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Glossary keyword - Brand Identity

Brand Identity

Great branding is all about trust, which means that when it comes to building a brand identity that people trust and believe in, breaking promises is never an option. Because a brand is a promise, if you don’t trust a sign, it has no value. Therefore, trustworthy assurances make credible brand identities and strong market positions. People who earn strong market positions win.

Brand Identity

Consumers are ready to purchase the hope they believe in for a premium price — an example of a successful brand identity. The best way to explain brand identity is to give you an example. Let’s think of Nike. The promise of Nike is “winning.” Imagine there was a pair of trainers and the same pair of trainers right next to them with the same colors and design. If one of the trainers had a swoosh on it, and the other one did not, a customer would probably pay $80 for a pair with the swoosh and Nike on it, and would not pay 10 dollars for the one which did not have the logo.

Creating a Winning Brand

This is the value of the promise of winning. That is not just a logo, not just a name, Nike has spent billions on brand identity, investing in that swoosh, and that name meaning “winning.” Their first ad campaign was, “You don’t win silver, you lose gold.” Then they have spent a lot of money investing in sports gods that a lot of people worship, for example, Wayne Rooney. By owning all of that, people come to believe that Nike means winning. People feel like they get a bit of winning from that brand. That is the real power of marketing and the importance of transparency.

Clarity and Brand Identity

Transparency plays a crucial role when it comes to brand identity. For example, Body Shop owns a vital marketing position that is carrying an ethical business practice. The reason you choose Body Shop and pay a premium price for a bar of soap is that you believe that they are not experimenting on animals and ruining the third world countries in terms of trading practices. If a journalist discovered that the brand is allegedly testing on animals, it would be a disaster for a company. The business would lose 30% of its share price overnight, and the CEO would get kicked off the board to get ethical auditors. The reason they would do that is the only thing of real value is the brand. If that fails to mean carrying ethical business practices, people would not want to pay about 4-5$ for a regular soap.

Trust and Faith

Transparency and honesty are not necessarily the same things. The truth is what people believe is true, but that does not necessarily mean that it is true. Truth resides in faith; what we believe to be true is true until we lose that faith in particular brand identity. That is the same for marketing. So why is transparency important for brand identity? Because if a business is not transparent, people might not believe in you and your brand. If a company keeps lying to its customers and tries to cover them, they will eventually fail one day because there are journalists, and we live in an open society where there are internet and freedom of information. Brand identity is the backbone of many businesses across the globe. It always helps companies sell their products and keep their customers.

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