How brand values make your business more valuable.

There are business names. And then there are brands.

In an ideal world, you want your business name to become a brand – a brand that means something to your target audiences and elicits the right feelings and emotions.

Having a strong brand is good for your business because it:

  • Increases customer recognition (people know who you are);
  • Creates positive perceptions (people have a good view of your business);
  • Heightens popularity (people trust your products and services and choose them over your competitors, even if they cost a bit more);
  • Improves customer loyalty (people become your brand ambassadors, spreading the good word to friends and family);
  • Attracts high calibre staff and keeps the ones you’ve got (staff – and potential staff – feel good about what your brand is all about and want to be part of it);

And

  • Increases the value of your business (businesses with a stronger brand tend to be more desirable among potential buyers, who then tend to pay more).

That’s all wonderful. But creating a brand isn’t just about taking your business name and giving it a fancy design.

Your brand is more than your logo – or your business name. It’s more than the products or services you sell. It’s more than how you to talk to your markets, through advertising, your website, your social media, whatever.

Your brand is about your values. What you stand for.

All that other stuff is about building your brand, and can change over time. Your brand value, however, should remain constant.

​It’s this value, after all, that resonates with your target audiences. That builds trust and increases engagement, so that when they’re after whatever it is that you offer, they’ll choose you over your competitors.

Your brand is what bonds you to your markets. And keeps them bonded.

A brand value, according to Rani Cohen, Chief Marketing Officer at Australian Family Lawyers, is the “perceived value, and how often people will choose one brand over alternatives. When people perceive that a brand is distinct and aligns with their personal values, it’s a really powerful competitive advantage.”

​Business valuation company Everedge Global says a brand is one of those intangible assets that accounts for over 85% of enterprise value for companies in the S&P 500 (some other intangibles include patents, networks and relationships, systems and processes and content).

​Brand value is really important, because it makes your brand, well… valuable.

Get a quote for branding advice & implementation.

Let’s talk about how we can help you add value to your business by transforming your business name into a valuable brand.

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5 ways to build your brand value.

Here are some ways you can build that valuable value into your brand.

1. Create a wonderful customer experience.

If you’re selling products (especially online), make it easy for customers to buy from you. Speed and convenience are key.

If the simple act of making a purchase becomes too complex, people will start looking elsewhere. And back it all up with a good customer service team.

2. Understand who your target audience is.

That way you’ll know what to say to them. Know their needs and appeal to those needs, both in terms of products and services, and how you promote those products and services. Don’t just talk about product features in your ads (or on your website); push the benefits that tap into your customers’ emotions.

Knowing your audience helps you to target your communications more effectively too. Instead of casting a wide net, channel your marketing to where your target audience lives.

3. Be remarkable (and tell everyone).

This is where you identify the big benefits of your product or service and make a really big deal of them. The happiest employees. The most innovative thinkers. The best customer service. The biggest range.

Focus on the superlatives. It’ll build a stronger brand value and help you stand out from the crowd.

4. Maintain a consistent tone of voice.

Like your brand values, your tone of voice needs to stay the same.

Using the same tone, language and opinions across your various market touchpoints (from the way employees speak to customers, to the way your website talks to customers) eliminates confusion about what your brand is all about – and helps your audience to bond with you.

5. Keep your design to a high standard.

People are visual creatures. They’ll determine whether your brand is valuable or not by what they see.

You may be a small business, but using a strong, visual branding system can make it seem more powerful and create a whole lot of positive messages in your audience’s mind.

On the other hand, bad design can destroy your brand value. And all that other hard work you’ve done to build your brand will go down the drain.

Get a quote for branding advice & implementation.

Let’s talk about how we can help you add value to your business by transforming your business name into a valuable brand.

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Creativity: It’s logical really.

It’s what people think of or perceive when they see or hear your brand name.

 

One of the ways you build that perception is through advertising. There are others, of course, such as your brand’s values, the kind of people you hire, and how you behave as a corporate citizen. Entire books can and have been written about this sort of thing, so for the purpose of this article, we’ll just stick to advertising.

Advertising is the fun part of bringing your brand to life. It’s the stuff that people see.

It could be a TV commercial, a billboard, a social media post, EDM (electronic direct mail), whatever.

Because it’s such a cluttered market out there, with everyone vying for consumer attention, the temptation is to do something wild and wacky.

To get noticed simply for the sake of being… noticed.

Fair enough. After all, you want your advert to be talked about by people at fashionable parties. But you also want to make sure that when people are talking about it, they’re talking about it in the right way.

To do that, you need to control your message – to temper all that creativity with a logical process that ensures what you say and how you say it appeals to your audience and supports your brand.

This process (or “rules” if you like) is encapsulated in what we call a Creative Brief.

A brief should be completed before any creative thinking even starts, whether you’re producing the campaign in-house or using an external supplier.

Rule Number One: Always go back to your brand essence

It’s that single sentence we talked about last month; that succinctly describes your brand’s relationship with your customer.

Your brand essence should be the mantra that is chanted throughout every stage of the creative process.

It doesn’t mean you have to be boring. Far from it. But it does mean you remain consistent.

