More than just a Logo

Integral to a company’s brand are its logo and corporate identity. But a brand is far more than just that.

A brand is the articulation of a company’s promise. It represents the sum of the associations, beliefs and experiences that a person holds in their mind about an organisation, product or service.

The brand image is determined by what people perceive, based on experience of the company’s activities, products, personnel and environment. It is affected by advertising, product quality, media, word of mouth and direct contact with the organisation.

“A brand is about heart, values, vision and mission. It is expressed by every person in the organisation and in every dealing employees, clients, customers, suppliers and others have with the organisation.”

Branding is not a new concept, however the process of growing, managing and exploiting a brand for commercial success is something which is still not well understood by many companies.

Today, a strong brand strategy and execution are recognised tools of business planning and are integral to successful marketing.

The power of a brand lies in its ability to influence purchasing behaviour. We live in a consumer-driven society where consumers find themselves having to choose between products and services that, in many cases, actually differ very little in terms of what they offer and how they are priced. Brands help make consumer’s choices easier. Consumers are increasingly choosing to buy from companies whose values are most consistent with their own. It is a known fact that people will pay a premium for a brand they relate to.

Effective branding pre-sells your product or service

“Marketing is branding. The essence of the marketing process is building brands in the minds of consumers.”

Branding must do more than identify. In an increasingly competitive marketplace it is essential to have a unique and distinctive brand to maximise communication and sales potential. The brand must strategically position and communicate your corporate purpose to distinguish your business, products or services in a market inundated by inappropriate, predictable, impersonal and poorly designed brands.

In recent years brands have become a key element of companies’ valuations with brand-related intangible assets accounting for up to 60% of a company’s value.

There are many reasons for an organisation to develop a new brand or re-develop an existing one. Several of the main influencers are:

Business has changed
> Technology changes
> Emerging trends
> New competitors
> New markets
> New legislation
> Change in business practice

The organisation has changed
> New leader
> New vision
> New corporate goals
> Restructuring
> Merger or takeover

A desire to change
> New business launch
> Move into new area of business
> Privatisation or deregulation

Tony Heywood is a Fellow of the Design Institute of Australia, founder of Heywood Innovation in Sydney Australia and joint founder of BrandSynergy in Singapore.
tony@heywood.com.au
www.heywood.com.au

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