‘Your brand is what other people say about you when your not in the room’
( Jeff Bezos. CEO and founder of Amazon )
You cannot measure the importance and power of branding too highly when it comes to your marketing strategy. Branding is the total of the interaction of your customers’ experiences with a well known product such as IKEA, Coca Cola and MacDonalds.
Branding is powerful because it helps you stand out from your competitors, helps your engagement with future and existing customers and importantly adds value to your marketing strategy.
Branding elevates your image by creating a unique image and a strong message to your customers. This embeds an element of trust and reputation. It perceives value to a product which customers are willing to pay a premium for, for example, Ferrari, which people aspire to. It shows very strong branding by using a unique shade of red along with the emblem of the ‘Prancing Horse’ You can see it coming and you instantly know what make it is.
Subsequently value for money is important from financial services to high street supermarkets. Tesco is a good example , portraying easy access and competitive prices attained through strong consistent branding. It has allowed the company to diversify without changing its branding, offering Financial Services, Banking as well as mobile phones.
This leads us into branding change. Why change? If you are repositioning or redefining your brand. This may be because;
- You may be extracting your business from a negative situation.
- You may have a confusing or a non distinctive brand in your market place.
- You may have outgrown your brand and need to upgrade it .
Consider how many years have you been using the brand and how much will it cost to reposition your brand in a new market. Is it loosing its appeal ?
A fresh name and approach in a well re-planned marketing strategy aiming at a new target audience could kick start your flagging business but could cost a lot out of your budget for instance rebranding business cards and restructuring your marketing plan and social media strategies.
How many celebrities have changed their names to become successful household names ?
- Vincent Damon Furnier to Alice Cooper
- Demetria Gene Guynes to Demi Moore
- Ilynea Lydia Mironoff to Helen Mirren
- Eilleen Regina Edwards to Shania Twain
- Marion Michael Morrison to John Wayne
Just goes to show how you can re-invent yourself and be successful. How would you re-brand your business name or your own name? Let us know, we would really like to see your ideas.
Another major brand reinvented themselves to greater heights and has become a worldwide brand leader. Who?
A P P L E
One of the major successful changes was their logo of which there were many, we probably don’t remember them all which is why we only see what’s in front of us now, not what we were presented with in the past.
There is a story of how the Apple logo came to be. It was attributed to Alan Turning , the father of modern computing, who took a bite out of a poisoned apple that eventually took his life.
Apple has always had the ability to re-invent itself and its products, such as the iPod, its first innovative product, but it had to advance further. Now there iconic range includes: Macs, iPhones, iPads, watches and many more with more to come such as the driverless car. They have not only diversified they have changed their branding and their position in the market by reinvesting into technological developments throughout the years and will continue to do so.
Look out for their latest product launch on the 12th September 2018. Can’t wait.
Brand You Creative Agency.