The Business of Building Your Brand

Over the years, there has been a slant toward performance marketing rather than brand marketing due to ease of trackability and measurement. However, companies must rethink brand marketing if they want to remain relevant and continue to differentiate themselves in an exceedingly competitive landscape.

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April 27, 2021

What’s your business? If your answer is, “we sell such and such product” or “provide so and so service,” that's only a fragment of what you doThe truth is business has far less to do with commercial transactions and much more to do with personal perceptions. Consider the following story.

A Tale of Two Airlines
A couple years ago Delta and American made headline news when a group of 41 students and their teachers who were headed to Washington D.C. for a field trip were left stranded after American canceled their flight and did not offer a replacement flight. Delta caught wind and came to the class’s rescue by arranging a chartered plane to fly them to their destination.

While this could be perceived as PR play, it’s actually a lesson of good branding. Both companies are in the same business, but only one demonstrated that they do more than get passengers from one part of the country to another. Through their actions, each airline formed a lasting impression (favorable or unfavorable) in the minds of these students and teachers which would impact how they chose to travel for the future.

The Tangible Value of an Intangible Asset
Brand marketing defines a company’s reputation, values, culture, quality of its offerings, and so much more. While these attributes are undeniably important for the success of any business, many SMBs view brand marketing as not a worthwhile investment because it’s not easily quantifiable or measurable. However, branding is foundational and can produce astronomical results. 

Consider this, the total investment necessary to own a McDonald’s Franchise ranges from $1M to $2.2M dollars. It’s not because McDonald’s offers a first-class fine dining experience that the buy-in is so high; it’s because the brand is worth over one hundred billion dollars. Similarly, when a company looks to acquire another business, value is quantified not just based on the physical assets like raw materials, buildings, and people, but the intangible. Branding builds incredible value for companies which translates to their balance sheet. 

Recognition is Still Relevant
Up until about 20 years ago, brand marketing was about establishing product superiority. The goal was to have consumers develop such a deep affinity for the products they consumed that they would not consider purchasing from a competitor. This is how is household names like Kleenex and Band-Aid came about and why people have an undying allegiance to either Coca-Cola oPepsi. But the internet changed all that. Today, consumers have an abundance of options, and they aren’t committed to one specific product. They’re more willing to explore new brands, especially those that align with their identity and values. 

For companies to remain relevant and continue to differentiate themselves in an exceedingly competitive landscape, they musrethink brand marketing. Instead of being one-dimensional, branding comes to life. It takes on its own identity and voice fueled by emotions, motivations and a sense of communityThe focus is no longer on products that are here one day and gone the next, but the enduring perceptions, feelings and experiences people associate with your business. At the end of the day, longevity is a result of loyalty and people are don't have relationships with products, they are loyal to brands. 

When Your Business Outgrows Your Brand
Brands are built daily and it takes years of conscious, consistent effort. Global prominence may not be the end goal; however, there will come a time wheyour business outgrows your brand. This may be due to normal market shifts or a major event, but whatever the reason, it’s never too late to reposition your brand and develop a new relationship with consumers.  

Just one month ago, Multiview launched a new website with an updated brand look. After 20 years in business, it was important for us to redefine our corporate identity and who we were in the marketplace. 

We’re not the same company we were 20 years ago.” - Danielle Watson, Sr. Director of Sales 

Since we serve three distinct markets with differing needs, it was necessary for us to divide our messaging and branding to reach each group more effectively. Knowing that the association market is community-centered and mission-focused, we chose warm orange and membership-based messaging to market to this group. For the B2B and agency markets which are driven by revenue and are seeking cutting-edge digital solutions, we chose a vibrant green hue and results-focused language.  

In addition to modernizing the look and feel of our brand by updating colors, photos, fonts and supporting graphics, we revamped our mission statement to clearly signify our intent – to connect brands to their target audiences through digital media. Our guiding principles are to be a consultative and innovative authority on digital marketing and publishing that provides friendly and reliable service.  

“We made a shift in our market positioning as well as product merchandising to change the conversation between us and the different markets we engage with. We wanted to see Multiview as a standalone player in its own right.” - Yariv Drori, Chief Strategy Officer  

Though the long-term implications are yet to be seenwe know this will position Multiview as the ultimate destination for unique B2B marketing opportunities and elevate our brand first in awareness, then in preference, and ultimately in market share.

If you’re considering updating your brand or improving your current website, Multiview offers expert website design services to deliver stunning corporate websites that are fully responsive, optimized for search engines and surprisingly affordable. Connect with one of our consultants today. 

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