The Importance of Branding
I have been a marketing mentor to a class of high school students for the past several years. My first lesson was on the importance of having a good brand. I talked about all the elements of brand positioning – the target consumer, consumer need, functional and emotional benefits, brand personality, reason to believe, etc. I walked through all the key elements of a brand positioning statement and how to create the framework to pull it all together – whether it is shown in the shape of a house, ladder, key, or circle. As I walked through each of the elements, I began to see the students' eyes glaze over, they started staring out the window, and heads were nodding – not in the good I’m-following-along way but in the I’m-about-to-fall-asleep way. I realized that explaining the power of a strong brand wasn’t easily done using marketing buzzwords and frameworks, but rather a real-life example.
I switched tactics and asked a question: If Porsche were to create a toaster, what would it look like? At first, completely blank stares. Why would Porsche ever create a toaster? And then I started asking specific questions, to which the students answered immediately and decisively:
What material would it be? Stainless Steel, high-end trim
What is the style/appearance? Modern and cool, different from other toasters
What kinds of features would it have? Advanced technology, Faster cooking
Where would it be sold? Williams Sonoma
Where wouldn’t it be sold? Walmart
What price would it be? Very Expensive
What would the packaging look like? Black box, Elegant, Sleek, Modern
Having a group of 16-year-olds be able to describe the features, pricing, product, placement, and packaging of a product that doesn’t exist and likely never will, shows the power of a strong brand. You might be able to sell products in the short term without a solid foundation, but a powerful brand is something that will drive your strategy, innovation, and tactical execution - sustaining you into the future.
Your brand is how customers think of you – in the past, present, and future. A strong brand positioning is built over time, needs to be nurtured and never compromised.