Branding and Staying at the Top of the Game
What Sets Top Brands Apart
As the business world continues to grow more competitive, the best brands continue to rise to the challenge and earn the top spot in their respective industries. What makes this happen, and what relegates lesser successful companies to second place and has them settling for being the “other” guys? Here are some major branding factors that contribute.
Let’s start with what defines a company. We love to be told stories, and some of the brands indelibly marked in our minds are those that have left an impression through stories of triumph, heartache and beating the odds. Social media has capitalized on the viral pull of these emotionally charged stories, having them reach millions.
Deep-seated values are another key factor. From a company’s new logo to their latest slogan, what most people want is consistency. That’s why when companies take a chance or make major changes, you often see them go back to basics within a couple of years. We want our brands to be like pillars we can rely on.
Great brands provide great promotions. Is Apple™ on top of the tech world, brand-wise? Of course they are. But that doesn’t stop them from offering incentives to fans who buy their latest products. Is Coca-Cola®the leading corporate giant? Yes, but you still see their products go on sale every other week at the grocery store.
Another thing that top brands do is create their own natural spokespersons. These brand ambassadors may become living testimonials of the product they champion. They may end up in commercials, and may also be highly favored social media followers or friends. Great brands treat their top supporters well, thus fostering further loyalty and making them influencers among their peers as well.
A sense of community also drives fans of top brands. Again, think of Apple™ and the camaraderie and feeling of belongingness that’s evoked every time someone sees another person pull out an Apple product. Imagine friends who stop at every Starbucks® branch on a road trip to enjoy their favorite cup of coffee—these brands make people feel like they’re part of an exclusive club. This commands brand loyalty because people long to belong. Who wants to become an outsider once they’ve found themselves a part of something bigger?
These are the types of connections that make some brands rise above the rest and stay at the top.