Do you ever step back to ask the question, "Why do brands matter?" As a marketer, or especially a brand manager, you should. After all, what justifies your job position and your brand marketing budget? Why should organizations value brands and the their managers?
I will provide you with some reasons:
- Without a brand, your organization would not have a recognizable identity.
- Without brands, people would have a much more difficult time telling the difference between your products and those of your competitors.
- Brands take on human qualities allowing your organization and its products and services to make emotional connections with your customers.
- You can link purchase-motivating benefits and values to your brand.
- People are more apt to be loyal to branded products than they are to unbranded products.
- Brands make it easier for you to charge a price premium.
- People like working for strong brands. Strong brands attract top talent.
- People need a simple way to talk about your products and services with others. They need a label and an identity.
- Brands can make people feel good. They are likable and they are capable of entertaining people.
- Your brand can serve as the focal point for a compelling story.
- People are more apt to forgive brands with which they are emotionally connected if the organization or its products and services fail them.
- By standing for a broad value or benefit, your brand can help your organization outlive its current products and services by allowing for seamless entry into new product and service categories that reinforce the broad value or benefit that your brand owns.
- Leadership teams, employees and customers are able to rally around and support brands.
- Brands focus customer awareness.