Growing Your Brand from Bud to Bloom: What You Need to Know
By Anne Boyle | November 9, 2016
A brand’s essential function is to help people differentiate between products and services with similar benefits. A well-cultivated brand has the power to do much more.
Over time, a brand can become symbolic of a set of values and a value proposition that forms the brand’s promise. If the brand promise resonates with customers’ values, wants and needs, the brand gains a distinct advantage in the purchase decision process when variations in cost of functionality are negligible (and sometimes when they’re not). What business wouldn’t want that?
A brand can also act as shorthand, evoking ideas and feelings that drive positive associations, influence purchasing decisions and encourage conversation around – and support for – a company’s offerings and initiatives. Another obvious benefit.
For Purpose-driven companies, a strong brand can be especially powerful in forming customer relationships that go beyond the purchase to engage customers as partners in Purpose.
You Reap What You Sow
We all know the benefits of good branding. But brands don’t form overnight. Building and growing a brand is far from simple.
Your brand will form through a confluence of influences. And you control only some of the elements that join to form how individuals understand your brand.
- HOW YOU POSITION AND EXPRESS YOUR BRAND
Definitely in your control
press releases, tweets, blog posts, print ads, commercials, values statements, personality, packaging, etc.
- WHAT OTHER PEOPLE THINK, FEEL AND SAY ABOUT YOUR BRAND
Not in your control, but within your power to influence
online reviews, complaints and compliments on social media, press coverage, other media representations, adoption by different subcultures, etc.
- EACH INDIVIDUAL’S PERSONAL EXPERIENCE OF YOUR BRAND
Sort of in your control, definitely within your power to shape
experiences in the store or on your website, on the phone with customer support, emailing customer service, experience with your product or service, etc.
As each person encounters some mixture of these brand-bits, your brand will form and evolve (or devolve) in his or her mind. You don’t have full control of this development and in a lot of ways that’s a good thing (more on that later). But it’s important to use what control and influence you have to harness your brand’s power to: a) build profitable and impactful relationships with your customers and b) advance your company’s Purpose in the world.
Don’t Let the Grass Grow Under Your Brand
Brands are dynamic. Throughout its life, your brand may come to encompass more products or services, appeal to more varied (or more specific) customers and take on meaning beyond what you ever imagined. It’s how you engage with this dynamism that counts.
You can help shape what your brand means to people and how they experience your brand. Doing so is essential for attracting and retaining customers and engaging them in Purposeful relationships.
Unfortunately, many companies take the set-it-and-forget-it approach to branding. They think that because they have a logo and tagline, they’re good to go. But a brand is so much more. And your brand is a living, growing thing that needs different nutrients at different stages of its life.
Need help growing your Purposeful brand? Our branding packages take the guesswork out of developing – and activating – your brand!
When tended well, what you reap from your brand’s growth at each stage will evolve with – and grow – your business.
Investing in a strong and well-focused brand foundation helps a startup:
- Establish and articulate a brand promise
- Effectively create and leverage internal brand elements like vision and Purpose to achieve brand alignment from the start
- Build trust in its competence, professionalism and stability
- Increase visibility and awareness
- Start to build a reputation for reliability and consistency
- Attract interest from and form affinity with like-minded individuals and companies
- Differentiate itself from similar businesses or products
- Define a distinctive, coherent and consistent voice to unite marketing and customer experience communications
- Plant the seeds of brand recognition
As a brand grows, the nurturing it requires changes. When a company is developing or in transition, careful brand management will help it to:
- Remain relevant to target markets through changes in public opinion, culture and other realms
- Communicate a consistent perspective in response to new events and challenges
- Naturally integrate new product and service offerings into the brand family, leveraging existing brand equity
- Pursue Purpose-driven social and environmental initiatives
- Follow through on brand promises to build and maintain trust
- Increase engagement with and win loyalty from customers and other stakeholders
- Command greater share of wallet from engaged customers
A well-tended brand will help a mature company:
- Attract, inspire and empower brand advocates
- Minimize duplicated efforts across an increasingly complex organizational structure
- Preserve brand recognition as sub-brands sprout and grow
- Position itself as an appealing partner for other organizations and brands
- Provide proof of authentic Purpose in times of scrutiny or public doubt
- Preserve meaningful relationships with customers through growth and change
No matter what stage you’re business is in, your brand will always need tending. While there’s no universal fertilizer for building, cultivating and growing your brand, there are similarities and patterns in what brands need at different stages of life. That’s why we’ve created branding packages to address those needs and help you be sure that the growth of your brand keeps pace with the growth of your company.
RoundPeg’s branding packages take the guesswork out of forming your brand basics. And our consulting services help you cultivate and tend your brand. Whether you’re looking to develop a visual foundation, strengthen a Purposeful brand platform, create a holistic brand strategy or activate your brand’s Purpose, RoundPeg can help.
To learn more, check out our Brand Packages or schedule a FREE consultation on Purposeful brand-building.
This post has so much good info!
Thanks, Eva! I’m glad you enjoyed it. I hope it’ll be useful.