Starting about 10 years ago, a lot of folks started claiming branding is dead. As a brand strategy agency, we’d agree. The old way of thinking about branding as something you do after the fact, a way to dress up product, is very, very dead. And what a relief that is. After all, who today wouldn’t see through the lipstick for the pig?
But is that really what “brand” is all about? Think back to when brands were created. What was the purpose? To realize a higher return for the same investment; to be valued for much more than the revenue you generate; to find ways to open new markets - both product and audience - without the investment of launching anew.
That’s right, brands have only three reasons to exist, and they are at the top (or should be) of every single CEO’s list:
-Bigger volume, meaning more customers for less money per customer
-Bigger margins (people think you’re better, and are willing to pay for it)
-Less churn (by keeping customers loyal, reducing expenses over time)
-Even more volume, by offering more and different products, services or experiences to the same or even new markets
Real brand strategy is about purpose, consumer trust, and customer engagement all the way through from product ideation to outbound marketing to customer service delivery. It’s about doing as much as it is about saying. It’s the wave of the next generation of marketers, and it’s what good branding has always stood for.
Do you do them not just better than your competition, but in a meaningfully different way that resonates with your audiences? Has everyone in your organization internalized your purpose such that they feel a sense of stewardship and bring that to bear on everything they do? If you answered yes, you've got branding. And, that kind of branding is good business.
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