Commentary

Is Your Brand Ready For Market?

• by Tony Quin , Columnist, Today

You probably know that the idea of branding comes from literally putting your mark on your livestock. That basic idea was perfected in Ogilvy’s day and grew to include ideas and beliefs, but was still somewhat superficial.
Since the advent of the digital age, however, brands have come to mean much more. That’s why companies have to make sure their brand is an asset, not a liability, before they go to market. In today’s unforgiving marketplace, companies cannot afford to do battle without the protections of a strong brand.
Components of a strong contemporary brand:

• Brand Promise is the promise you make to consumers. 
• Brand Purpose underlies the promise — and the purpose should not be not making money. 
• Brand Mission defines your product. 
• Brand Valuesguide your organization.
• Value Proposition defines your Brand Promise.
• Brand Positioning also defines your Brand Promise.
• Brand Personality defines your emotional character.
• Visual, Voice & Tone are types of personality expressions.
• Brand Identity integrates all the elements.
• Brand Essence is the rallying cry for your team.
• Brand Pillars are key employee directives. 

While branding used to be predominantly about what companies say, today it’s more about what they actually do. Of course, the way a company behaves has always been important. The difference is that before the internet, if you had a poor experience with a brand, all you could usually do was write them a letter or tell your friends at work. Today, on the other hand, if brands don’t perform, consumers can and will punish them in social media and more.

According to Gallup, which has done many studies on brand value, getting brand alignment right doubles share of wallet.

Alignment means that the promise a brand makes to its target consumers is not only understood and valued by those consumers, but is actually delivered at every touch point. It means that the purpose and values of the brand are clear, meaningful and real, and that there is a consistency to the brand personality and identity across the board.

This can’t be just some marketing veneer anymore. It must be the guiding principle of the brand and the organization behind it. That includes all the people who bring the brand to life for consumers every day.

Still, Gallup tells us that less than half of managers, and only a third of rank-and-file employees, say they know what their company stands for and what makes them different.

This underscores the notion that while some companies have adjusted to the new realities, many still haven’t. What your brand needs to be and how it needs to be structured in order to be relevant and compelling to today’s consumers will be a huge part of your winning formula.

Excerpted from Tony Quin and Kevin Smith’s “The Marketer’s Playbook -- the CMO’s Guide to Modern Marketing,” which argues that brands need a systematic approach to marketing basics — including having a healthy brand.