What Separates a Company With A Strong Brand from One Without?
Seth Godin sets it up best. He says, if Nike were to open a hotel, you'd know what it'd look like, how it'd feel, what experiences you'd have, what the culture would be like, and even what it would sound like. This brand expectation is what people will pay a premium for. On the other hand, if Hyatt made a shoe, you'd have no idea (nor would you care) what that shoe would look like. That’s what separates a company with a strong brand versus one without.
This is a great litmus test to determine if you have a strong brand. It is also a reminder of the value of branding: the premium experience.
When someone asks you to justify the costs or explain the ROI of branding work, versus spending their dollars solely on direct marketing initiatives (where clicks can be counted), the Nike hotel example is your defense. Again, it’s why people pay a premium: because a good brand is more personal to them.
The long game always pays off. As Seth Godin mentions, any brand who's solely focused on direct marketing efforts is just racing to the bottom; it's clickbait. And before you know it, it'll be a button away from a pornsite. Because that's what chasing clicks will get you.
The key components of a strong brand are:
Recognizable, consistent visual brand identity and sonic identity.
A well defined brand purpose, mission and values (something that your audience can align and identify with).
A brand voice. Which includes the language you use on your website, in social media posts, and in conversations with your customers. As well as the tone in your ads and the sounds of your product.
Brand differentiation or your unique selling proposition.
A defined brand experience. When customers interact with your store or product, is the experience? I strongly believe that the brand trickles all the way through customer support, reception, and service. Employee sentiment bleeds through your ads and website.
