Branding tends to be perceived as a soft, fluffy and elusive craft that lacks scientific rigour. Nothing could be further from the truth.
An earlier post outlined the important role part of our brain (the limbic system) plays in influencing choice via brand-related feelings recalled from memory. This part of the brain also deals with things like metaphors, intuition and stories.
Most marketing executives employ a flawed brand performance model. They agonise over financial metrics like ROI, profit, EBITDA, revenue, etc. These are important but more informed marketers consider employee and brand metrics. Why do they take a more holistic and balanced approach?
Wavelength’s Darren Coleman was recently asked to comment on how brands can inspire loyalty in the digital age by The Marketer Magazine.
The great management scholar Peter Drucker wrote a half century ago, “A customer rarely buys what a company thinks it is selling him.” What Drucker meant was that customers aren’t buying products but rather are just trying to get jobs done in their lives, and products or more frequently brands help them to do this.
Values are important because they influence beliefs. Beliefs are important because they influence our behaviour. Whether you like it or not branding tries to influence behaviour – buy more, recommend more, go somewhere, etc. The list goes on. So in that respect branding is potentially something of a dark art.