How and Why You Should Build Brand Value
You may have the best product in the market, but industries are saturated with similar products that perform similar activities. The chance you have to highlight your brand in the midst of every other one is by adding value to it. Of course, your logo, website, and social media should be up-to-date, but these are factors that can easily be changed with time. What should be sticky about your brand is what it stands for, and your target market should care about it. If it is not clear what exactly that is – since this is not an easy task – here are some tips from us:
- Take a look inside.
Which colors did you use for your brand? What typography did you choose to represent it? How is the personality of your employees? What problems do you seek to solve with every customer/client?
These are some of the questions you might want to answer to understand what your brand represents. The color blue, for example, tends to be associated with technology, security, and transparency. Red, on the other hand, tends to be associated with passion, excitement, or anger. With colors and style, your brand might already be telling a story that you do not know about.
- Be unique.
There are way too many outdoor clothing brands that have set their mission and advertising capital to make people “go outdoors,” “get adventurous,” and “go places.” So, what could differentiate you among them? Your story. Go back to the beginning of your brand, what motivated you to found it? What problems were you trying to solve? These are what will make your brand unique. Telling that to consumers is a chance to start a conversation and allow people to connect with.
- Find meaning, don’t create it.
Empty or vague statements won’t help you and might do the opposite. Your value proposition needs to be real, clearly defined, and, most importantly, actionable. Advertising has, for years and years, tried to create meaning, fortunately – or, unfortunately, – consumers are no longer tricked by it. Whatever your company chooses to fight for, it must be something that your target market cares about.
Take a look at the marketplace; companies that are striving do offer a unique perspective on what they are selling. An example of this is Nike. Even though their products are at the top of the active apparel market, that’s not the only thing they are selling. Their mission statement is, “To bring inspiration and innovation to every athlete* in the world. *If you have a body, you are an athlete.” And this is how they act on their mission:
- Consistent
If you look back in 1982, when Nike released its first television commercial, their message is the same as today in 2020. They were and still are talking about innovation and how people should test their limits. This consistency in their message not only guides their advertising strategy but also what products they are putting in the market and who is the consumer that is going to identify with the brand. They have a clear and consistent vision of who their customers are because they have clearly defined who they are as a brand.
- Actionable
The brand also puts effort into making people come together. 5, 10, or 21k, Nike organizes runs and workout classes all over the world. This builds a community around the brand, bringing people together, and reinforcing their brand value.
- Achievable
The brand sponsors many of the top athletes in the world. And they also sell you the idea that you will be wearing the same clothes as those athletes – making you feel like one. They want to inspire. It’s in their core value and mission.
Find your niche, know your target market, explore your brand. Quality is not the only thing that sells a product. Now more than ever, consumers demand that brands stand up for causes that they relate with. If your brand can do that, consumers will become your brand’s advocates, and you will be left with very little work.
