4 Elements of a Successful Brand
Their brand is more than just a logo. Their company’s collective personality, legacy, and promise to the customer—the very essence of who they are. To build a successful brand, they must first understand what makes up a successful brand and what elements will help to make their business stand out from the competition. In this article, Jordan Sudberg discusses 4 elements of a successful brand.
1. Motto/Mission Statement
Every brand should have a motto or mission statement that encompasses the essence of its business. This should be easy to understand and memorable to be easily incorporated into all marketing materials and platforms that the company will utilize. It allows the brand to create a sense of community and identity among its customers, employees, and partners. Furthermore, it paints a picture of what future success could look like for the business, how the brand will help promote positive change and what type of legacy the brand would like to leave behind.
Also, this motto or mission statement should be flexible. It should be able to adapt to any industry or circumstances the brand may find itself in. For example, “Save the Planet” could easily be altered from a clothing company to a soft drink company without losing its original meaning.
2. Target Audience/Customer Segmentation
According to Jordan, the target audience for a brand is the consumers who are most likely to buy and use its products and services. The more specific their brand can be regarding this target audience, the more valuable their feedback will be to their company. This information can then better understand how customers are thinking about and responding to their business’ brand.
A specialty niche market may not have enough data to develop an effective market research plan. Still, it serves as a good starting point for understanding how customers utilize their brand’s offerings, what their expectations are for the product or service, and how their company has met or failed to meet their needs.
3. Brand Valuation
Branding a business can have a lot of different benefits, but it will also require a lot of time, effort, and money on the part of the company. The brand is a valuable asset that should be treated as such. Therefore, it makes sense for the company to invest in the long-term health of its brand by providing support for its growth and sustainability. This support can take the form of financial investments, marketing strategies, or operational processes.
The company must keep an eye on the value and price tags associated with the brand as they will affect how successful it is and what they can charge for their products and services. Making sure the branding efforts are on point and that their customer service is of high quality will help increase customer loyalty and brand recognition, which will help generate demand for the company’s products and services.
4. Branding Strategy
A successful brand strategy will incorporate everything from the company’s motto, target audience, and customer segmentation to their branding process and procedures and how they market their products and services.
The right branding strategy will balance the company’s vision and its customer’s needs to create a sustainable relationship. A successful brand strategy will also be flexible enough to adapt to changes within the competitive landscape or within the brand itself. It must be developed with a sense of urgency and passion but executed with patience and precision.
In conclusion, Jordan Sudberg states that a successful brand starts with a solid foundation of research and analysis. It should be able to communicate the brand’s core beliefs and values and how those beliefs and values are demonstrated in the brand’s products or services. They will create a vision for their future that includes specific branding strategies that will help maintain that future long-term.