How to Bring Brand Value and Influence Purchase Decisions

In today's highly competitive business landscape, branding has become a cornerstone of success. Companies invest significant resources in crafting a distinct brand identity to distinguish themselves in the market and build a loyal customer base. However, the question arises: does being 'on brand' matter? While adhering to a consistent brand identity has advantages, it can lead to limitations and missed opportunities. This article will explore the implications of being 'on brand' and the importance of embracing authenticity and flexibility to connect with diverse audiences and remain relevant in a dynamic market.

Values as the New Branding Imperative

Brands no longer define values; values have become the leading factor to why people pick brands. Back then, legacy brands such as Coke or Nike supplied the values influencing our purchasing decisions, which set the bar high to enter any market in the pre-internet era. This meant consumers had just a few brands to choose from.

Today, we might go to a food delivery app and browse various food options. In this experience, the delivery app provides the consumer with a positive experience, not the actual restaurant. If a person using the app is vegan, their values will determine which restaurant they pick on the delivery app. These are values that people didn't care about a few decades ago, and now they guide our purchasing decisions.

Branding for aesthetic purposes can't save a company that doesn't inspire or resonate with its customers. While a brand's visual identity is certainly an important consideration, there is much more to a brand than aesthetics. While a brand is intangible, it's arguably a company's most important asset because it’s the doorway through which your audience is introduced to who you are, what you believe, and what products or services you offer. Ultimately, brands are what get people to buy more for longer periods at higher prices.

To succeed in our ever-changing market landscape, a brand's identity must adapt to dynamic market trends while maintaining its core values and promises. In this article, we will explore the significance of brand consistency and share practical tips to ensure your brand remains relevant and impactful in a constantly evolving business environment.

Embracing Authenticity for Connection

Authenticity has emerged as a powerful tool for building genuine connections with customers. People are increasingly drawn to brands that showcase their true values, beliefs, and personality. Authenticity fosters trust and loyalty, as customers feel more connected to a brand that shares their core values. By being authentic, businesses can attract a more diverse audience, as people from different backgrounds are more likely to relate to a brand that resonates with their own beliefs and experiences.

Authenticity also allows businesses to build stronger relationships with customers. When a brand is true to itself, it can establish a more authentic dialogue with its audience. This two-way communication fosters a sense of community, and customers are more inclined to engage with a brand they perceive as genuine and relatable. In a world where consumers are bombarded with advertising and marketing messages, authenticity is a refreshing and compelling approach.

How brand value has changed marketing strategies

In the current business environment, consumers make their purchase decisions based on the quality and value the brand provides, rather than solely on the brand's aesthetics. As a result, marketing strategies need to incorporate their brand value in their messaging strategy. The brand value can include:

• Brand purpose

• Brand vision and mission

• Reports from your market research

• Details about the target audience

Focussing on value can lead to better customer retention and, most importantly, sales. When consumers encounter consistent brand values, they develop a sense of trust and reliability towards the business. Knowing what to expect from your brand creates a positive impression and encourages repeat purchases.

The Importance of Flexibility in a Dynamic Market

In a fast-paced and ever-changing market, flexibility is vital for staying competitive. Businesses that are too rigidly bound by their brand guidelines may struggle to keep up with evolving trends and customer preferences. For example, a brand with a strong focus on traditional advertising might overlook the potential of user-generated content and authentic influencer marketing to appear relatable and genuine to the audience. By embracing flexibility, companies can adapt their strategies and tactics to match the shifting landscape, ensuring they remain relevant and appealing to their target customers.

Furthermore, embracing flexibility allows businesses to explore new opportunities and avenues for growth. Companies that are open to trying new ideas and experimenting with different approaches are more likely to uncover untapped markets or discover innovative ways to engage with their customers. In contrast, brands that cling too tightly to their established brand identity might miss out on these exciting possibilities.

The Toll of Constantly Curating a Perfect Brand Image

The pressure to maintain a flawless and 'on brand' image can take a toll on a company and its employees. Constantly striving for perfection can lead to stress, anxiety, and burnout, affecting the overall well-being of the organization. Employees may feel constrained by rigid brand guidelines and hesitate to propose new ideas or take creative risks for fear of deviating from the established brand identity. This stifling environment can hinder innovation and limit the company's ability to evolve.

Conclusion

While being 'on brand' can have its advantages in creating a consistent and recognizable identity, it is essential to strike a balance between brand consistency and flexibility. Embracing authenticity allows businesses to connect with diverse audiences on a deeper level, fostering trust and loyalty. Additionally, flexibility enables companies to adapt to changing market conditions and uncover new growth opportunities. Ultimately, success in branding lies not solely in adhering to a specific brand persona, but in staying relevant and responsive to the needs and preferences of the target audience.