A strong brand identity, or what?
Strong brands represent something unique and consistent, regardless of the passage of time. Identity is what drives the organization to achieve results, facilitates the recruitment of the best talent into the ranks of the company, but above all — it outlines the concrete framework that facilitates the running of the company.
I wrote more about the power of visual identification, which constitutes identity, in the article “The product is not everything. Why do you need branding?” - Länk
According to the respondents, the basis of a strong corporate identity is mainly three elements of an opportunity-based strategy. In simple terms, it can be reduced to answering the questions:
1. What value do you offer to your customers?
2. What opportunities do you have to create this value?
3. What set of products or services do you have that take advantage of these opportunities and add value to your offering?
Firms that invest in image building offer more value
Let me depict this opportunity-based strategy on flagship examples clearly defined and (importantly!) Consistent characters: Apple and Ikea.
Apple is “committed to providing its customers with the best user experience through innovative hardware, software and services.” Ikea aims to “create a better everyday life” by offering “a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible can afford them.”
Both companies create identities based on their distinctive, unique skills that set them apart from the competition.
Ikea leverages its product design capabilities for price and stylish design and efficient and scalable supply chain to provide consumers around the world with low-cost home furnishings. And here again, the goal: to make life easier and make people fall in love with these possibilities. Will you agree, unless both brands have achieved them?
Easy to say, harder to do
Building a strong brand identity is one of the most fundamental elements of a business strategy. After all, it pays off at a fast pace and at an equally high percentage. However, according to the aforementioned study, companies are still getting lost in this. And their goals and missions, often vaguely referred to as “we are committed to providing our customers with the highest quality and widest range” do not help at all.
Consistency is key
By knowing well and using their characteristics and strengths to build a clear identity, companies can perform better than the competition. Take advantage of this potential!
