In today’s fast-paced marketplace, brand competition has become a professional sport. Companies continually fine-tune their engines to race across the proverbial finish line. And while the brand is the vehicle, marketing is a primary driver that determines if you’re a winner, mediocre or dead last. So how do you keep your most valuable asset revving, yet avoid severely damaging it? Let’s start by defining brand and then consider how to nurture and protect it.
As we know, brand is not just a product or service: it’s your collective story, your reputation, your promise to your customer. Jonah Sachs, brand champion and author of Winning the Story Wars, stated that: “Brand is a story unfolding across all customer touchpoints.” That is certainly true. Your brand is dynamic—continually growing or shrinking, inspiring or disappointing, influencing or disillusioning. It’s an ongoing tale, with a strong or weak storyline and always needs the right audience.
Gabby Young, director of marketing for Mighty Auto Parts franchise system and an Inkbench client, recently described brand in an interview: “Brand is the taste that’s left in the mouth of the person who was first introduced to you…and brand is what keeps you coming back.” So, brand has an emotional component, too. It lingers, and it can remain sweet or sour in the mouth of the person you meet. Brand is also the determining factor that keeps the customer coming back, makes them indifferent or repels them.
Also, Paul Rand, American art director and graphic designer, best known for his corporate logo designs for IBM, UPS, Morningstar and ABC stated: “Design is the silent ambassador of your brand.” Which reinforces that marketing (including creative and design) is a critical component, the driver of your brand vehicle, that positively or negatively impacts your brand.
These ambassadors emphasize that your brand is an ongoing, emotion-based story. The goal then is to tell your story to the right audience, keep it engaging and be sure it’s well-crafted and consistent.
Brands that are well-nurtured thrive and their brand worth is proof. Consider this: the Starbucks brand is valued at $11.5 billion, Coca-Cola at $84 billion and Apple, one of the world’s leading brands, is estimated at $323 billion. And, like we mentioned in a previous blog, the Santa brand is worth a staggering $1.6 trillion! So, even though a brand is not tangible, it can be very powerful and wealthy.
Now, a good question to ask is, are you maximizing your brand’s equity?
There are three important hacks for nurturing and protecting your brand:
Inkbench is a fully integrated Brand Management Platform that was built and patented with the franchise system and remote teams in mind. Our founder, Steve Goodman, understood the marketing gap between the home office and franchisees or field-based teams when it comes to managing and customizing assets. So, let’s take a closer look at the specific pain points—and our solution:
Empower your home office to store the brand assets, and let everyone customize their own social posts, emails headers, blog graphics, flyers, menus and more.
Here are just a few of the additional features of our platform:
To help determine the health of your brand, take the Brand IQ to calculate your score. Then, you can choose the best course of action to nurture and protect your most valuable asset, your brand, and avoid damaging it. Then, be sure to keep your brand (story) compelling, directed at the right audience and always consistent. That should propel you across the finish line as a winner.
Stories, tips, and ideas from Inkbench and its customers.
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