- Irwin Soh
[Part 1 of 5] 6 Compelling Reasons To Invest In Branding
Articulating the reasons to invest in branding can be difficult or maybe even abstract. You may feel that they are unexplainable and as a business owner, creating a substantial budget for something that is mysterious will not make much sense. Hence, it's understandable to be cautious when dealing with this subject.
In this first of a five part series article, we will first establish the definition of a brand. Next, we will explore the meaning of branding before explaining the six compelling reasons in the last three parts of the series. The extensive scope is to help you truly comprehend the value in the six reasons.
What Does A Brand Actually Mean?
Through the years in the industry, countless conversations have been held amongst peers, lecturers, directors, business owners, branding books and online sources. The many different definitions may have added to the confusion and mystery of it. Isn't it just the business’s promise? Or the products and services of the business? Some believe it’s the name or even just the logo.
The above definitions are not entirely wrong but they do not fully capture the definition of a brand. I believe part of the reason why it is difficult to describe is because it involves our feelings which are intangible.
We remember brands in the way it makes us feel.
When we share about a certain brand's products or services with family and friends, it always involves a six phases customer journey i.e. awareness, interest, consideration, purchase, retention, advocacy. Our five senses upon interacting with the brand touchpoints combine to convey a certain feeling. Understanding this core logic leads us to the definition of a brand which is best described by Marty Neumeier in his following quote.
“A brand is a customer’s gut feeling about a product, service, or company.”
— Marty Neumeier, Author of The Brand Gap, Zag & The Brand FLIP
Marty Neumeier is a renowned American author and speaker who writes about brand, design, innovation, and creativity. This certain feeling comes more from your gut, like an instinct or intuition. If you trace back to the moments when you were exposed to the brand, be it just the logo, name, colours, feedback from other customers, or by using its products and services, you will realise that there were different feelings forming within you subconsciously.
The McDonald's Brand
Let’s take McDonald’s for example. Describing the brand revolves around feelings of joy, sense of convenience and consistency.
If you had experienced a happy meal when you were a kid, receiving a toy in addition to the delicious food will naturally associate McDonald's to a happy place. Having those memories make you want to go back to bring your own kid to McDonald's to experience similar joy and happiness.
Late nights studying. Rushing to meet project deadlines. When time is too tight to travel out to buy food, there is always someone in your group who will suggest McDonald's. It's a 24/7 fast delivery service providing food to you whenever you most need it. Over time, you get the sense of convenience from McDonald's.
In addition, McDonald's food standard and taste are also remarkably consistent. Although its taste may vary in different countries, its food standard is maintained at a constant level. Over the years, they have created a reliable system that conveys this sense of consistency. Now, whenever we dine in any of their restaurants, we assume to experience similar food standard and taste.
These feelings, whether positive, neutral or negative are what define the McDonald's brand.
Now that we have established the notion of what defines a brand, we will delve into the next topic on what is branding.
Stay tuned to next week for our [Part 2 of 5] 6 Compelling Reasons To Invest In Branding!
Click below to read others
[Part 1 of 5] - Introduction + Definition of A Brand
[Part 2 of 5] - What Does It Mean To Do Branding + Attracting Your Ideal Customer
[Part 3 of 5] - Closing Sales Efficiently + Increasing Value Of Products & Services
[Part 4 of 5] - Saving Time & Cost On Marketing Efforts + Boosting Credibility
[Part 5 of 5] - Growing Your Brand Equity + Conclusion + Summary
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