If you think we are going to tell you that your brand is all about your visual identity- logo, website, product, packaging, that sort of thing-
YOU PROBABLY NEED TO READ ON.
This is not just another blog on branding.
A visual style is not a brand, and here’s why:
Once upon a time in 2004, in a study between Coke and Pepsi, subjects didn’t know what brand they were drinking. The part of their brain involved with preference judgment remained inactive, while the part associated with reward lit up. And it lit up more than when they drank Pepsi than when they drank Coke.
But when subjects were told they were drinking Coke (even when they weren’t), the preference judgment regions of their brains lit up and overrode the reward centers. Subjects preferred what they thought was Coke to what they assumed was Pepsi—regardless of what it actually was.
This is the power of branding
Companies that have successfully established a strong brand identity can reap numerous benefits, such as increased customer loyalty and a competitive advantage. One such company is Coca Cola, which has been around for over 125 years.
At Changing Tree, we understand the importance of branding in creating a lasting impression on potential customers, and we can learn a lot from Coca Cola's example. In this blog, the Changemakers at HQ have highlighted the key steps in branding and explained why they are essential for building a successful brand.
Step 1: Having Brand Clarity
The first step in branding is defining your brand. This involves identifying your brand's unique selling proposition (USP) and determining what sets it apart from the competition. This process should include your brand's mission statement, core values, and brand message. Defining your brand helps you establish a clear message that resonates with your target audience.
Who is the product for?
What the product does?
Why should consumers care?
BUT, you should be aware that while you set the tone and get the ball rolling so to speak, this does not automatically make you the ultimate brand authority. Your customers are the ones who ultimately define your brand. This is why choosing your brand’s core values are crucial, otherwise people may perceive your brand the wrong way.
Coca Cola's brand is defined by its unique taste and ability to bring people together. Its mission statement is to "refresh the world, inspire moments of optimism and happiness, and create value and make a difference."
Step 2: Conduct Market Research
Market research is a crucial step in branding as it helps you understand your target audience and their needs. You see, it's all about generating marketing insights which often forms the basis for successful marketing programs.
You can conduct online surveys, online focus groups, and online research to gather information about your customers. This information can then be used to create a brand message that resonates with your target audience.
For eg, An extensive research study of US retail shoppers by Coca Cola revealed that many people prefer smaller portions, leading to the launch of mini-cans and mini-bottles.
Step 3: Your brand positioning
Once you have defined your brand and conducted market research, the next step is to create a brand positioning. Often overlooked easily- because it isn’t as significant as getting Facebook Fans or Twitter Followers. However, it’s the best way to separate yourself from the competition, especially if you are in a crowded space.
Here’s a smart tip - A useful measure of the effectiveness of the organization’s positioning is the brand substitution test. If in some marketing activity- an ad campaign, a viral video, a new product introduction- the brand were replaced by a competitive brand, then that marketing activity should not work as well in the marketplace.
Step 4: Develop Brand Character
Yes, we did mention at the start that a brand is not all about visual identity, but partly it is. This refers to the visual and sensory elements of your brand, such as your logo, colours, and tagline. Once finalised, these elements then play out as a template to attach the rest of your ideas on.
Arguably one of the most recognizable brands in the world, Coca Cola with its iconic red and white logo and classic glass bottle has been one of the hottest brands to sell.
Step 5: Build Brand Awareness
Once you have developed your brand identity and created a brand voice, the next step is to build brand awareness. Brand awareness helps to build trust between you and your target audience. Why does this matter? Trust is the most important according to 53 percent of people in a recent study in deciding whether to shop with a new brand. This can be achieved through various marketing channels, such as social media, advertising, and public relations.
Here’s a smart tip - A useful measure of the effectiveness of the organization’s positioning is the brand substitution test. If in some marketing activity- an ad campaign, a viral video, a new product introduction- the brand were replaced by a competitive brand, then that marketing activity should not work as well in the marketplace.
Step 6: Brand Control
Voila! Now that you have completed all the above steps, the last step is to monitor and evaluate your brand. It helps you identify areas that need improvement and ensure that your brand is consistent across all channels. You can use various metrics, such as brand recognition and customer satisfaction, to evaluate your brand's performance.
Brand leaders of 70 years ago that still remain leaders today- Coco Cola- only does so by constantly striving to improve their products, services and marketing.
To bring it all in a nutshell, branding is essential for building a successful brand and establishing a strong presence in your industry. By following the steps outlined above, you can create a unique brand identity that resonates with your target audience and helps you stand out from the competition. Get in touch with us today, as we understand the importance of branding, and we can help you develop a strong brand strategy that drives business growth.
