Friday, December 12, 2014

Marks that matter: What makes a brand valuable?

With increased accessibility of goods fostered by social media, consumers are becoming more aware, and therefore more careful in selecting brands for specific products. Social media has played a significant role in evolving consumerism.

As advertisements become frequent and mainstream, brands are challenged further tp stand out in growing markets. Buzzwords and creative, innovative, and interactive strategies are being deployed, but studies show that consumers eventually overcome the desire to partake in glamor or high-caliber product performance. Brands that foster the creation of a meaningful life are now making more impact.

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Global surveys have identified meaningful brands based on how consumers interact with, react to, and act for the products on offer. The following enumerates the marks that matter:

• Personalized: products and services allowing for innovation, and personal interactions as in the case of Amazon;

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• Simple: favors ease of use, with considerations even applied to logo selection and creation. It has been found that about 95 percent of trusted brands have logos that are easy to view and decipher; • Drive for quality: consumers favor consistency in performance, living up to promises and loyalty to standards, as in the case of Ford and FedEx;

• Memorable: allows for consumers to take an active part in the creation of a unique experience, and encourages them to forge connections, as in the case of Starbucks;

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• Hopeful: such as those that sell happiness like Coca-Cola and can-do attitude like Nike.

Consumers are wiser nowadays. Companies, products, and service-providers are trusted for how they put value to establishing truthful relationships with the consumers. Focusing on making a consumer highly satisfied proves to be of the greatest advantage in a marketing strategy.  

Spiro Baltas is the founder of Gotham Brand, a full service branding firm that works with clients in crafting unique and individual brand identities and personalities. Learn more about how his branding firm changes the landscape of doing business here.