How often do you think about your brand? How important do you feel it is? Let’s take a moment, and think about it together. The “Brand” is the image of the product or company in the marketplace. The more resonant and relevant it is, the greater the brand value and return on all investments that support and expand the brand. Those activities could be advertising, innovation or even global expansion.
What makes up your brand DNA? What is it’s position, personality, promise and essence? What are your key messages? Is your brand unique, ownable, credible, defensible, sustainable and relevant? Are you getting everything you possibly can out of it?
What is your brand strategy? Do you have an endorser brand like Gatorade? A driver brand like Mercedes-Benz? Or maybe an umbrella brand like IBM? Is it consistent across your product line? These are critical questions that you should be asking yourself all the time.
Let’s be clear. Branding does not equal advertising. However, if your brand is not well defined, your advertising is going to be severely limited.
If your brand is scattered and changes for each of your products or services, you will probably battle consumer confusion, channel confusion, excessive cost to service each brand, failure to leverage current equity and the inability to cut through the clutter with a clear compelling message.
What is the perception of your brand in the market today? In the channel? Among consumers?
Think about it. Your brand is one of the most important things about your business. Don’t neglect it.
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