22 Nov Why Brand Building is Important
Brands are more important now than at any other time before. This is because for the past several years there has been an almost scientific approach to the psychology behind each brand that leaves an imprint even stronger than that of a trademark. When the life cycle of a product can be short, a well-thought brand can be transcendent. Whenever a brand becomes the product, it gives it credibility and an aura of desirability that is associated with quality. This is why companies are so protective of their brands, as they mean money and staying power.
This is why emerging economies are willing to spend billions of dollars to buy a brand, and the investment is well worth it. One very powerful example can be seen in the automotive industry. When China wanted to bring its automotive industry to the next level, Geeley Motors of China bought Volvo. The country already had a manufacturing plant, the steel mills and the manpower to produce cars. The only thing missing was a recognized brand associated with safety and quality. Volvo gave it this.
Tata Motors of India, another emerging super-economy, did the same when it bough Jaguar and Range Rover from Ford, a company who had previously invested in those brands mainly for the prestige it brought to Ford because in this day and age branding is everything.
These are but two examples to indicate how fundamental branding can be. In fact, branding is an essential ingredient for corporations if they want to increase their value. A perfect example of this is currency. Merely pieces of paper, dollars, euros, pounds, are brands recognized all over the world whose value comes from their brand. When viewed dispassionately, the coins have more material value than the pieces of paper, yet we take them at face value because they are backed by the Queen of England or the Federal Reserve or the European Bank. All three are world brands to which we endow value globally. When we think about it, it is branding what gives value to these pieces of paper.
Brands are more important today than ever before thanks to the internet, a commodity that permits us to buy and advertise globally. New economies are exploding, especially in China, India, and Russia. More than anywhere else, consumers there buy brands. This is why it is so important for emerging brands to have a clearly defined idea behind them mixed with vast amounts of creativity and a little bit of sexiness, but not so much so that your brands becomes cheap.
When Karina Social shapes a new brand, we are strategic about it. Behind the science and the psychology that go behind creating a brand, there needs to exist a well-defined strategy. The goal is to create a sophisticated, credible, valuable brand that at the same time is remarkable and unique. Once the brand has been defined, we use Social Media confidently to build this brand into a cultural movement that will ensure a brand’s rise to preeminence.
The moment a brand has cultural movement, it can do anything in a fragmenting media environment. This happens because thanks to social media, the world is changing at a more rapid pace than it used to do before. This is why Karina Social makes certain to maximize the power of social media to a brand’s advantage by making use of the newest tools and apps to practically skyrocket a brand.
Taking into account the latest political developments, it is beneficial to take into account that brands do better in difficult times because turmoil very often forces people to revalue. Every revolution forces change. This is why brands, even when they’re new, do better in difficult times.
No branding means no differentiation because brands outlive product cycles, and whenever there is no differentiation there are no long-term profits. The majority of people don’t develop a relationship with products. More often than not, people are faithful to a brand. This is why new brands are developed with a purpose behind them. When the purpose is inspiring, and the message clear, a brand can create a following. More than ever before in the past, people today want a brand to be relevant. The latest political developments have motivated people to try and change, if not the world, at least the destiny of this country. For the first time in many years, people feel passionate about something. Thousands are rioting. Many more are actively reevaluating their lives, their belief system, the destiny of the nation, everything they took for granted in the past. A well-thought brand can rally people for or against something. This is why brands are more important than ever before.
However, it is no longer possible to simply build a brand as people used to do in the past, when life seemed to be simpler and less complicated. Today we need a cultural or a social or a political movement to help us determine what people truly want. Once that has been defined, a brand can be shaped to satisfy those needs, and social media can be used to promote its message. The potential is limitless.