True insight into a topic or issue often comes from questioning the status quo. Challenging a common belief system is essential in order to move ideas and principles forward. Nomenclature often disallows the conversation to progress based on a variety of factors namely clarity. In fact, most ideas and principles around “branding” have fallen victim to this phenomenon. For example, in a recent conversation with a very good friend who shaped the careers of some of the biggest models & their brands, he asserted that the term “branding” has become completely stagnant and overused.
On some level, I completely agree with him as it relates to the “use” of the word based on varying interpretations of the definition. Further, our celebrity obsessed culture has produced a plethora of brands in the last few years. Nonetheless, it is essential that you establish a brand to: 1) articulate your promise to the consumer and 2) differentiate yourself from competitors.
However, everyone seems to be on their own page in what appears to be the “Wild, Wild West”. Think of it this way, if I asked you to meet me for dinner at 8pm sharp — one of the few assurances of your timeliness would be to ensure that our watches were synchronized. Therefore, it is imperative that we have some synergistic ideals around branding in an effort to communicate more effectively. I humbly submit the definition below as a tool to assist in the development of your brand.
B — Build: The most essential part of building a brand is to have clarity about your value proposition. Without it, you will not survive. Think of the building stage as a 1,000 piece puzzle that has to be assembled with no instructions. From Harvard to Hollywood there is no shortage of overly ambitious individuals that desire to be game-changers. Soledad O’Brien encapsulated this energy in her brilliant segment where she highlights a number of entrepreneurs and their struggle to redefine a respective industry.
R — Re-imagine: Brands are being forced to behave differently and identify new ways to engage their customers. Long gone is the one-way communication that has often existed in the marketplace. It has been replaced by two-way communication and storytelling with a strong emphasis on making an emotional connection to the consumer. Possessing a high level of emotional intelligence is often what helps a brand ascend to greatness. Why? Because it is directly linked to one’s happiness.
A — Analyze: This would be music to my Marketing Strategy professor’s ears in graduate school as he implored that “Marketing Without Metrics” is a thing of the past. Brad VanAuken wrote a wonderful piece replete with a blueprint for what should be measured. This will be a non-negotiable moving forward based on the plethora of competition. Also, it is a difficult step especially when you factor in how cloudy the relationship is between campaigns and outcomes.
N — Navigate: As we know, one of the most important tasks on any ship is navigation. Without navigation, you will inevitably be sailing to a barren island called “nowhere”. Successful brand navigation requires sound strategy and implementation. However, it also requires a “Cirque du Soleil” type of balance — fully understanding the current state of the brand and what is required for growth. The identification of brand extensions is an essential strategy utilized to help navigate the ebbs and flows. Vivaldi partners outlines 6 questions that must be answered when identifying a brand extension.
D — Dominate: Specificity around category will be essential in the new age of brands. It is simply impossible to be all things to all people. Paul Leinwand and Cesare Mainardi said it best in a paper titled the Coherence Premium where they simply state, “Sustainable, superior returns accrue to companies that focus on what they do best.” Focus on how you can speak best to your end user and continue to expand upon that. By dominating a category, you own the space and others simply follow.
Please note these words are verbs to indicate they require “action”. Thorough examination and implementation of this blueprint will help to mitigate potential blunders as you seek to define what’s next!
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