Buy From Companies That Deliver Unique Content.
Think out of the box when delivering content. It has become and becoming more and more difficult to grab your audience's attention, much less keep it. Be unique and use your talents to get their attention. https://bit.ly/3u6bMej
7. 64% of Consumers Purchase a Product After Watching a Branded Video on Social Networks.
According to Forbes, creating consumer impressions through social media videos can generate an abundance of leads. If you’re a small business, and uncertain how to create a brand, here’s a tip – video content on social media. Use Instagram Stories, product demonstrations, short branded ads, and influencer reviews to inspire people to buy from your brand. https://bit.ly/3vaNocE
8. On Average, it Takes 5 to 7 Impressions for People to Remember Your Brand.
People need to see your logo and brand more than 5 times to be able to connect with you and your company. Social media is a great way to get in front of your people along with professional branding techniques to send a consistent yet dynamic brand message to consumers every day. https://bit.ly/3ypRekh
9. 34% of Small Businesses Invest in Video Marketing.
Did you know only a third of small businesses use video? They are missing out on a great way to communicate values and engage with their customers. Video is key!! https://bit.ly/3yujeDi
One of my students said it perfectly, “Everyone needs a strategy or plan to succeed and a big part of that strategy is your BRAND. It is important for people to understand you and what you have to offer. It builds confidence, shows loyalty and tells them you are the right company for them”. He understands the value and importance of Branding.
As marketers we hear about brand recognition/positioning all the time but it can be misunderstood. What does your Brand say about you? Does your brand point people in the right direction and show them who you are and what you represent? Branding is more than a name or a color; it is a picture of who you are and what you do.
Your BRAND is your story and the direction you're heading not just a title. Just like the companies mentioned above, they have branded a market, a service that may not make sense and yet works beautifully.
Get out there and make something interesting happen. Please reach out to me if you have any questions or need a little direction. I am always here to talk.
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