03 Apr 5 fundamentals of brand creation
Let’s not get confused, your business’s brand is your business’s reputation. What others say about your business is your brand and it’s all about brand creation.
Playing the long game always pays out, and most business owners don’t understand this.
They’re spending way too many hours ruminating on the minutiae of the littlest thing.
Instead of being patient, they go for the quick sale, the fast ‘mulah’. Brand, is about how your potential customer feels while they interact with your business.
When you hear company names like Coca-Cola, IBM, and Mc Donalds, you have a reaction, be it good or bad you have an opinion about them.
Carve time for brand strategy
A brand is so much more than touchpoints; it is effectively a living thing with its own unique personality, attitudes, behaviours and expressions – a voice of its own.
Whether you’re a start-up founder or seeking to revitalise an existing brand, creating a well-defined, easy-to-articulate strategy makes those complex business decisions, those marketing strategies, and product developments, intuitive. Clarity is key, it will free you and fuel you.
Take a beat – a moment to reflect and use these 5 fundamentals for creating a brand that people not only like, but care about too.
Yeti’s 5 Fundamentals of Brand Creation will give your business clarity, you personal certainty, pull you out of the quagmire and put you on a proven one-way path to success. We’ve implemented this with our clients and they have made millions.
The 5 fundamentals are presented in order of hierarchy, these integral pillars of creating a brand will help you to surpass any current obstacles you are facing.
To reiterate, they will fuel you, they will define your marketing strategies and they will help you to find customers. 90% of your work will stream through these fundamentals, from which all entities of your business will flow.
They’ll save you time, transcend the minutiae and focus on what really delivers results.
So here goes.
#1 Create A Core Purpose
All businesses that have found major success have a Core Purpose.
A Core Purpose is a statement, and it explains why your company exists. It can also be described as a cause or belief.
We’re not talking money here, nor personal accolade; they are by-products. This is about the heart and soul of your company, and what it stands for in the world. Why does your company exist? Why should people care?
But profit, is your purpose?
Now, you may be thinking ‘but profit is my core purpose, that’s why my business exists’, but thinking that way at best is going to leave you unfulfilled, and at worst be completely debilitating to both your company and you.
Putting the pursuit of wealth above all else is a message that simply won’t communicate well to anybody.
Don’t confuse that a business’s success is largely determined by its revenue and profit, with how you get a business to earn large amounts of revenue and profit.
Your customers are much more likely to want to engage with companies who want to make a difference in the world and more importantly, to them.
One way to help you determine what your business’s core purpose could be is to ask ‘why’ until you reach the peak of the question set.
For example, you sell razors, ask why. “Because they’re cheap to produce, lightweight and have good margins.”
Why choose razors compared to other products with similar values? “Because I know what’s needed from a good razor.”
But that doesn’t tell me why, why sell razors in the first place? (You’ll have to be extremely self-aware to call yourself out when your answers don’t truly answer the question)
“Because I was sick of razors that were not very good.”
“Because they cost a fortune and should be better than they are.
Why do you care?
“Because they shouldn’t be getting away with it.”
There you go, so what are you really selling? Are you selling razors, or are you selling a way to battle the injustice of inferior razors at astronomical prices?
A billion dollar company
That would be a good example of a core purpose. You can sell your battle against the injustice of inferior razors at astronomical prices – The Dollar Shave Club did just that, and now they’re a billion dollar company.
Simply sell cheap razors and nobody will care. Same product, different core purpose. One has one, the other doesn’t.
You can see how having your business’s core purpose clearly defined will give you marketing clarity, give people a reason to buy, segment you from your competitors even in a crowded market, and give you a guide that will help you make all your future business decisions.
As Simon Sinek says
As founder and visionary Simon Sinek says, ‘people don’t buy what you do, they buy why you do it.’
People will believe what you believe. People will become advocates for your brand and ambassadors to boot. A must watch of his…
When you find yourself having to make a difficult business decision, run it by your core purpose. ‘Does this help me further my business’s core purpose?’
Using the above example, you could ask yourself ‘will doing this help me move toward battling the injustice of a monopolised razor industry and give consumers the value for money customers deserve?’
When you run the question by your core purpose, the answer will almost always be already made for you. The answer will be obvious.
So when you’re creating your core purpose, strive to create a core purpose which is empowering and full of energy: a core purpose which is durable and which will stand the test of time as new visions come and go.
As an example, you may have set up a charity to rid the Thames of plastic in ten years, with a mission to change the biodegradable properties of consumables by working in partnership with local retailers and government officials… but what is your companies core purpose?
A worthy core purpose would be ‘to preserve and protect the future of marine life’. This is a core purpose which can be everlasting.
