Over and over again, marketing is challenged by the question “Why should we invest in our brand?” What will we get in return for this?” It’s the age-old question that marketers face.
Here’s a simple answer.
The stronger a brand’s differentiation > the stronger the brand.
The stronger the brand > the higher the demand.
The higher demand > the higher the profit.
It’s really that simple. A less differentiated brand is more likely to be forced to compete on price. But there’s a hidden component to this. Differentiating your brand takes courage. It’s not for the faint of heart.
Defining your brand and developing a brand platform differentiates you from the competition. If your marketing can’t identify who you are and what you stand for, across all tactics, you’ll be spending your time, energy and money on fragmented messaging that won’t show any return – in awareness or investment – in the long term.
Your brand is the total experience including the marketing brand story that it tells to convey that experience. It’s the promise that the brand makes to deliver that experience each and every day—a much bigger but more meaningful concept. And it has to have an emotional trigger to differentiate it from your competition.
It’s more important now than ever, that as marketers we step back from the tsunami sea of shiny marketing objects and commit to developing your brand’s strategy and platform. Perhaps there’s a brand platform already in place. Take a look. Is it working? When was it last updated? If it’s been over five years and running on auto pilot, chances are it needs some attention. The strategy may need adjusting. Or perhaps the strategy is still on target but the messaging or story needs a refresh.
Remember your brand dashboard is your best friend. It’s the center of your universe. This is where you shine amongst the C Suite when you share results and failures. It’s a dance step. Not everything is going to work 100% of the time. It’s in the plan, strategy and monitoring that the opportunities show up.