“People don’t buy products, they buy brands,” George Brandt once said.
A brand is much more than just a logo, a slogan, a visual identity, the advertising campaign, or the product or service. A brand needs to reflect the values of the people who are running the business. This is the real value of the brand. And this is the only way you have for people to connect to your business, to stay loyal to you. They need to identify those same values and recognize they share the same ones.
Branding is not easy and requires some time. You need to be able to transmit your core values to your customers and potential customers. There are 4 values that every successful brand share:
Having moral principles and ethics is very important to most people. You need to show them that you have them. It won’t be enough to simply say “We have ethics” for example. You need to show them through your behavior, through the way you handle people. And this behavior needs to be consistent.
It’s far easier to lose an entire’s life reputation in one day than gain it during your entire life. Yes, it may seem a bit exaggerated but I’m sure you get the point. It’s hard to gain a good reputation but it’s achievable.
There has to be a base for establishing trust. And it all starts in your integrity and in your reputation. If people see you have good principles and that you have a good reputation, they will more willing to trust the brand.
Lastly, in order to have a successful branding, you need to establish relationships. Relationships with your clients, with your prospects, with your suppliers. We are all human beings, and human beings need to interact with each other. You just can’t be on the top of the mountain waiting for someone to reach you. You both have to come to the middle of the mountain.
If you notice, these 4 core values are linked with each other: you can’t have a relationship with someone if you don’t trust the person; you won’t trust the person if he has a bad reputation, and a good reputation is impossible to achieve if you have no integrity.
As you can see, brand management is what allows people to see your services or products different from the others. It’s the perspective that you give them about the people behind the business that motivates them to buy from you. But besides doing this, brand management also include managing the prices, customer’s experience, and the emotional connections between the customer and the product or service.
Usually, big companies have a great brand management that allows them to:
Sell their products or services at higher prices than their competitors;
Easily attract new customers;
Protect the business during difficult economic times.