Establishing a company as a brand is hard work. It takes years of effort, considerable investment and a lot of smart thinking. Obviously there has to be a good product or service as no amount of investment and no marketing strategy can transform a company into a brand without something excellent to offer. But even when there are some good products or services, some companies never become brands. Fortunately, you can adhere to the best practices and overcome your struggle with branding. Here are some important highlights shared from this infographic.
1) The First Important Word in the Branding Jargon is Impression.
A company that doesn’t impress the first time is unlikely to impress anytime soon. One look at Apple’s products and you cannot prevent being impressed. When you wear a pair of Nike, you feel the difference. When you see the logo of Audi or Lexus, you tend to marvel at the quality. This is the kind of first impression that a company must have to become a brand. You may think that these logos or products are too familiar today because they are brands but if you turn the clock back, the logos and the products were impressive even when they weren’t brands. The Apple logo was not designed when the iPod was being launched. The Nike feel was not spellbinding after the company had become one of the largest global brands. What you have now paves the way for the future. A company has to be and act like a brand in its own right to actually become a brand.
2) Principles Are the Difference Between a Random Company and a Brand.
A random company will be inconsistent, will not have much of value to offer and will lack bankability. A brand will be consistent in its approach, it will not compromise on its values no matter what and it will always be reliable. Whether it is simple customer service or the quality of each product that is mass produced, there has to be consistence and reliability.
3) Authority Is What Makes A Company A Brand.
Why do we marvel at an IBM or a Starbucks, a KFC or a Dior? These companies have managed to become an authority in their respective niches. When IBM makes a standpoint in technology, everyone listens. Many companies have tried to emulate the KFC recipes but most have failed miserably. There is no dearth of cafes or marts but Starbucks and Wal-Mart have their own authority that is unchallenged. To become a brand, a company cannot be just one of the many players. It has to be one of the most significant players, if not the most important one.