Have you ever wondered why some brands are instantly recognizable and evoke strong emotions, while others struggle to make an impact? The answer lies in the power of branding. Think of businesses like McDonald's, Dunkin', or Nike, you might instantly recall their logo and iconic tagline. And these companies have invested years in branding to establish their brand identity.
Branding for a company is more crucial than you would realize. Branding may just appear to be made up of external components like logos, colors and catchy slogans, but your brand is the complete identity of your company. Your brand gives you personality.
In today's crowded marketplace, having a strong brand is more important than ever before. It can make the difference between standing out in a sea of sameness or blending into the background.
In this article, we'll explore some of the most common mistakes that businesses make when building a brand and by being aware of these pitfalls, you can avoid them and set your company up for success.
1. Neglecting the Visual Part
Did you know that it only takes 10 seconds to capture the attention of your audience? That’s how important the visual part is. Having a good visual representation of your business is crucial in creating a strong brand identity. Visual elements such as logos, color schemes, typography, and graphics play a vital role in how your business is perceived by your target audience.
One example of a company with a strong branding is Nike. Nike has a distinctive logo - the swoosh - that is simple, memorable, and instantly recognizable. The company's branding is built on a foundation of inspiring and aspirational messaging, such as “Just Do It”, which promotes a message of determination, perseverance, and excellence. Nike's advertising campaigns often feature high-profile athletes, reinforcing the brand's association with success, performance, and achievement.
2. Breaking A Brand Promise
Breaking a business brand promise can be detrimental to a company's success because it erodes trust and credibility with its customers. A brand promise is a commitment made by a company to its customers about what they can expect from its products or services. When customers choose a brand, they do so based on the promise that the brand made to them. If that promise is broken, it can lead to disappointment and frustration.
One example of a well-known company that broke its brand promise is Volkswagen (VW). In 2015, VW admitted to cheating on emissions tests for their diesel-powered cars. The company had marketed these cars as environmentally friendly and fuel-efficient, but in reality, they were emitting much more pollution than allowed by law. This scandal not only broke VW's brand promise but also violated environmental laws and misled customers, leading to a loss of trust and credibility with both customers and regulators.
The fallout from this scandal has been significant, with VW paying billions of dollars in fines, settlements, and recalls. The company's reputation has been damaged, and it has taken years to regain the trust of customers and regulators.
Once a brand's promise is broken, it can be challenging to regain the trust of customers, and it can damage the brand's reputation in the long run. Negative reviews, word of mouth, and social media can spread quickly, leading to a loss of customers and a decline in sales. Additionally, breaking a brand promise can create legal issues, such as false advertising claims, which can be costly to address.
3. Not Providing a Great Brand Experience
It goes without saying that great customer experience is essential to a brand's short and long-term success. 77% of businesses believe that customer experience is a crucial competitive differentiator and 86% of customers would stop using a brand after just two bad experiences. This statistic clearly indicates that not providing a great customer experience can lead to customers not returning, and it can also damage the company's reputation. If customers are not happy with the service or product they receive, they may be less likely to return or recommend the company to others. And according to a study, 72% of customers will tell at least six others about a positive experience. While 13% of unhappy clients will tell at least 15 others about their bad experience.
One company that values public opinion is Amazon. They have a strong focus on customer feedback and use it to continuously improve their products and services. Amazon encourages customers to leave reviews and ratings on their website, which are then used to determine product rankings and recommendations for other customers. They also have a dedicated customer service team that actively listens to customer concerns and works to resolve any issues quickly and efficiently.
Providing excellent customer service is key to creating a great brand experience for customers. It is important to listen to customers because they are the ones who support your products or services. Their feedback provides valuable insights into what is working well and what needs improvement. When you provide quality support, it shows that you care about your customers and their satisfaction with your product or service. In addition, providing great customer service can encourage repeat business and lead to increased word-of-mouth referrals.