To understand what branding is, the first thing we have to understand is what a brand is. The most common definition, which can be found in most sources (both bibliographical and internet), is that established by the American Marketing Association, and holds that a brand is “a name, sign, symbol or design, or a Combination of them, whose purpose is to identify the goods or services of a seller or group of sellers and differentiate them from their competition.” Definition that today has become obsolete, and incomplete because it conceives the brand from a strictly corporate point of view, disregarding the expectations and perceptions it generates in its customers (and all the people that cross it), and forgetting that the brands are Far beyond the merely corporate and commercial, and are developed in many areas, from politics, to art, through NGOs.
Thus, I like to define the term brand as a catalyst for affections, that is, as the sum of each and every one of the sensations, perceptions and experiences that a person has as a result of contact with an organization, its products and services.
This definition denotes that a brand resides above all else, in the minds of people, who access it through one or more of its contact points.
In the perceptions that a specific person has on a particular brand, it will influence both what he has seen, heard or read about it in his own, paid, generated and social media – online and offline – as well as the level of quality of contact with his staff And satisfaction with what was purchased (if any). In this way, we build the customer experience or brand experience for the customer, as we prefer to call it.
Now that we have a basic idea of what a brand is, we can go deeper into branding. Branding is the management discipline that ensures that all the elements that are part of a brand work synergistically. For these synergies to be possible, it is necessary to understand the 6 dimensions that compose it, which we will see throughout the next posts. Today we start with the fundamental dimension: the concept.
A brand is much more than a logo, symbol or design. A brand is a feeling. Good branding taps into the emotion of its potential customer and connects with them on an intimate level. Customers buy a product because they have a good feeling about the brand. A strong brand must convey trust and credibility. If your brand is failing to do so, you will see the negative consequences affecting your bottom line.
59% of customers prefer to buy new products from brands they are familiar with. The trust level the brand has established has led to the consumer’s loyalty in buying again. It is much easier to retain customers than it is to acquire new ones.
40 percent of households have boycotted a brand all together due to it’s failed delivery. Ensure that you are offering a high level of customer service in order to avoid being blacklisted completely.
Brands that inspire a higher level of emotional activity receive three times the word of mouth traffic as one that do not. Word of mouth traffic is the most credible referral you can receive and it’s completely free.
You’ve Got Mail
Consumers are 64 percent more likely to open an e-mail from a brand they trust, as oppose to one they do not. Your brand effectiveness will dictate the ability to ensure e-mail marketing success.
Nearly 40 percent of people recommend a brand they like or follow on a social media channel. Make sure your social media posts are positively affecting your brand strategy to help generate new clients.
Almost half of your brand is attributed to its perceived trustworthiness and it’s authenticity. Make sure a business (and a human being) you are always honest and deliver what you say you will deliver.
What your consumers feel about your brand and your company will lead to sales growths or business failures.