“If people believe they share values with a company, they will stay loyal to the brand” — Howard Schultz, Starbucks
In Principium Studio, we are convinced that brand building is the biggest lever most companies have to improve profits and protect themselves against competitors. Brand is the perception someone holds in their head about you, or a product, service, organization, cause, or idea. It can be negative, positive, or somewhere in between.
Seth Godin gave a great definition of branding: “A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.”
E-commerce entrepreneurs are becoming aware of this and so they are building brands, instead of selling just physical products. Why?, because if you build a trusted brand, you can charge more for your products even if they are the same as the competitors!
In 1997 Steve Jobs was unhappy about how much Apple was spending on marketing and about the message the company was communicating. He realized that in an increasingly noisy world the chances for any company to be remembered were diminishing and that Apple needed to get really clear about what it was they wanted people to remember.
So he asked himself these three questions.
Who is Apple?
What do we stand for?
Where do we fit in this world?
And came up with this answer:
“What we’re about isn’t making boxes for people to get their jobs done, although we do that well. Apple’s about something more than that. Apple’s core value is that we believe that people with passion can change the world for the better.”
From this starting point Apple’s ‘Think Different” advertising campaign was born and it’s said that this also marked the company’s re-emergence.
How do you build a trusted brand? Steve Jobs explained: “Marketing is about values.”
You can also find more information about branding in our earlier post, “The Missing Link in your Marketing.“
- On August 3, 2017
- 1 Comments