Numerous answers and ideas float around when describing a great brand. The simple reality of what determines not just a good but great brand is that, there are several criteria to consider. Before delving into the details of what characterizes great branding, knowing what a brand means is vital.
The definition of a brand is lost in the ambiguity of terms commonly used to describe it. To put it in layman’s term, brand refers simply to the identifying features that sets a business apart from others. The idea dates back to ancient times during the period where livestock was branded with fire to differentiate categories and ownership. Over the years, the dynamic nature of the business world has since added new parameters to define a brand. It comes as no surprise since we live in times when the competition is high, and since many businesses are offering the same services, the need to distinguish and appear unique is of utmost importance. In this way, the aim is to deliver services in which the perception of customers will clearly indicate a sense of product differentiation.
Well, to be candid, almost every business can create a brand in many regards. The question is” is the brand great?” In the end, the success and greatness of brands are what matters. Going forward, we’ll see the long list of what makes a great brand and one often neglected factor that contributes positively.
Criteria of a great brand
The criteria for labeling a brand as great differs in various forms of assessment used. But overall, through research over the years, it has become crystal clear that the following are crucial before regarding a brand as great.
- A brand must have a focus. The focus should not be distorted in any way but must be clearly evident.
- Knowing their target audience is particularly important. A great brand knows its target audience because this helps to devise strategies aimed at improving services and much more.
- Knowing their competition is equally important. A monopoly is rare and almost non- existent in today’s market. Competition exists everywhere and as such, knowing their competition helps a brand to improve and continue to remain unique regardless of overwhelming competitors.
- Having a laid out mission also makes a brand great.
- Consistency is the bone of a brand. It transcends maintaining a renowned quality of service to encompass even little details like logo and brand voice.
- Knowing their value and telling the story. Connected to knowing their competitions, the need to know their major value can be a selling point especially if the right strategies are used to tell the brand’s story.
- Demonstrating passion and instilling confidence. Passionate brands give their best because they love what they do– giving their all to dispense high-quality services or goods. No doubt when consumers spot the consistency and efforts that go into every bit of service enjoyed, confidence in the brands solidifies. Additionally, trustworthiness also starts to grow; helping the brands to retain customers and attracts new ones.
Is Success Guaranteed?
Have you ever wondered why one brand gets more recognized than the other? Apple over some mobile brands? A particular movie production company over another? Or musician over another? All the criteria mentioned and explained above are truly what some brands have done and still doing. Many more still looking to grow and become great brands have no choice but to exhibit some if not all the criteria.
However, becoming a great brand is not solely dependent on just meeting a set of factors or performing some set of rules. For it was the case, then almost all brands will be great but that isn’t the case.
As much as we avoid it, there is no doubt that luck plays a major role in the success of brands. But of course, as expected, managers and marketing experts will either downplay or totally strike out luck as a force jointly responsible for their success. They think that such notions lessen their importance and also the work and effort they put in. As much as they’ll want to believe all outcomes in life can be controlled, it’s simply not true. You may give the best and still not get people interested.
As an example, considering various aspects of the entertainment industry, there are quite a number of bands or artists with exceptional talents, popular record labels, managed by seasoned and successful producers, and despite all the conditions still didn’t become great. And yet there some with just half of the conditions and they became great. The same applies to business too. Big firms with resources trying to push a new idea and create a great brand have failed. Proof that money is not even a guarantee of successfully creating a great brand.
The Verdict On The Importance Of Great Branding
While becoming great as a brand is not basically about planning, following so-called “proven ways to achieve greatness”, it is also not just about being Lucky. In the end, the admonition is to work hard but not get obsessed with the idea of expecting success simply because you crossed all “T” and dotted the “I”. Remember that luck as a role. A brand can be luckier than others and as such enjoy more success — it’s not because the brand is doing something better and they are not( in most cases).
So as you try to grow your brand to greatness, don’t get depressed if peradventure things don’t go as expected despite the effort you put.