Is Building a Strong Brand Identity Important?
Brand identity encompasses a lot, and defining it can put significant limitations on what it actually is. From a customer point of view, brand identity includes mental associations with your brand and the emotion it triggers.
Amazon’s growth was explosive, and its ability to sustain its brand promise is impressive. It promises to deliver an exceptional shopping experience, catering to frugal and luxurious clients. The brand manages its identity well, with reports in January 2020 saying that Americans trust Amazon better in doing what is right compared to various government officials. Not only do consumers buy from this no. 2 on the Fortune 500’s list, but they also trust it big time. How else is brand identity important?
Consumers recall you first
What’s the first brand to come to mind when you think of pizza? If you think of this brand and purchase from it too, you regard its brand relevance as high. It takes a lot of effort to be a relevant brand—the buyer’s first choice. The first step to acing their list is to have a strong brand identity where your name is easily associated with what your business does.
It builds a sense of community
Consumers attach deeper to businesses they value. Humans have a natural tendency to go after choices that nurture their sense of belonging. Once you fulfill this need, consumers will become advocates of your brand for as long as it takes.
It attracts like-minded consumers
Some businesses do well in supporting the deaf and mute community. If you have programs like this, make sure you communicate them to consumers. Many of them will feel elated, knowing that their purchases empower a community that deserves better recognition for their talent and abilities. Similarly, if your business admires the LGBTQ community, you can show love and support through pride shirts. Efforts like these create an inclusive culture that encourages hope and downplays fear.
It helps weather the storms
2019 was not particularly easy for the brand, Apple. The uncertainties between the US-China trade threatened to put tariffs on iPhones, they had a lengthy battle with Qualcomm, and the unveiling of 5G enabled competitor devices to endanger their sales. Strong brand identities clearly establish the ‘why’ behind businesses, which will help you navigate through the stormy days. In April, Apple and Qualcomm finally settled their issues as they agreed on a six-year patent license agreement. The deal is good enough for Qualcomm and even better for Apple, who’s under pressure to produce a 5G enabled smartphone. This reminds brands that even legal battles should be ironed out to keep true to their growth endeavors. Apple’s identity is about innovating smartphones, and it couldn’t do so without collaborating with the right companies.
A brand’s identity is like a person’s true north. It serves as an internal compass that gives it a unique set of values and embeds them into all its products, services, and decisions. With the true north in place, your business won’t be chasing irrelevant goals, helping it maintain its power to influence.