Customers want to emotionally connect
Brand building requires patience and lots of it. Brands are not built overnight but instead developed as part of a long-term company vision. As with any relationship that is nurtured over time, a strong brand will create lasting emotional connections with your customers.
Engaging with a brand you trust is often a very personal multi-directional experience, and no longer a transactional, one-directional moment in time. Brand loyalty will develop around your shared values, consistent representation of the brand and continuous “quality” interactions.
The most powerful brands in the world help customers realize some aspect of their own potential (Brandtrust.com).
Brands have the power to frequently nudge consumers, employees and shareholders guiding them to a desired outcome.
- customer advocacy and loyalty
- better credibility
- uplift in sales and ease of purchase
- market differentiation
- employee retention
- insulation from negative PR
- attracting influencers
- strengthening your financial performance and shareholder value
Inconsistent brand usage will create confusion for customers and negatively impact the relationship.
B2B brands fare better with customers when they use emotive rather than rational marketing messages (Marketing Week).
Brands that have longevity
When building a brand to last, it’s necessary to establish who you are, what you stand for, and why you exist. Amazon recognised early on that their brand wasn’t just about selling books. Disney chose to create unforgettable experiences whilst Mercedes Benz have managed to combine a long tradition of excellence and innovation coupled with the will to constantly reinvent itself.
Ferrari has recently been named the strongest brand in the world, according to the “Brand Finance Global 500 Report 2019”. Considered one of the world’s most desirable brands, it is both exclusive and aspirational, however accessible through its diversity into clothing and accessories.
Although brand equity can feel intangible, there is a concrete return on the investment it takes to build, maintain, and promote a strong brand. Marketing budgets should reflect that. Once you’ve established a strong brand, the next step is to ensure you protect it. (Khoros)
Protect your brand
Once you’ve established the “who”, “what” and “why” of your brand, continuous representation will ensure your brand lasts the distance. Companies must protect their brand assets and ensure they derive maximum value from the brand value chain. Orkla health, a leading global FMCG, recognised the need to transform the way they managed and shared their brand assets. Orkla Health decided that BrandMaster’s brand centre and media bank was best suited to protect their IP and provide a company-wide brand solution. This resulted in greater control, more transparency, business alignment and easy access to their extensive brand portfolio.
You can view the Orkla Health case study here.
If you’d like more information on how BrandMaster has helped Mercedes Benz, Helly Hansen and BMW build and protect their brand please contact us below.
By Anil Noorani, Managing Partner, TKM Consultants