The Power of Branding: A Discussion on Brand Essence
What are the things people need to know about the Power of Branding?
- The Fundamentals of a Brand
- Interpreting the Brand Essence
- The Importance of a Brand Essence
In the Philippines, a digital marketing agency should be knowledgeable about the power of branding. It is a very useful concept nowadays, that it is used by every big corporation out there. It is something that is not easily learned and difficult to master, however when understood, it will be a huge help for any business, be it a start-up or a corporation.
For those who are interested in harnessing the power of a brand, here is an article dedicated to just one of the many aspects under branding.
The Fundamentals of a Brand
People mistake the concept of what a brand is most of the time. In reality, there is no concrete definition of what a brand is. In most cases, the brand is considered synonymous with the brand name of a product, when in fact they are two different things.
For one, the brand name is literally what it is, a name for the brand. The brand is different. It is composed of intangibles- things that you don’t see- that are attributed to the product or service, and company as a whole. Basically speaking, a brand is how customers think and feel about the brand. It is the collection of feelings and ideas about the experiences with it.
One of the most widely accepted definitions of what a brand is states that “a brand is a product, service, organization, or cause with perceived intangible attributes.”
The most important part of a brand are these intangibles that are attributed to them. Without it, a brand is only a commodity. With no intangibles, no collection of thoughts and feelings, commodities don’t have anything unique about them, they are just products or services that compete in the market through price and convenience.
In today’s market, there is no shortage of commodities, however, it is those that know how to use their brands that make it far.
Interpreting the Brand Essence
Now that you’ve gotten a light explanation on what a brand is, it is time to discuss what the Brand Essence is. Many experts say that the Brand Essence is the one differentiating attribute that a brand has that others don’t. It is what makes your brand unique as perceived by your audience. It is called many names including the brand soul, heart, mantra, promise, personality, persona, meaning, and many more.
There are many angles to start with interpreting the brand essence, however, the easiest way to discuss it is by analyzing the 9 criteria for brand essence. These criteria summarize everything that you must know about your brand to formulate your own brand essence.
- Unique – The essence is how it is different from competitors within the similar category. An important thing to take note of is that people make decisions based on how things are unique as compared to others, not how similar they are. The brand essence gives customers the reason why they should choose a brand over others.
- Intangibles – In most cases, there are many companies that offer the same products or services, however, the audience will have the perception that one company feels like they are better than the other. As mentioned above, how people feel about your company is the core of your brand.
- Single-minded – In some scenarios, being open-minded can be a detriment. For the brand essence, it important that you have a very narrow focus. You should be able to describe your brand essence in two, no more than three words. Any more than that will show that your brand lacks focus. The more focused you are, the more unique your brand will be.
- Experiential – Your brand essence should be able to encapsulate what your audience will feel during any experience with your brand. With that being said, when customers decide to try out or use your product, they should be able to subconsciously think about your essence.
- Meaningful – An essence with no meaning is like a single grain of sand at a desert, Irrelevant. Make sure that your essence is relevant to your audience. Most of the time, brand essences with no connection to anything is the reason behind many failed brands.
- Consistency – Your brand essence should be consistently expressed in everything that your company does. From services and products to the organizational processes, it should always be embodied. When done right, the consistency of experiences can become the foundation for brand loyalty.
- Authentic – the brand essence needs to have credibility. It doesn’t then your audience may be forced to reject it. Don’t hesitate to ask your audience what they believe about your brand. Your consumer’s thoughts are a valuable source of insight for your company.
- Sustainable – Just like consistency, your brand essence will always be the same. It won’t change.
- Scalable – Lastly, your brand essence should be scalable. It should still hold true even when you begin to expand and grow as a company.
Your brand essence should pass all of these 9 criteria for it to be plausible. It might look a bit complex but having a brand essence will definitely improve your company’s focus and reputation by a lot.
The Importance of a Brand Essence
Identifying your brand essence will basically enable you to put into words the foundation of your business. The core of your business, what you want it to be, and what you want people to think of it, will be completely visible to you. The only thing left for you to do is to incorporate it and to propagate your brand essence to all of your audience. When used correctly, it will result in tremendous growth for the company, for your market, and of course, you and your employees.
Even with the help of a digital marketing agency in the Philippines or anywhere else in the world, a brand can’t be built overnight. It is something that takes years, even decades to fully develop. Be sure to take note of what the brand essence can bring to your company and think carefully about what you want it to be to fully utilize its potential.