What is your company’s brand? If you hesitated, you may be headed down the same path as many companies who tend to lose value their brand. Branding is something that holds significance like no other asset does. Value that cannot be taken from you, that is unless you allow your branding to take a backseat.
Bloomberg Businessweek writer Steve McKee writes in his article “Why So Many Companies Get Branding Wrong” (http://www.businessweek.com/articles/2014-01-07/why-so-many-companies-get-branding-wrong), that “a brand is the only corporate asset that, managed properly, will never depreciate… a well-managed brand can increase in value year after year.”
A brand is not so much about the colors, logo design or slogan as it is how your brand presents itself to the public. For example, you can hire the best graphic designer to create a colorful fun logo that stands out, but if a customer has a bad experience in your store and tells their friends, your logo no longer matters.
McKee gives some examples in his article about brands that have done it right and brands that have done it wrong. One example about branding gone right was centered on a sporting goods store. The customer in the example bought a pair of sneakers and a few days later got a call from a friendly sales-rep to confirm she was happy with her purchase. A week or so after that, the customer received a gym bag in the mail to thank her for her purchase. This particular customer was so impressed with the brand that she raves about the store to all her friends and family. This store did it right, they branded themselves as a customer centric company that takes care of their clients during and after the purchase.
As the example shows, branding is not always about the colors or designs of your company’s website, but more about what the company’s personality emanates to its customers. Is your branding focused on a quality product? Is it focused on customer service? Or maybe your branding is more based around the customer experience while in the store? Whatever you choose as your branding scheme, always make sure to keep it priority one. Regardless of the newest marketing hype, continuously stick to the fundamentals of your brand. When the marketing strategy of the week is outdated, you will always have your brand.