Branding: The Simple Truth

Posted by Derrick Daye on May 12, 2007

1 comments | 3012 reads

The simple truth about branding - A brand is a source of a promise to the consumer. It promises relevant differentiated benefits. Everything an organization does should be focused on enhancing delivery against its brand's promise. Combining a few different definitions, a brand is the name and symbols that identify:

The source of a relationship with the consumer
The source of a promise to the consumer
The unique source of products and services
The single concept that you own inside the mind of the prospect
The sum total of each customer's experience with your organization

Leading organizations have discovered that brands are their most valuable asset (along with their people) for a number of reasons.

Strong brands deliver substantial benefits:

Increased revenues and market share
Decreased price sensitivity
Increased customer loyalty
Additional leverage with vendors and retailers (for manufacturers)
Increased profitability
Increased stock price, shareholder value and sale value
Increased clarity of vision
Increased ability to mobilize an organization's people and focus its activities
Increased ability to expand into new product and service categories
Increased ability to attract and retain high quality employees

Simply put: Build your brand. Win the day.

Derrick Daye

Derrick Daye, is the Managing Partner of The Blake Project, a leading brand consultancy. He helps large and small growth oriented companies design, manage and build brands that drive revenue through differentiated customer experiences. He co-authors the branding blog Branding Strategy Insider, has worked with the White House Press Corps, the National Basketball Association and Johnson & Johnson. Reach him at ddaye@theblakeproject.com or (888) 76-5489.

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Graham Hill

May 16, 2007

Brands And/Or Customers

Derrick

I suspect many others, Don Peppers for example, would disgaree with your statement that "brands are their most valuable asset ". His work on Return on Customer rather suggests that customers and the relationships they have with you are the most valuable asset. You can't both be right!

It strikes me that brands and customers are in fact the opposite sides of the same business value coin. Both require each other. Both are equal. Neglect either at your peril.

Graham Hill

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