I cited Coke in the previous issue as a great example of this consistency at work. Their ads are fun and vibrant and vary. But the overall theme or message remains consistent.

Look at Mainland Cheese as another example. Everything they do comes back to the fundamental message of “good things take time”.

Rule Number Two: Know your audience

When you’re briefing your team to come up with creative that resonates with your target audience, you really need to pinpoint who that target audience is.

A throwaway line of “women aged 25 to 50” simply won’t do.

Your team needs to know your target market as a real, well-rounded individual – not as a statistic.

A great example of this sort of thing at work is a scene from the movie What Women Want.

Mel Gibson (before he offended Hollywood) plays the creative director of a large ad agency. He’s pitching a campaign to his client. As part of the preamble, he shows a video of a woman jogging in a park. This, he says, is the client’s target market. As the client watches, he describes in intimate detail everything about this person – her passions, her family life, what she likes to eat for breakfast, what annoys her, what makes her happy and so on (it’s a wonderful scene that all budding creatives should watch – lobby NetFlix and demand it, if it’s not already there).

At the end of Mel’s presentation, you feel like you really know this person – which in turn means you know how to talk to them.

Third Rule: Drill down to the single most compelling message that you want your ad or campaign to communicate

This is often the hardest part of the process – to sift through all of that information about your product or service (all of which you happen to think is equally wonderful and important) and end up with one sentence of no more than 13 words that will convince your target audience to choose you over your competitors.

Each campaign you do will probably have a different proposition. A tactical one-off ad, for example, will require a different proposition to a product ad, which in turn will have a different proposition to a brand awareness ad.

It can be painful process, true. But it’s essential. Because it focuses everyones’ thinking and ensures your communication is clear, concise and relevant.

Now for the final rule

Back your proposition up with facts. This is what we call the “why should your audience care?” phase – or, to put it another way, the reason for them to believe your claim. Your communication doesn’t have to include every benefit under the sun. Think of it instead as a smorgasbord of goodies that your creative team can pick and choose from to create a compelling message.

These rules shouldn’t be an impediment to creativity. In fact, they’re quite the reverse. They’ll help you create campaigns that are relevant, compelling and true to your brand.

Your brand. It’s more than a logo.

A lot of people, when asked about their brand, will simply flourish their business card or point to the large letters emblazoned across their building and say “there, that’s my brand.”

 

Well… no. Not really.

That’s the ‘brand name’. A brand name is just one component of an overall brand.

This confusion around a brand name and a brand is understandable. After all, the phrase ‘branding’ really got traction back in the nineteenth century. That’s when ranchers in America burned their mark onto their cattle with a branding iron so people could see what cow belonged to whom.

Producers of packaged goods used the same principle, so that consumers could tell where that particular cough drop or bottle of beer came from. Case in point: in the late 1880s, the shelves of the local drugstore were fair groaning with bottles of soda pop from various producers.

Before a customer could reach for a Coke, the Coca-Cola Company needed to make sure that customer could tell the difference between a Coke and all those other caramel-coloured fizzy drinks. And so a famous brand name was born.

The definition of a ‘brand’ therefore ended up being the name given to a product or service from a particular source.

All that changed towards the end of the 20th century. Savvy marketers realised that there was more to the brand of a product or service than just its name.

They clicked to the fact that they could create a specific perception of their brand among consumers.

David Ogilvy (who, after working in espionage with Ian Fleming, set up the global advertising giant Ogilvy & Mather) called it “the intangible sum of a product’s attributes”.

In more basic terms, a brand became what the public thought of when they heard a particular ‘brand name’.

This perception worked on both a factual and emotional basis. An example? “It’s a grunty off-road four-wheel-drive and it’s exciting!”

In summary then, your brand name is what people see on your business card, the side of your building, your box of crackers or your email signature.

Your brand, however, is what people think of, or perceive, when they see or hear your brand name.

Perception is everything

So, how do you go about creating that perception?

First up, get inside the head of your target markets. What is it they want and how does your product or service satisfy that need?

Let’s use our friend Coca-Cola again as an example. They’ve built their brand around fun times and socialising. Everything they’ve done comes back to that one simple proposition. Their target markets want to relax and enjoy life. Coca-Cola is an integral part of that lifestyle – heck, they even took ownership of Christmas with their Santa design way back in 1931!

Now, start to think about your brand. What is its personality? How would someone describe your brand if it was a person? Is it fun? Responsible? Serious? Macho? Romantic? Do a brain-dump and try to refine the list down to five or six key traits.

Consider your brand’s inner driving properties as well – its Core Values. Examples here could be Honest, Innovative, Risk-Taker, or Passionate. Again, do a brain dump and refine your list. As a rule of thumb, the shorter the list, the more focused you are.

Now it’s time to write your brand essence. This single sentence statement (preferably no more than 20 words) describes your brand’s relationship with your customer.

Let’s use Coke as an example again since we’re on a roll. Their brand essence could read along the lines of: “For people who love to socialise with friends, Coke provides a refreshing drink day and night.”

Right, you’ve got your brand essence sorted and all of the key stakeholders in your business are in agreement (that’s really important by the way). This is where the fun really begins – you get to help bring that brand essence to life.

Thinking about your brand?