Building a strong brand means managing consumers’ expectations, honestly and consistently. However, all too many try to be something they’re not, only to disappoint consumers with outlandish claims they couldn’t possibly live up to.
On May 13, 1931, Neil McElroy (P&G) proposed the modern concept of “branding”… and brand management was born.
Most companies see brand building as a process of addition, where every touch point adds to the overall experience. Yet, branding is not based on the process of addition. It’s based on multiplication.
The human brain organizes much of our experience, knowledge and thinking into stories. As we all know, rivalry makes for a great story; leveraging exclusionary positioning and providing an antagonist can add to an existing identity.
Vision and mission statements often fail to capture the true nature of a company’s core purpose, what makes them different, relevant and authentic. Successful brands understand that their core concept serves as a compass, guiding the organization, its partners and its consumers.
The days of advertising led brands are dead. A shift from monologue to dialogue has occurred. No longer can a company say one thing and do another. People want brands they can trust.