Several years ago, I had an experience that I get reminded of often as I work with our clients on building their brands.
I was in the conference room of a mortgage company in San Diego, and the reason I was there was because their senior-leaders were interested in learning our approach to building brands, and how we may be able to help them properly define theirs.
This company was stuck in a vicious and perpetual state of re-branding for quite a few years, and the reason they found themselves in this predicament was because they couldn’t reach a consensus, or an agreement on what the brand should be.
Countless hours were spent thinking, planning, and second-guessing themselves, and nothing ever came to fruition. It was a classic case of analysis paralysis. Plus, it didn’t help that they were trying to build a brand by a committee of twelve people. So, it’s no wonder they were in the situation!
So, here I was sitting at a table with their committee, and at the beginning of the meeting the owner of the company said something I’ll never forget:
Before we can define what our brand is, we must first define what a brand is. And although this makes so much sense and that I knew exactly where he was going, it was the way he said it that really struck me and stuck with me.
As you know, oftentimes it’s the little things you see or hear in life that really stick with you.
So, in that spirit, I want to start off this podcast with defining what a brand it is.
A brand is thoughts that come to people’s minds when they hear a company name, or see its logo.
It really is that simple, and the reason is because the term “brand” has become so ambiguous that its definition has come to rest quite comfortably in the mind of the beholder.
Here’s what I mean: Not too long ago, I asked ten people, individually, what comes to mind when they hear the name BMW.
Among the responses included: dream car, which came up three times, fast, expensive, which also came up three times, Mercedes’ evil twin, luxury, and their old tagline, ultimate driving machine.
Okay. So, let’s switch gears and get personal here: Let’s talk about your brand.
If you were to ask ten random employees and ten random clients what comes to mind when they hear your company name, I think it would be interesting for you to hear the responses.
How many responses would be similar? How many different ways is your brand perceived? Would there any pleasant, or unpleasant responses? You know where I’m going here.
Now, let’s put that aside for a moment and talk about reputation: Reputation is defined as the beliefs or opinions that are generally held about someone or something.
Yikes! If you give this just a few ounces of thought, that’s pretty darn close to the definition of a brand.
So, here’s the question: What exactly is the fundamental difference between brand and reputation?
Here we go: We’ve already established that brand is defined as thoughts that come to people’s minds when they hear a company name or see its logo. Okay. But, those thoughts and impressions had to have come from somewhere.
Typically, they come from a number of different sources, such as a person’s prior experiences with the brand, what friends or colleagues say about the brand, impressions of the brand based on any sort of online research such as its website or social media activity, or, whether or not the person has ever even heard of the brand.
Now, if we go back to the definition of reputation – the beliefs and opinions that are generally held about someone or something, we can reasonably and confidently conclude that a brand earns a reputation based on the actions of its people. Specifically, how they conduct business with customers, as well as the quality of its products and&