On a weekly basis, we receive calls from potential clients telling us that they need a new “brand”.
After meeting with them, and discussing their needs, we soon discover that what they really want is a new logo.
Unfortunately, the two terms are often used interchangeably by businesses when in fact they are not the same.
A company logo, and related tagline or positioning statement, is an outcome of the brand development process – but it is only one of the many outcomes that can be created by focusing on your brand.
In fact, the company brand is so much more.
Done properly, the brand is a true reflection of the company – its image, style, and actual personality. The brand document (or guide) identifies the company’s key organizational differentiators and market opportunities. It reviews desired target markets and identifies key messages that will resonate with those audiences. And finally, it provides design elements that are a reflection of the desired brand image and positioning (including a logo and tag line).
Why is it important to develop a complete brand?
- In a world that is changing so quickly, brand loyalty endures. With brand loyalty, a product can live for a very long time – enjoying continuous and profitable growth. Without this loyalty, the brand has little value.
- It is also important for a more practical reason – the cost of winning over a new customer is four to six times greater than the cost of retaining an old customer (keeping customers happy pays off). And generally speaking, the longer you keep a customer, the deeper their loyalty becomes.
- The intrinsic value of a brand will often translate into higher consumer pricing (because the brand owns perceived goodwill and that adds value).
- The greater your brand loyalty, the more the customer will be interested in trying the new products or services that the company introduces.
So while a logo is an outcome of the brand development process – it is not the brand.