Two weeks ago I introduced Biz&Brands and the idea behind it. I also stated that every business needs to invest in marketing.
But what do we market at all? I believe we market a brand which of course immediately raises the question: “What is a brand?”
What Is A Brand?
The answer could vary depending on who you ask. The brand consultancy Prophet defines a strong brand as one that makes a difference in consumer’s lives. To me this definition is quite convincing. They also established what they call a Brand Relevant Index that lists the top 50 most relevant brands in Germany, the UK and the United States.
They also emphasize that a onetime shot is not enough by far. A relevant brand must deliver constant value to the clients.
What does a Brand consist of?
First of all we need a product, a service or a very specific field of experience. A brand shows what we stand for.
Let’s take two examples:
- You set up a shoe shop
- You are a scientist in a special field
Than we need to know who and where our clients or peers are
- For the shoes there might be various possibilities: men, women, children, a specific sport if you design athletic shoes, even a specific geographic region for whatever reason
- Other scientists in your field, universities, book publishers
Now it is time for corporate identity.
Corporate identity is a very complex subject since it can comprise many aspects. After all we need to know what and who we are.
Some companies like for example McDonalds work with a franchising system and make sure all the restaurants look the same and the staff wears uniforms. Other companies have clear rules about how the receptionist has to greet customers and what the wording of their communication should look like.
An important ingredient to corporate identity is the company’s culture. It can be rather informal and people can show up jeans or more conservative. In the Anglo-Saxon world it is quite normal to address your colleagues by their first-names. This is not necessarily the case in European countries.
Moreover, what are your company’s values? Do you stand for tradition, great service or innovation? These values must be visible in your corporate design on which we will elaborate next week.
This is by the way the reason I missed out last week’s newsletter.