Developing an iconic brand - whether on a global or local scale - is not something that happens by accident. It requires a focused and committed approach not only to brand identity, but also to the business principles behind the brand. Below are five tips on building an iconic brand that can stand up to scrutiny.
If you think about what The Coca-Cola Company is famous for, it's not for Bonaqua, or Nestea - it's for Coca-Cola. The Coca-Cola brand is a global icon because they perfected one product. Of course, their product offering is extensive - focusing your efforts doesn't mean you can't branch out. Apple and Google are another two examples of iconic brands that are known for their core product offering, but have been able to expand their offering extensively thanks to the strong backing provided by their branding.
Trying to be a jack-of-all-trades is rarely an effective strategy. By focusing your efforts in one sector of an industry and creating a powerful brand identity in that sector, you are far more likely to build a brand that has the potential to be iconic.
A good business strategy is essential to ensure that your brand will endure. Today's competitive business landscape demands attention to strategic management and planning more than ever, and in order to feature as a strong competitor in your industry, you will need to ensure that your business strategy is firmly aligned with your brand objectives.
Defining a unique selling point and creating a powerful brand promise are essential. However, unless you can follow through on that promise, your brand will not stand up to the scrutiny of consumers. This is where sound strategy must translate into sound practice.
One of the reasons that Apple continues to be so successful as a brand is that it is committed to innovation. Steve Jobs famously said that it's not the consumer's job to know what they want, and Apple is dedicated to pre-empting consumer needs and desires to stay ahead of the curve.
Continuous development is key. If your brand can't keep up, it won't remain an icon. However, this is much easier said than done, and innovation demands an environment that is conducive to hard work and creativity. Understanding what motivates employees and what is important to them, and putting measures in place to create a happy and productive workforce, is a good business practice that is too often ignored.
In developing a brand identity that has the potential to be iconic, it is important to remain constantly aware of the fact that your target audiences are made up of individuals, and that behind your brand is a team of people. Effective people management and communication are key to ensuring that you always factor in the human element.
Develop your marketing management skills and align your brand development with sound marketing and business principles. Consider the UCT Postgraduate Diploma in Management specialising in Marketing. For more information contact Chris Hosken on +27 (0)21 447 7565, or visit http://postgrad.uct.ac.za.
