I’m a sucker for a rock-solid, compelling, and well executed brand.

I’m a brand snob. I admit it.  I’m a sucker for a rock-solid, compelling, and well executed brand. When a stellar brand is coupled with a market leading product there is something unique and special about it that causes buyers to pull the trigger.

I have so much respect for the entrepreneurs and thought leaders that take the time to obsess over their offering until it comes together like a well-oiled timepiece. All the right pieces are in place. The experience is there. The product is amazing. The culture and service is on point and it all adds up to something magical. It’s not easy to pull off and it’s impressive when it all comes together which is why I find myself subconsciously rating brands in my mind.

We can all name that one store or that restaurant or even an internet brand that speaks to your soul and more often than not, when you see one of these unique, winning brands they are succeeding in their business goals as well.

Conversely, I get so frustrated for companies, where the owner has made the leap, taken the risk, spent the money to pursue their dream and when the big unveiling happens its just another vanilla offering that fades into the background of mediocrity. These businesses often don’t survive.

You know how it happens. You decide to pursue your dream. You do your market analysis. You find what you believe is a winning idea. You come up with a business plan and you begin to build your company with high hopes. Low and behold, you underestimated all the startup costs (big surprise). Ten grand here and ten grand there and all of sudden you’re low on capital so the scalpel comes out and the budget trimming begins.  Fatigue and impatience set in because you just want to get to market and show everyone how cool your offering is and this is when the shortcuts start happening.  This process unfortunately happens quite often and one of the most critical components of your future success has now been compromised.  Bummer.

So brand is important. But exactly what is a “brand”?  The term brand gets thrown around a lot and nailing down a definition might be confusing to some. Is it just my logo? Is it the name we have on the side of the building?

So brand is important. But exactly what is a “brand”?   

The term is often used but rarely clarified which I think is why so many companies fall short of actually creating a wholistic, well executed brand. 

To clarify, a brand is much more than just a logo or a name. It encompasses the entirety of a business's identity, reputation, and the emotions it evokes in its audience. A brand is the sum total of how a company is perceived by its customers, employees, and stakeholders. It is the promise a business makes to its customers, representing its values, mission, and unique personality. A brand is built through consistent messaging, visual elements, customer experiences, and the overall impression it leaves in the minds of people. It is a powerful tool that differentiates a business from its competitors and builds trust, loyalty, and recognition. Ultimately, a brand is the embodiment of a business's essence and the bridge that connects it with its target audience.

So how do you ensure you create a brand that hits all the bases and tells the true story of your company? Below we’ll walk through the components that make up a well-rounded brand and unpack how to execute on those to ensure your brand is one you can be really proud of. 

Brand Identity: This encompasses the visual elements that represent your brand, including the company name, logo, tagline, color palette, typography, and overall design aesthetics. It is the visual representation of your brand that helps it stand out and be recognizable. This one is a very, very (did I say very) critical step because it will establish a pivot point for many other decisions, you’ll be making down the road. This is where you absolutely do not want to skimp.

59% of consumers are willing to pay more for products or services from brands they perceive as a higher quality brand.

According to a study by Nielsen, 59% of consumers are willing to pay more for products or services from brands they perceive as a higher quality brand. Another study researched by Forbes indicates that strong brands consistently hold a higher market share, as customers are more likely to choose a brand they resonate with.  I do not recommend attempting to do this part of the process on your own. Bring in an expert. Find a firm.

Engage a company with a solid reputation for creating brands. To be clear, this is not your local graphics designer. Find a firm that understands the holistic nature of brands and knows how to anchor your brand with a look that encompasses everything that makes up who you are and who you want to be as a company. I’m going to be honest, this process can be expensive and long. Any good brand-builder is going to take a few weeks to walk you through the process and give you iterations of all the visual elements involved.  

I’ll say it again, do not skimp on this part. If things go the way they should, you’ll be using this brand for decades, so get it right the first time.

Brand Values: Brand values represent the guiding principles and beliefs that your brand stands for. They reflect the core values it upholds. Brand values help shape your brand's culture, decision-making, and relationships with customers and stakeholders.  These values should be near and dear to your heart and they should be deeply personal. When setting your brand values, ask yourself what values do you appreciate in life? What comes to mind when you think of the character and makeup of a person or company you want to be like?  If someone were to be talking about your company with a friend, what would you want them to say? At Speiro, our values are generosity, family, servanthood, and integrity. Those are important words to us and if asked, we could talk at length about each of them. Find the values that are important to you and start using them to define how you operate.

Brand Story: The brand story communicates the narrative and history behind your brand. It helps create an emotional connection and gives customers a reason to relate to and support you. A compelling brand story can engage customers on a deeper level and differentiate your brand from competitors. An great example of this is the dog food company “Blue Buffalo”. They’ve built their brand and their offering around their dog Blue. They have a full section of their website dedicated to tell you about Blue and why they decided to build a company that offered a higher quality line of dog food. So what is your story? Why do you want to sell what you’re selling? To be clear, the story doesn’t have to tie directly to a product. It might just be the story behind the company and the reason you chose to go into business.

Brand Experience: Brand experience is all about “the feels”. It refers to the overall experience customers have with your brand at every touchpoint. It includes interactions with your products or services, customer service, website, packaging, advertising, and any other touchpoints. By the way…this part is HUGE. Experience is everything. People make buying decisions based on emotion and that what your looking to invoke here. Emotions of positivity, thankfulness, warmth and relationship.   If you don’t get your experience right, you will most not make it in business (barring you’ve invented the first ice machine in Sahara Desert or something). Generally speaking, think of this brand element as one that could be experienced while wearing a blindfold. And yes I know…that doesn’t hold up for an online vendor but you get the gist. Your brand experience has a lot to do with how someone feels after engaging with your company. Staff training is critical to getting this right. Your people can’t read your mind. Its very important that you’re takin the time to train your staff and impart the DNA of your brand into them so they can convey the experience you’re hoping for.

Brand Reputation: Brand reputation is the overall assessment of your brand's credibility, trustworthiness, and quality out in public. It’s the word of mouth that floats around town and throughout the marketplace. This brand element can’t be bought or designed on paper.  You have to work for this one.  It is built over time through consistent delivery of brand promises, exceptional customer experiences, and positive interactions with customers and stakeholders. A study by Texas Tech University found that 83% of satisfied customers will refer a brand to others. Reputation is huge. Companies like Nordstroms understand the massive, long-term power behind this value. They get it. Their people are emersed in this starting on day-one and every day after that. It’s why there are legendary stories of customer interactions and service levels that are still told today. Over time, in every interaction you have, if you are conscious of this brand element it can be one of the most power vehicles for success, growth and sustainability as a company that you can lay hold of.

There you go. These are the core elements of a brand that you should consider and be focused on. If you put in the work to wrestle through these, your chances of success go way, way up.

As I stated above, you simply cannot overvalue the importance of putting whatever amount of time and energy it takes to nail these components. It is not an overstatement to say they will dictate how successful your company is and even whether you survive at all. So, so ,so many companies, to their detriment, simply ignore this process.  They slap up a sign with a logo made on their home computer, throw out some goods or services and scratch their heads when things don’t work out. Don’t be that person. Build a brand you are over-the-moon to share with your friends and customers and that you feel really proud of.  Build a foundation that will serve you for decades to come. Think long term. You never know…maybe one day you will be the next Nordstroms or Tesla…so get it right!