How to Build a Brand Identity that Creates a High Value Company

By on May 11, 2018

Introduction

In a competitively crowded marketplace, products and services are replaceable, however, a company that stands out with its brand identity may help in the creation of a high value company. In the marketplace, 48% of consumers say that they will not associate with a company they distrust. On the other hand, 37% people stated that they would pay more for a product/service from the company they trust. (Source: Edelman). Customers today want to do business with a company that values ethics and integrity. Customers also trust companies that have a good reputation. Therefore, businesses should concern themselves with their reputations now more than ever.

This article will demystify the process of creating a brand identity, which in turn helps create a high-value company.

Finding Value

The best brand is a favorable view of a sales person’s perspective,  a marketers perspective and the management perspective. Salespeople view their brand realistically while marketing department is extra optimistic about their brand. Management is harsh. In order to show value inherent in them, brands must evaluate their current strengths. We already know that a brand is a sum total of how customers perceive an organization. Branding is shaping that perception such that the required impression about the brand is created.  Brands try to shape their brand value by showing the perceived value that is inherent in their products/services.

Designing Insignia And Experiences

Nirav Dave of ProDesigns believes that a brand needs to be four things in order to succeed: original, timeless, memorable and attractive. He tried to apply the above values in securing clients like Pepsico and JP Morgan. One of Steve Job’s famous quotes says “Design is not just what a brand looks and feels like”, it’s how the brand works. A brand image is the total number of interactions consumers have with one’s brand in the form of websites, social media, websites and other channels. Consumer perception shaped through these channels controls your brand’s performance.  Brands should focus on designing an experience, which a customer will be surprised at.

Responding To The Environment

John Durham, CEO of Catalyst SF, mentions how today’s marketplace is saturated and has few original ideas to speak of. In such a scenario, brands that stand out are those that are variations of cool products, ideas and services. The best variations are created to beat competition. When a brand constructs its brand image, the method of sourcing ideas is important. It is a pertinent question to ask, how much should market space and competitors behavior shape your products and services? Google was not technically the first search engine, however, it stole a march over the first search engine because it created opportunities for advertisers to serve up ads for information seekers.

Reinventing Culture

In 1997, when Steve Jobs returned to Apple and took control as the interim CEO, his first official act was to change the employee perception of the brand. This campaign was designed to reinforce the employees faith in the company when it was trading stocks well below value. Martin Roll, a Singapore based business consultant, believes that it is all about cultivating the right attitude towards the brand. He further said that until the brand changes its self-image, a high-value company will not be created. Uber succeeded at revolutionizing travel because they offered services, which disrupted the market.

Perpetuating The Mindset

Every unit comprising the brand is important, whether it is the CEO or the customer support executive. Richard Branson has done an extremely great job of branding himself as an entrepreneur par excellence and a thinker and industry leader. He has done so by doing things that create an impression among his audience. When it comes to online business, CEOs are driving business success online. Starbucks manages customer impressions through its Twitter account, which displays employee activities and laurels. An internally and externally perpetuated high value mindset results from an enhanced brand image.  Thus, perpetuation of the mindset has a key role in building a brand identity.

Conclusion

To conclude, it has to be said that it is better to focus on building a value-focused brand rather than creating a product focused one. This will get your brand noticed in the marketplace.

About Hermit Chawla

Hermit Chawla is a Marketing Manager at Sprak Design. He would love to share thoughts on office interior design, Lifestyle Design, Branding Firm, Exhibition design etc..
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