This article explains what your brand is all about, focusing on your brand name, mission, motto, values, and promise.
Think of your favourite company. As you picture the products you like and the service you enjoy receiving, there will be a certain feeling you get. You may not be able to put your finger on the feeling, but there’s something to it. That feeling is created through your experience with that company’s specific brand, and it’s what keeps customers coming back for more. From the packaging of their products, their logo, the tone of their e-mails, and the fonts they use, everything consistently reflects the exact experience the brand is wanting to create; and that is what branding is all about.
Branding is a very important aspect of a business’s marketing strategy, and there are many elements that go into defining and maintaining a brand. We have broken down some of the most important elements of branding into 3 easy to follow articles. Here is our explanation on the first element of branding: Brand Name.
Your brand name is your story and is the first thing that differentiates you from others. Beyond the actual name of your brand, this includes the foundational elements that led to creating your brand name.
1. Brand Name
Your brand name is often the first element of your brand that consumers will encounter. It is essential that your name is distinctive, authentic, memorable, and enduring so it resonates with your target audience. This is also a great opportunity to share the story behind your brand name. How did your brand name become what it is? What is the story behind the creation of your company and brand? Does your brand name reflect these aspects of your story?
Your mission statement is a clear, concise sentence stating why your company exists, and what your overall goal is. It also might describe your business strategy and philosophy. This usually includes the kind of products or services you offer, who your consumers or market is, and the problem your products or services offer a solution to. It is recommended your solution provides a distinction that makes you unique from others in the industry, which can be used in your Unique Selling Proposition.
Tesla has a great example of a clear, memorable mission statement that explains exactly what they are accomplishing:
“To accelerate the world’s transition to sustainable energy.”
Your motto, also called a slogan, is a short descriptive phrase that represents the ideals or beliefs your company represents. It outlines what you want your venture to be and should inspire stakeholders to achieve desirable outcomes. Most of all, your motto should be short and memorable. The motto for many business’s often becomes the tagline they are recognized for.
Nike has one of the most well recognized slogans:
“Just do it.”
McDonalds is also another example of a brand that has become well known by their motto:
“I’m Lovin’ It.”
Values help shape the culture you create, support your vision, and impact your business strategy and decision making. Your core company values also help to ensure that all of your employees are aligned and working towards the same goal. We recommend choosing a maximum of 5 core values for your company. Make sure you break down each value and explain what it means for your business. Here are the values from 2 companies that break them down clearly:
- Leadership: The courage to shape a better future
- Collaboration: Leverage collective genius
- Integrity: Be real
- Accountability: If it is to be, it’s up to me
- Passion: Committed in heart and mind
- Diversity: As inclusive as our brands
- Quality: What we do, we do well
- Performance: Sport is the foundation for all we do and executional excellence is a core value of our Group.
- Passion: Passion is at the heart of our company. We are continuously moving forward, innovating, and improving.
- Integrity: We are honest, open, ethical, and fair. People trust us to adhere to our word.
- Diversity: We know it takes people with different ideas, strengths, interests, and cultural backgrounds to make our company succeed. We encourage healthy debate and differences of opinion.
Your brand promise is the value or experience that your consumers can expect to receive every single time they interact with your brand. A good brand promise will appeal to your target audience in a way that allows you to stand out and be viewed as unique in the market when compared to your competitors. If you were to promise excellent customer service, and then someone experienced poor customer service, they would most likely begin to lose trust with your brand or consider you inconsistent as you could not deliver on your promise. The more your company can deliver on your promise, the stronger your brand value will be in the eyes and minds of consumers.
Here is Tesla’s brand promise:
“To accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market”
This brand promise clearly shows the difference between the promise and the mission statement of a company. The promise lets the consumers know exactly what they can expect to receive from Tesla’s brand, while the mission statement explains the overall goal of Tesla.
Defining Your Brand
Defining your brand can be a journey of business self-discovery within itself. As you have read above, there are an extensive number of elements and details that go into creating a brand for your business. When consumers instantly recognize your brand, know who you are and what you stand for, you’ve become more than just a name and a symbol; you’ve become an experience.
With this deeper understanding of branding and brand name, we recommend you take some time to reflect on your company’s understanding of your own brand name, mission, motto, values and the promise you have created for your consumers. Here is a great question to ask yourself: “Are there any steps we can take to improve the understanding of our brand name throughout the company?”
For more great information on what branding is all about, look for part 2 which discusses Brand Image.