Strong brands share similar attributes
77% of marketing leaders say a strong brand is critical to their growth plans. (Content Marketing Institute).
A strong brand is essential for any business looking to scale up from survival to success. Strong brands share many of the same attributes;
- They are meaningful; built on a service or product truth
- They have a unique, simple, selling proposition
- They are consistently represented across all touch points
- They develop a sense of trust and authenticity with their audience
- They connect emotionally before rationally
- They’re never just a commodity
- They influence choice
- They create loyalty and advocacy
- They command a price premium
According to Forbes 2019 list Mercedes Benz “Brand Value” was $33.2B with BMW close behind on $29.8B.
Strong brands are, of course, also a significant asset on the balance sheet. They can attract investment and be the cornerstone for sustained growth. During times of socio-economic frailty, as consumers ride out uncertainty, their distrust in the economy can be replaced by their trust in your brand, when evaluating essential purchases.
Your brand is the single most important investment you can make in your business” Steve Forbes
The brand portal imperative
Investing in your brand doesn’t stop at the identity, positioning, personality or experience. Managing all components of your brand equity, internally and externally, across all touch points has become a strategic imperative to successfully scale your business. Building an audience that is fully engaged with your brand, requires a brand to be consistently represented, this can lead to an uplift in sales by up to 23% (Forbes). Marketers are no longer wondering whether they need a brand portal, they are now asking themselves if their brand portal is working as well as it possibly can.
Brand portals deliver a lot more than just centrally managing your guidelines, assets, templates and playbooks. They
- foster inter-department and agency collaboration
- deliver brand efficiency, through accessibility, transparency and brand adoption
- standardise marketing workflow and processes
- encourage best practice for brand use
- reinforce your cultural identity and values
As businesses scale, brand consistency during business transformation can be both reassuring and continually reinforce the vision upon which the brand was built.
If you’d like more information on how BrandMaster has delivered brand portals for Mercedes Benz, Careem, O’Learys and BMW then please contact us below.
By Anil Noorani, Managing Partner, TKM Consultants