A brand can become a company’s most valuable business asset. When effectively managed, brands don’t depreciate. Brands can also become a truly unmatched source of differentiation. There are few ways to provide inimitable differentiation today, and a brand is one of them. But it requires careful cultivation, a constant dedication to its health, a long-term vision, and time.
Brands require dedication to overall well-being. Effective brand managers help build a healthy brand, actively take care of the brand and practice preventative care. They don’t wait for sickness or an injury to assess brand health.
Take a moment now using this brand health checklist to think further about the current state of your brand.
The Healthy Brand Is…
√ Consistent – across all touch points, including the website, the sales team, the product brochure, the customer service hotline, and more.
√ Fully integrated – into the entire organization. The brand is a part of everything the organization communicates and does.
√ Memorable – the healthy brand creates powerful connections with consumers to leave a lasting impression.
√ Recognizable – an identity that can be recognized in many contexts, the healthy brand identity is so strong that it can be recognized by anyone, anywhere.
√ Differentiated – the healthy brand stands apart from the competition and rises above the noise because of a truly unique offering.
√ Relevant – people resonate with the brand, its personality, attributes, and values.
√ Meaningful – the concept of the brand resonates with people on a deeper, emotional level.
√ Focused – the brand value proposition, the positioning, segmentation, and target audiences are all aligned with the brand strategy and overall brand objectives.
√ Authentic – the healthy brand is never misleading, lives and breathes its values, and is never dishonest or deceptive.
√ Protected – the logo, tagline, and other brand assets are protected by the company and legal team.
√ A driver of shareholder value – the healthy brand contributes to people’s perception of the company’s overall value.
√ Embraced and supported by all stakeholders – the healthy brand is a total company effort with buy-in from all key stakeholders.
√ Commanding a consistent price – people are willing to pay for the brand over others, and even when it costs more than substitute products or services.
√ Supported by brand loyalists – the healthy brand makes long-term relationships with consumers who will support the brand financially and boost its reputation with positive word of mouth.
√ Nurtured – the healthy brand requires care, nutrition, and the right environment to grow. It doesn’t sprout up overnight.
There’s huge possibility for your brand, even if it isn’t performing in all of these categories at the moment. You don’t need to know all the answers; you just need to know where you want to go. In the next couple weeks, we’ll be writing about all aspects of healthy brands, with strategic insights to inspire your brand to greatness.
WHAT YOU’LL LEARN:
- What branding can do for your bottom line
- How to create personas for better targeting and more powerful brand connections
- How to identify inconsistencies between your brand positioning and how your brand is perceived
- How to keep your brand fresh
- How to create a strong brand and build brand value
- How brands influence the decision-making process
- How to prevent your company from commoditization
- How to create a brand that becomes an invaluable intangible asset