Landor & Fitch India Managing Director, Lulu Raghaven, describes how being brand-led can drive extraordinary value for your business.
Have you been frustrated because your customers don’t see you the unique way you see your brand? Are your accomplishments not reflected in the stories told about you? Aren’t your employees as enthusiastic and energized as you would like? Do you view emerging ESG imperatives as a huge burden rather than an opportunity?
If you answered yes to any of the questions above, you may not be using the brand to its full potential to drive value for your organization.
Often branding is understood as logos, labels and colors. Seen in this light, the reach of the brand is limited to marketing communications. Its sphere of influence is minimal.
What if you saw the brand as a platform for action? Think of it as the meaning you want to be associated with or the story you want to tell all stakeholders that needs to manifest in everything you do, from the culture you cultivate for your employees, to the products and services you develop, experiences you create. for your clients, the tone and manner of your communications, and even the lens through which you view the emerging ESG opportunity.
Seen in this light, brand management becomes the management of meaning across the organization. You wear the “brand led” hat to direct all of your efforts across all business activities.
How could your goal inspire stories, symbols, and rituals to create a unique culture that attracts top talent and fully engages current employees?
How can your brand meaning and personality help you deliver physical and online customer experiences beyond generics?
How could your brand attributes help you choose the right innovations that are not only relevant but also differentiated, to create customer love and build brand equity and value?
How could you use your brand purpose to go beyond sustainability compliance and create a competitive advantage through your sustainability initiatives?
How can your brand purpose, positioning and personality shine through in all your communications?
When you’re brand-led, you liberate your brand and give it the ability to add extraordinary value to your business. Greater relevance, greater differentiation, greater momentum – all leading to greater brand strength which correlates with market share. Our research shows that a 3% increase in brand strength translates to an average 1% increase in market share. Moreover, relevance is highly predictive of current performance and differentiation is highly predictive of future growth potential.
Put on the brand-led hat and see how brand-led business transformation can help you achieve greater business growth.