✨ HOW IMPORTANT IS BRANDING? See below 👇🏽 ✨
Your business is your baby. You nurture it, invest both time and money in it, and so it grows. But how important do you feel a strong brand for your business is?
Ultimately it is more than just a nice logo and pretty colours. Strong branding sticks with you. For example, which soft drink do you associate with the colours red and white? When you hear the words “Just do it,” which company immediately pops into your head? Do you see? Your brand is your identity.
It can also help set you apart from your competition: look at what your competitors are doing and create something that is totally different, unique. You stand out, showing consumers that you’re invested and so draw people to your product/service.
One of my favourite articles is by The Design Council, which discusses the four cornerstones of successful branding. They are:
✨ The Big Idea – what lies at the heart of your company?
✨ Values – What do you believe in?
✨ Vision – where are you going?
✨ Personality – how do you want to come across?
These four principles still apply even if you have a well-established business that is turning a profit, although maybe it's not as profitable as it used to be. Asking how they still apply? Let me tell you about Burberry.
BURBERRY: A PATH TO REDISCOVERY
Burberry is a well-known, well-established brand, originally a luxury manufacturer of raincoats. Despite this, for a while, it lost its core values, becoming incredibly commonplace, visible on everything from Dog collars to t-shirts, and began to under perform. Brand consistency was lost and customers in various parts of the world were getting a different experience. In 2006, new CEO, Angela Ahrendts, went on a mission to rediscover Burberry's brand values and in doing so brought luxury back. She appointed a single creative director to oversee the Burberry Brand worldwide and brought Burberry's product line back to the luxury, high end of the market. Coupled with a creative use of new tech, Burberry's revenue rose from $1,190 million in 2006 to $3000 million in 2012 (UK equiv: £903 million / £2.2 billion).
From the above example, you can see how important having a clear brand path & image is. In Burberry's case it brought an already well-established, profitable business back to life and re-established it's presence in the market. While your business may not be as large as Burberry, the principle applies: keep your eyes fixed on brand values, and if you stray, bring it back.
Keeping the four cornerstones of branding firmly in mind, and figuring out the answers to each of the questions that come with that, you have the building blocks to creating a powerful and successful brand or rediscovering the fantastic brand you had built in the beginning.
So, now how important do you feel a strong brand is for your business?
Middleton PA Services offer a range of Branding Packages to help you build a successful business, Want to know more? Click here.