So how have today’s biggest brands made it? As you’re building your brand, have you ever questioned, “what makes the top players tick?” We’re guessing you have. After all, we’ve been there ourselves. In a nutshell, it’s testimonial to their brand identity.
Kantar’s BrandZ Most Valuable Global Brands report explains how 2021 saw the world’s leading companies grow by 42%, achieving a total market share of $7.1 trillion.
It’s a fair question. How do the likes of Nike, Apple, Google and Spotify distinguish themselves and leave their mark on a consumer’s mind? How do they continue to sustain sales and increase profits every year? All brands approach things differently. However, each have common traits which have made them the most iconic and recognisable brands we know and love today.
Here are 7 things the world’s best brands have in common.
1. A unique brand identity
Consumers are drawn to things they can relate to. For example, a unique name, a logo, a collection of colours or even a memorable sound or smell.
A brand identity is a collection of elements that cleverly portray your company and its values. It helps customers form an opinion about your brand. It should represent aspects such as:
- Your company mission and values.
- The products and services you provide.
- Your ideas.
- Your brand personality.
Your brand identity is the unique impression you want to leave with your customers. Sometimes it’s just a feeling, or an image. Most importantly, it helps you become memorable and easy to differentiate.
Take Google for example. Larry Page and Sergey Brin originally launched Google as BackRub, named after the analysis of the web’s ‘back links’. This name didn’t quite roll off the tongue, and unsurprisingly, barely lasted a year.
The name Google is a huge part of their brand identity. It’s helped make them the leading search engine to date. It also reflects the company’s mission – to make all information accessible to the world, since the Googol is a very large number.
A brand identity doesn’t just stop at a name. Who doesn’t know the tagline ‘just do it’, recognise the Apple logo, or sing ‘holidays are coming’, whilst thinking of Coca Cola? The strongest brand identities are instantly recognised and immediately convey a message. This is why millions of dollars are spent every year to promote and develop this part of a business. Brand identities attract the right audience and affect sales and market share – so it’s worth the investment.
Having a strong brand identity is the ticket to loyalty and trust, and will leave a lasting memory in a customer’s mind.
2. They know their customers
It pays to understand your audience. To stay appealing, you should be specific and relevant to your target market. Here are a few ways to do this:
- Monitor and listen to customer feedback.
- Review sales trends to understand preferences.
- Interview your customers regularly.
- Experiment with content and messaging.
Understanding your consumer will affect all elements of your identity: your marketing, your product offering and the way you interact with your customers. Will your campaign resonate? Are you appealing to the right audience? If not, you may need to reconsider your approach.
3. A brand promise
A brand promise is a value or experience your customer can expect every single time they interact with you. Call it an extension of your brand compass.
Take Lush for example, the cosmetics manufacturer. Their brand promise centres on ‘Freshness.’
The brand promise Lush makes to their customers is to create products using only the freshest natural ingredients. They explain further about the issues with ingredients decomposing over time. Therefore, if you are to receive their best product as a consumer, it has to be made in smaller batches and delivered immediately to their stores.
Your brand promise forms part of your identity. It helps you to stand out from the competition – something top brands know well. Remember, the authenticity of your brand promise speaks volumes about an organisation.
It has the power to make or break a business. If it doesn’t resonate, it won’t work. A unique and well-executed brand promise will cut through the noise, bring greater customer loyalty and ROI.
4. Excellent customer experience
“A satisfied customer is the best business strategy of all.” – Michael LeBoeuf.
In today’s competitive landscape, customer experience should be front and centre and be a fundamental part of an organisation’s long-term strategy. A positive customer experience promotes loyalty, helps with retention, and encourages brand advocacy.
Question to the panel…
Do you learn about new artists from Spotify’s ‘Discover Weekly’? Or reminisce over the “Spotify Wrapped” campaign each year? These guys are a great example of an organisation nailing their customer-centricity.
The ‘freemium’ audio player appeals specifically to the person listening, by tailoring results through clever AI and tracked customer data. The result? An enhanced and tailored experience that will likely convert free listers into premium subscribers.
People spend money with businesses they trust. So, question, ‘are we doing enough?’ If your customer service team aren’t quick responders, or you’re not delivering a positive customer experience, your brand identity will suffer, potentially affecting your profitability.
5. A unique proposition
Standing out from the crowd is tough. Especially as many companies sell similar products or services.
It’s fair to say that leading brands succeed because they offer something unique. More often than less, this isn’t always true. After all, Nike still sell shoes and so does everybody else… The trick is in your ‘offering.’ It’s a combination of factors that surround the products and services you provide to your customers. For example, same-day delivery, or a free on-boarding session might help you to create a unique proposition that your competitors don’t.
Let’s take a look at Amazon. Amazon has many unique offerings, making them stand out from the crowd:
- A simple website to buy everything you need online.
- An easy way to search for products.
- Product reviews by real customers.
- Highly relevant product recommendations.
- A next-day delivery service
Sure, there are many websites out there doing what Amazon does today. Yet, they keep their core values at the centre of what they do.
6. A strong community
The most successful brands amass ‘cult-like’ followings of their most beloved brand advocates. More commonly today, you’ll find that expressed through the large social media followings of today’s most popular brands.
Successful brands turn to a number of social platforms in order to reach their audiences. Social media presence can help to:
- Build brand loyalty by connecting like-minded customers.
- Achieve more brand awareness and engagement.
- Connect you with influencers and customers.
- Get real customer feedback and insights.
Nike is one of the most followed brands on social media. With over 318 social media profiles, they cater to many geolocations, and use each platform as a powerful marketing tool to help with their world domination.
They use social media to promote campaigns, interact with their following, learn, and manage crises. They have athletes, celebrities, and social influencers as brand ambassadors and don’t shy away from the occasional political conversation, as many others do.
7. Healthy competition
Our favorite brands go above and beyond to stand out in a crowd. They push boundaries, offer something unique, and ensure they stay ahead of the game.
It’s good to keep track of your competitors. Factor this into your brand identity and keep the following in mind:
- Do you have the right personality and presence?
- Are you delivering a solid customer experience?
- Is your service or product offering up to scratch?
- Are you being authentic?
- How are your awareness campaigns comparing?
- What is your cutting edge difference?
Will you be the next big brand?
Everything circles back to the power of brand identity. It’s crucial to get this right if you want to succeed. Having a clear brand identity will trigger a lasting impression in your customer’s mind and encourage them to willingly promote your brand. Each successful brand haves a story to tell… but it’s how they tell the story that sets them apart.
So, if you want to stand out and have a unique, instantly recognisable brand…what are you waiting for? Don’t forget about your brand identity.