How much is Amazon’s brand worth? According to Statista, it is worth USD221bn (1). Any interested suitor in the company must be prepared to cough out this amount of money in addition to the worth of its other tangible assets. Little wonder companies invest in creating a consistent brand identity. Beyond the name, logo and other manifestations of the brand, it is an asset enhancing undertaking. Why?
1. Recognition and trust
One of the easiest ways to shorten the sales cycle is the presence of brand recognition and trust. Today’s consumers are bombarded by thousands of messages and claims. It clutters their minds and potentially slows down their decision-making. However, a recognised and trusted brand can shave minutes off the deliberation process.
Building recognition and trust take time. It’s an attempt to plant your stake in their minds for a specific category. When successful, your brand becomes synonymous with the category. But this cannot be achieved without consistently ‘drumming’ into consumers’ minds what your brand stands for.
2. Reliability and dependability
Each time we unwrap a new iPhone or flick Netflix on, we know what we’re in for. At a time when IoT has brought about more scams and frauds, giving consumers the peace of mind they desire with every purchase can endear them closer to the brand. The end result is loyalty and advocacy.
Reliability and dependability are products of brand consistency. Beyond product or service delivery, marketing communication activities have a huge part to play in it too. Be it your website or social media post, they must speak the same lingo as well as style and tone.
3. A higher level of marketing and branding
When your brand has achieved the qualities described in 1 and 2, you are marketing at a much higher level. Your marketing goals will move beyond convincing and converting. You’ve passed that stage. The focus shifts to innovation, from product and service ideas to customer experience. These will drive a wider wedge between you and the competition.
Is brand consistency an issue in your marketing? Connect with us to rectify it.