CEO Today - December 2022

Though a logo is a symbolic piece of the business, and the overall brand, it’s not the only thing that helps to drive customer retention and increase annual revenue. Building an iconic brand means that a business creates a sense of authority within its marketplace, and allows it to amplify its value proposition. If you have to think of all the iconic brands that exist today, you’ll notice how these companies have spent years and a seemingly endless amount of financial resources on developing a brand that is both unique and speaks directly to their clientele. Though having a striking brand that leaves an impression is important, as it not only helps to establish a platform within a specific industry or marketplace through which the business can communicate with consumers - it’s also about creating an image that resonates with the business’s core identity. In the ever-increasingly digital consumer world, brands are constantly looking for innovative ways that can help set them apart from their competition. For smaller enterprises that have both less market traction and physical resources to build an iconic brand, they must look to create social awareness by creating an emotional consumer connection. So if a brand is more than its logo, how do you build an iconic brand in the modern age? Here’s a look at five industry secrets business owners can follow. Value perception When building a new brand, it’s important to take a closer look at the business’ value perception in terms of what it offers to the consumer market, and how it plays a role within the value chain. Additionally, companies should consider what their values are, and how they can shape that into the form of a physical expression. Often we can define a brand through its mission statement, as this already gives a clear idea of what the company wants to achieve and how they’re looking to do it. The value perception speaks directly to what the brand will become in the near term. If a company is steadfast in delivering transparent results, then this should be included in its marketing and advertising strategies as it grows. Ultimately, entities want to be recognized for the good and positive they bring to their clients and their direct community. And if we consider the value perception when building an iconic brand, we start to realize how important it is that core values play a vital role in the presence a business creates within the marketplace. Create connection Modern-day consumer support brands they can resonate with, and this is true both in terms of the company’s practices and the physical brand it sells to these consumers. Take for example Apple, although the company has seen some media backlash for not being innovative enough in recent years, consumers continue to buy their products. Apple has done what many companies aim to do, it has created an iconic brand that directly connects with its clientele. What this means is that the people who buy iPhones and AirPods feel more emotionally connected with the brand, as it’s become part of their human identity. Creating an iconic brand should be about establishing a connection with consumers. A connection can be archived through creating personal experiences, or simply having a range of products and services that are tailored to a select audience. Though it’s impossible to be connected with every customer, it’s best to have a clear picture of how you can convey an emotional experience and how people will be able to resonate with that message. Corporate identity Brand and corporate identity is often used interchangeably, and while they are closely related, they can mean something different when it comes to building a business brand. Corporate identity in this case is about telling a story and sharing a sense of personality that the business brings to its industry. Identity can be found in several elements within the brandbuilding process, these include logos, the name, colour scheme, wording, customer service, and even the uniforms staff members wear. Identity is all about the physical appearance or image a business portrays to the public. THE DISRUPTORS vision & strategy

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