Why Brand Matters
Whether you realize it or not, every business has a brand. How
you develop it is the difference between creating your point of
distinction or blending in with the crowd; projecting a positive
image or eliciting a negative one; growing your business or
merely existing; successfully reaching your target audience or
missing the mark altogether.
Brand does matter. Those who build their brand and manage it
successfully can profit mightily. Here are six principles for
creating and building brand as well as real-world examples of
why it matters.
Strong brands trigger hot buttons in the consumer.
We buy for emotional reasons and then rationalize those
purchases. Know what triggers your target audience. For Volvo
buyers, it's safety. In fact, Volvo and safety have become
synonymous. Volvo has taken this emotional connection and
strategically built its brand around safety. The company's Web
site says, "Explore the beauty of safety with 2006 Volvos". The
site even has a "Volvo Saved My Life Club" section with stories
of real people who were protected by their Volvos in car
accidents. These stories are emotional, but also underscore how
the Volvo brand is associated with safety. As a result, the
company has developed a very loyal customer base.
Brand isn't just a smart logo and tagline.
These are merely applications of the true brand--a concept that
exists in the mind of your consumer. Your brand is an experience
for the customer. Nobody delivers this idea better than
MasterCard