Look what happened when Apple came along … they said, ‘We think differently about the world and what people can achieve. We are for the innovators. We are for the people who stand up and make a mark in this world. We have the best designs – beautifully designed computers. We make the best computers!’.
The vision statement outlines what your company hopes to achieve in the future and is our second fundamental to brand creation.
Being able to see into the future – to visualise your company’s ‘desired end state’ – is critical. Not only so you know where you are headed, but also so you know what that destination looks like.
As fantasy author Terry Pratchett wrote, ‘If you don’t know where you’re going, you’re probably going wrong’. With a destination in mind, it is much easier to plan your route, resource appropriately and foresee any challenges that may lie ahead.
Everything starts with a dream and a vision.
A vision can provide clarity and a vision can provide hope, but most of all, a concise, yet powerful dynamic and unifying message – ‘a call-to-action’ – can inspire.
The key is in enabling others to see what you can see and motivating them to want to be a part of the journey. Hell, create a killer vision statement and you might have people begging to take the journey with you.
You need to take people’s hearts and minds on a journey with you. Therefore, a vision statement is the most powerfully communicative fundamental.
It is also important that your vision statement is time-limited. Without setting a clear time frame in which to achieve your objective, there is a greater risk of failing to prioritise and subsequently losing focus which will result in you becoming lost at sea!
The aim is to avoid a process of ebb and flow. A clear vision statement will provide a conclusive target to check your progress against, from which milestone targets can be derived.
Examples of Vision Statements:
To be the best global defence, aerospace and security company | BAE Systems
To build the web’s most convenient, secure, cost-effective payment solution | PayPal
To join forces with entrepreneurs struggling to design, create, and market their ideas, so together we can build their ideal company that generates monster revenue. | Yeti
#3 Mission Statement
The mission statement explains what your company does on a day-to-day basis.
In practical terms, a mission statement is all about the journey – the strategic actions taken on a day-to-day basis to ensure your vision becomes a reality.
It is to explain what products and services your company provides alluding to the benefits these will bring to your consumers and employees.
The mission statement pertains to the planning, resourcing and implementation within the company measured by short-medium term milestone targets which may incorporate areas such as HR, Finance, Operations, IT, Sales and Marketing.
A clear and authentic mission statement also serves to distinguish your company from others through referencing your competitive advantage – the value you are able to bring to the consumer.
Examples of Mission Statements:
We design the best personal computers in the world, lead the digital music revolution, reinvented the mobile phone, and are defining the future of mobile media and computing devices | Apple
We drive advances in science, technology, aeronautics, and space exploration to enhance knowledge, education, innovation, economic vitality and stewardship of Earth | NASA
We bring innovations, technological advances and philanthropic ventures to life | Yeti
#4 Core Values
Core Values detail the principles or beliefs that guide your company’s internal conduct and its relationships with the external world.
Oftentimes the way in which your company goes about its business is just as important as the business itself. Consumers and employees find affinity in shared values and beliefs, so it is not surprising that a company which is able to align itself with the predominant belief systems of others will ultimately prove to be the most successful.
In this respect, your core values are intrinsically related to your core purpose.
Whilst some societal beliefs and values have stood the test of time, some continue to develop and evolve based on current factors and trends, so it is important to always keep your finger on the pulse of public opinion.
Your company is and will always be a work in progress – nothing is set in stone – so don’t be afraid to change. Better still, be at the forefront of that change and ride the crest of the wave.
The truths you set in place will govern both how your company is received and perceived in the world. Draw your ethical lines in the sand and be true to them. Always.
Examples of Core Values:
Acting with courage, challenging the status quo and finding new ways to grow our company and each other | Starbucks
Passion: Passion is at the heart of our company. We are continuously moving forward, innovating, and improving | Adidas
Be authentic and extraordinary, or be ignored | Yeti
A tagline is a catchy and memorable quip which evokes an image of your brand in the minds of your consumers.
OK, so perhaps a unique tagline isn’t truly a fundamental of brand creation … but it is a great way to articulate the personality of your company, plus a great tagline exudes confidence.
Although playful by nature, a well-executed, succinct tagline should consolidate the fundamentals of core purpose, vision, mission and values.
Examples of Taglines:
Because You’re Worth It | L’Oréal Paris
I’m Lovin’ It | McDonald’s
Be a Monster | Yeti
Do remember – different companies use these fundamental terms interchangeably. For some, a vision will be a core purpose, and for others, a mission will be a vision – that really isn’t important … it’s part of the minutiae!
Providing you understand their purpose in relation to one another and appreciate the necessity of the hierarchical order, the philosophy remains the same.
Don’t keep fighting a losing battle: keep it simple.
Why does your company exist?
What does your company hope to achieve in the long-term?
What does your company do on a day-to-day basis?
What principles or beliefs guide you?
Consolidate the answers above and create a unique tagline to articulate your company’s personality!