A brand is like a personality. It includes a name, an appearance, a style, a character and an inner conviction. Especially the inner conviction is important for success: “Think different” was Apple’s conviction – not only to sell computers, but to revolutionize the world with design thinking.
Successful brands have another important value: “Purpose”. “Purpose driven marketing” describes the efforts of a company to achieve something socially meaningful. Customers identify more easily with companies that have a strong attitude. The concept of “Purpose driven Marketing” dates back to American Express in 1983. The company’s “Purpose” was to participate in the restoration of the Statue of Liberty. Whenever someone used their customer card, American Express donated one cent for the restoration. As a result, the number of new cardholders grew by 45% and card usage by 28%. It is often difficult to differentiate between products and services because they become quickly interchangeable. Therefore, it can help to find the “why” or the one characterizing factor of a company that distinguishes it from its competitors.
Values create trust, identification and enthusiasm. In the digital age, brands are not artificial constructs, but lived values. This begins in the company itself.
With a smart team and sophisticated tools, bodin.consulting supports the development of brands as well as their further development and consistent management – from strategy to CI/CD to the holistic brand experience.
Quote from an article in Credit Suisse Group’s Bulletin “Markenführung im digitalen Zeitalter”
People’s interest in brands is limited. The desire to communicate with brands instead of with friends is limited. The need to receive messages from companies is also limited. Fresh ideas are more in demand than ever so that brand messages – no matter in which medium – are not annoyed and digitally filtered out. By the way, Big Data can help. But watch out: Big Data does not replace the Big Idea.