The Building Blocks of Brand Success
Why did you go into business? What sets you apart from your competitors? What motivates you to deliver goods and/or services to your customers everyday? What is your brand promise? Answer these questions and then ask yourself one more: Does my brand reflect it?
Your brand differentiates you from your competitors, reinforces positioning, creates engagement with your target market, and reflects the good will of your company and it’s identity.
Brand identity weaves its way through all aspects of your company, from your logo and tagline to public relations and marketing, advertising, community involvement, and more.
The same is true for cities, states, and organizations. For example, do you know what you get when you Explore Minnesota? What about visiting Historic Stillwater, MN?
The City of Stillwater has done a nice job of branding themselves as a historic destination, adorned with good restaurants, shopping and river tours.
In order to brand a city, everyone from city officials to business owners and residents have to buy into it, support it and be proud of it. With buy-in and engagement from the stakeholders through the brand process, the community brand promise becomes real, authentic and highly visible.
Now, let’s look at some of the top US business brands. According to a recent article in Business Insider Magazine, these are the 10 Best Brands in America. Do you know why?
1-2: Coca-Cola and Pepsi – tied for 1st Place
6. Johnson and Johnson
10. Estee Lauder
These brands are ranked at the tope for reputation, management and investment potential. They are long-lasting brands because they have passed the test of time. They have grown and evolved with their target market, offering new products and services in a changing environment.
Latin American brands are also taking top spots in the US marketplace. Do you like Corona? Well, a lot of people do, making it the most valuable Latin American brand!
Corona increased their brand value in the US by 29% in the last year and grew to $6.6 billion.
On the other end of the spectrum, we find a list of the Top 10 Least Respected Brands in America, according to Bloomberg Businessweek
1. Delta Airlines
3. H&R Block
5. Big Lots
6. Best Buy
7. JCP – JC Penney
8. Capital One
9. Rite Aid Pharmacy
Why are they the worst? These companies have gone through a lot of change and as a result, they haven’t delivered on their brand promise. Good marketing means nothing, if a company doesn’t follow through in customer satisfaction.
Learn from their mistakes. What is your brand promise and how are you building it within the marketplace?
Published on: October 1, 2013