What does the word ‘brand’ actually mean and can it go out-of-date?
The word was derived from the Old Norse brandr meaning "to burn" referring to the practice of primary producers burning their mark onto their cattle with a hot iron stamp, as a way of ownership.
Today we take the meaning to be ‘the identity of a specific product or business’. In layman’s terms this means a brand is the personality or feeling that your business projects to your customers.
However it is important to know that a brand is not just a logo. A brand is much more than simply the symbol, monogram, emblem or icon you use to represent your business. A brand is everything that is tangible and intangible about your business.
So now that you know your brand is something much bigger than your logo emblem, we challenge you to take our branding audit…..
1. Does your brand tell people who you are?
2. Does your brand portray what you do?
3. Does your brand include a UPD (Unique Point of Differentiation)?
4. Do the colours correctly reflect the mood/tone of your business?
5. Does the design style reflect your position in the market place?
6. Is your brand consistent across all promotional platforms?
7. Have you exploited all your branding opportunities?
Figuring out who you are, what you do well, and your unique selling point is the first part of the branding process. Designing a logo that reflects all of this is the next step.
Logos are an instant way to communicate to your time poor customers through strategic use of size, colour, layout and type. This is where you differentiate yourself from your competitors by highlighting the combination of attributes that makes you, you. For example are you heritage, quality and prestige or are you modern, quick and value for money? You can say all this and more with effective branding design.
How much value can your brand provide your business?
This is called brand equity and is considered an asset because the more perceived value your brand has, the greater your ability to build your business or sell products. There is an actual methodology that analyst perform to determine the brand value. I have listed below the brand dollar value alone for the world’s top global brands – you may be surprised by the numbers:
1. Coca-Cola $67 billon
2. Microsoft $56.9 billon
3. IBM $56.2 billon
4. GE $48.9 billon
5. Intel $32.3 billon
6. Nokia $30.1 billon
7. Toyota $27.9 billion
8. Disney $27.8 billon
9. McDonald’s $27.5 billon
10. Mercedes-Benz $21.9 billion
(Source: Business Week, 2006 – Methodology: Interbrand)
Can my brand go out-of-date?
Yes, just like that perm/mullet you may have worn in the 80’s, a brand can date like fashion. This is when a ‘brand refresh’ may be required - which can be subtle or a major update. Brand refreshing is important especially if the business has had a previous negative reputation, has had an ownership change, or is heading in a new exciting direction. A refreshed brand can tell the public very quickly things have changed for the better.
The above is an example of a recent brand refresh that we have just completed for Maclean Partners. The top logo was their original logo which they had for many years. We simply refreshed the logo but kept the consistent element of the prominent M and the colour blue, so that it was what we call a ‘Just Noticeable Difference’. The new logo is fresh, contemporary and has different marketing applications.
How do I know if my brand is right?
You will need to talk to a branding expert about what your business does and how this corresponds with your current branding.
At Positive PR we love all things branding, so we are offering a free 15 minute branding review, until Christmas Eve. So give us a call and let’s talk about your business brand!
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