As David Ogilvy defined it, the brand is \u201cthe intangible sum of a product\u2019s attributes: its name, packaging, and price, its history, its reputation, and the way it\u2019s advertised.\u201d Brand identity, on the other hand, is how the consumers perceive the personality of the company and its products or services.<\/p>\n
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Elements of branding include:<\/p>\n
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- Company and\/or product name<\/li>\n
- Company logo and product packaging<\/li>\n
- Corporate color palette and a visual style guide<\/li>\n
- Website and corporate social profile design<\/li>\n<\/ul>\n
Elements of brand identity include:<\/p>\n
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- Voice of the brand<\/li>\n
- Look, feel, and aesthetic vibe of the brand<\/li>\n
- Core brand values<\/li>\n
- Brand personality traits<\/li>\n<\/ul>\n
A crucial part for your business success and brand identity is the outcome of your branding efforts<\/a>.<\/p>\n
<\/div>\nThe WHY<\/h2>\n
A reliable brand identity becomes a strong competitive advantage that will have a tangible impact on attracting new customers and retaining existing ones. Why? Because brand identity evokes emotions. When customers feel good about the brand, they\u2019ll develop positive associations and will naturally be more engaged and loyal.<\/p>\n
<\/div>\nConsider these statistics<\/a>:<\/p>\n
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- When individuals have a positive emotional association with a specific brand, they are 8.4 times more likely to trust the company, 7.1 times more likely to purchase more and 6.6 times more likely to forgive a company\u2019s mistake.<\/li>\n
- Ads with an above average emotional response from consumers caused a 23% increase in sales compared to average advertisements.<\/li>\n<\/ul>\n
The WHEN<\/h2>\n
In the article where we explored the seven stages of brand recognition<\/a>, we talked about the importance of building brand awareness once your company has seen its first customer successes. If you want people to start remembering you, buy from you, or work with you \u2013 it\u2019s time for you to focus on strategically building your brand identity.<\/p>\n
<\/div>\nNow, let\u2019s pause for a moment and think about\u2026 Coca-Cola<\/em>. What immediately comes in mind? Chances are, you thought something like \u201cjoy\u201d, \u201cfestive\u201d, \u201chappiness\u201d, or even \u201cChristmas\u201d. Coca-Cola is recognizable for its festive marketing campaigns and packaging, featuring holiday characters like Santa Claus and Coca-Cola polar bears. Their brand identity is so powerful because of the consistent storytelling and focus on the kind of lifestyle they want their brand to be associated with.<\/p>\n
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<\/p>\n<\/div>\nThe company wants their product and brand to be something people feel good about, so in addition to the traditional marketing and advertising campaigns, they also do not shy away from having a stand on important causes<\/a>. Here’s what they do instead:<\/p>\n
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- They have set up their \u201cworld without waste\u201d goals and publicly track progress.<\/li>\n
- They prioritize their initiatives for racial equity in the US\u00a0to take action both within the company and in their community<\/li>\n
- They have suspended their business in Russia in response to the tragic events in Ukraine<\/li>\n<\/ul>\n
One lesson to learn from them is consistency. Brand identity success is not a one-and-done thing, it requires ongoing attention.<\/p>\n
<\/div>\nThe HOW<\/h2>\n
One of the most important things you need to make well-informed decisions about building your brand identity is, well, data. Since brand identity is about your customers\u2019 awareness and perceptions, you will need to conduct market research<\/a>.<\/p>\n
<\/div>\nIdentify a set of customers you\u2019ll be able to talk to in person. When talking to your existing customers, consider including the following questions:<\/p>\n
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- When you hear our business\u2019s name, what main idea comes to mind?<\/li>\n
- What do we do that makes us stand out from other players in the market?<\/li>\n
- What qualities do you want or need the most from a company or product like ours?<\/li>\n
- Compared with other options in the market, where do we rank in terms of these qualities?<\/li>\n
- Who is the market leader with respect to [product name], and why?<\/li>\n
- Is there a need that we could focus on but haven’t?<\/li>\n<\/ol>\n
Additionally, reach out to a wider audience by conducting periodic surveys. These can help to keep a finger on the pulse of your target audience preferences and perceptions.<\/p>\n
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<\/p>\n<\/div>\nLooking to get started?<\/strong> Check out our\u00a0popular Brand Awareness Survey Template<\/a>. It includes 16 questions that will take just about 5 minutes for your audience to complete. It\u2019ll help you measure your target market\u2019s awareness and capture key insights on how consumers view your brand and how you can improve its positioning and perception among target audiences.<\/p>\n