There are so many moving parts to ensuring a business succeeds and a large component of that is developing a brand that can stand strong and live long into the future. It's a critical component for every business, it’s more than a simple logo or a name, your brand encapsulates everything you stand for and how you want to be perceived by anyone that comes into contact with your organisation or product. It is your point of difference that sets you apart from your competition. At the heart of it all, branding is the promise that you make about who you are, what you believe in, and what unique value you provide.
In todays saturated market, branding ensures that you are easily recognisable and helps to create an emotional connection with your consumers. Consumers remember brands they love, they begin to trust and respect these brands and this encourages them to remain loyal and also become advocates for your brand. Coca-Cola is a great example, when the physical aspects of the brand are stripped back; consumers still recognise the bottle shape, the unmistakable colour and the logo typeface.
These aspects are instantly recognisable to Coca-Cola. Moreover, the brand is universally synonymous with happiness which is directly in line with their promise ‘to inspire moments of optimism and uplift’. Interestingly enough, most reports suggest that in blind taste tests between Coca-Cola and Pepsi, Pepsi usually wins. However, in reality Coca-Cola is the clear winner because it has a brand promise that resonates with consumers and a brand identity that is easily recognisable. Beyond that, Coca-Cola is consistent in the way they brand and market themselves so that consumers are never confused about what they stand for.
You may have a wonderful product, but to stand out in a saturated market, you need to have a great brand that represents something too. Your brand has to plant itself in the hearts and minds of consumers because they need a reason to pick up your product, not your competitors, and buy into what you're selling.
How are you going to stand apart?