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