Brands are valuable assets and provide a range of benefits to organisations.
- Make an emotional connection – brands go beyond the rational, to encourage audiences to identify and engage. This is the difference between having a product (bread for instance) and a brand that means something (Vogel’s with its emotional cues such as heritage, comfort and well-being).
- Facilitate choice – brands provide a shorthand to customers by making products easier to distinguish when they would otherwise be hard to tell apart. The Coca-cola example above is a brand that is immediately recognisable amongst the many beverage options in-store.
- Provide reassurance – brands communicate value and give customers the confidence they have made the right choice. Whittaker’s Chocolate reassures consumers with consistent product quality, taste and innovation.
- Drive culture – brands deliver meaning and context by providing a rallying point and reinforcing values and purpose. For instance, GE’s “Imagination at work” is not just a promise to customers, it’s the driving ethos within the organisation.
- Encourage loyalty – audiences return to brands that deliver reliable and predictable benefits and experiences. For instance, Toyota has a long-standing reputation for reliability, or Air New Zealand for service and style.
- Increase efficiency — brands reduce long-term costs as decisions become self-guiding and organisations align brand resources, processes and activities effectively.