As an expert in brand strategy, I have seen firsthand the impact that a well-developed brand can have on a company's success. In today's fast-paced world, consumers form their first impression of a brand's logo in just 10 seconds. However, it takes an average of 5 to 7 impressions for consumers to remember that logo. This is why it is crucial for businesses to have a strong and cohesive brand strategy in place. One example of a successful brand strategy is Colgate.
In 1982, the oral care company introduced a range of frozen ready meals called Colgate Kitchen Entreres. While this may seem like an odd move for a toothpaste brand, it was actually a strategic decision to expand their brand and reach new markets. This move not only increased their revenue but also solidified their brand in the minds of consumers. Another company that has successfully implemented a strong brand strategy is Beautycounter. This skincare company was founded by Gregg Renfrew with a mission to provide safer products for everyone.
Renfrew's passion for eradicating harmful ingredients from daily use led her to not only create safer beauty and hygiene products but also work towards updating the outdated legislation governing the industry. The brand resonance model outlines the steps to creating an attractive and active loyalty relationship with customers. It starts by establishing a strong brand identity and then building upon it in a sequence of steps. The ultimate goal is to get customers to respond positively to the brand. On the other hand, when a brand strategy is messy and incoherent, consumers will notice right away. This is why it is crucial for businesses to carefully consider their brand positioning and how it will affect consumer perceptions and behaviors.
Just like building a house, if you have a weak foundation, everything else will crumble. The brand evaluation phase is where businesses ensure that consumers have a positive opinion about their brand. This includes factors such as brand quality, credibility, consideration, and superiority. By implementing effective strategies, businesses can shape consumer opinions and create a favorable image of their brand. One example of a company that successfully utilized brand evaluation is Frito-Lay. The chip company, which already had a good reputation, decided to expand beyond its target market and add more flavor to its brand.
This move not only attracted new customers but also strengthened their brand image. Once a business has established its brand identity and evaluated its brand image, it is time to effectively share their story with the world. This is where the brand strategy comes into play. By utilizing various marketing tactics and channels, businesses can effectively communicate their brand message and values to their target audience. It is important for businesses to remember that their brand strategy should align with their company's values and identity. Trying to create a brand that does not accurately represent the company will only lead to confusion and disappointment in the long run.
In fact, there have been cases where companies have failed miserably in their attempts to develop a new brand, such as the infamous Colgate Kitchen Entreres failure which is now on display at the Museum of Failure. To ensure continuous development and success of a brand, it is crucial for businesses to show that they care about their customers. This means constantly evaluating and improving upon the brand strategy to meet the ever-changing needs and preferences of consumers. By doing so, businesses can maintain a loyal following and stand out in a competitive market. In conclusion, building a strong brand strategy is essential for any business looking to succeed in today's market. By following these 4 essential steps - establishing a strong brand identity, evaluating and shaping consumer opinions, and effectively communicating the brand message - businesses can create a powerful and memorable brand that will attract and retain customers for years to come.
