Branding is a value proposition: a collection of images, thoughts, feelings, associations and words that show the outside world what your business is and who it serves.
In today’s blog, we’ll investigate what we like to call “the four pillars of branding”.
These four pillars are your key considerations when creating and building your brand; they are an excellent place from which to launch not only your brand, but your whole marketing strategy.
You can’t build a brand by replicating what others are doing. To create a brand, you have to make yourself distinct from the rest of the market. What are you doing that is different?
What is your USP?
Relevance involves the concepts of appropriateness, meaningfulness and the value of your point of difference as detailed above. If what you’re offering isn’t relevant then your point of difference will neither keep nor attract customers. What makes you relevant?
When you build relevant differentiation, customers respond with high esteem for your offering. Brand esteem can stay high even after a brand loses its point of difference; witness many luxury and prestige brands, for example. Where is the prestige in your offering?
Customers need to understand and believe in your point of differentiation. When understanding is high, brand health is high. If customers misunderstand you, they may dislike you, and your sales could decline. What do you need your customers to understand about your product or service?