CEO Today - December 2022

Take for example Chick-Fil-A, as part of its identity, aside from its products, is the fact that employees are taught to say “Thank You” after completing an order with every customer. It can be a tedious prospect to expect employees to always put their best smile on when working with hundreds of customers, but over time this has become part of their business identity and business model, which has made a lasting impression on customers. Ultimately, identity boils down to the perception people have of the brand, and in the example of Chick-Fil-A, consumers enjoy not only their food options, but the staff and the entire identity the fast food chain carries throughout. Know the audience Long before a business comes to life, entrepreneurs and founders often conduct market research to see whether there is a need for their product or service. And while market research is a key component of building a strong business model, it also plays a crucial part in establishing an iconic brand. Small businesses often start off designing a brand, whether it’s through their logos, interior, or packaging without first considering their target audience. An iconic brand that looks to outlive its founders will need to be designed with direct consumers in mind. For example, baby products are designed to resonate with the early stages of parenthood, and companies spent millions of dollars in development to create a neutral, yet intriguing product campaign that is more targeted toward the parents than it is toward babies. Now consider a high-end luxury brand that sells expensive watches of couture, the design is the opposite because the audience members aren’t necessarily the same. This ties in well with having to include a value proposition and creating an emotional connection with the customers. Some people often buy a product, not necessarily for the qualities it has, but for the name and brand itself, and how it adds value to their personality. Researching the target audience beforehand will establish a clear and concise idea of how a brand should be designed and what important aspects should be included. Direct marketing Finally, how one markets a business, whether it’s through social media, televised advertisements, radio blurbs, newspaper articles, or even through influencers - marketing helps to bring the brand and company directly to the customers. Marketing a brand ensures that a business is not only visible within its direct consumer audience, but that it can reach farther than traditional means of business operations. Additionally, marketing also helps business owners to understand the importance of consistency. And while consistency doesn’t feature elsewhere on this list, it’s still a prominent factor that needs to be considered when building a brand. Not all brands communicate the same thing, and with this, they often don’t all market their products and services in the same way. One business will spend more money on social media ads because its audience uses these platforms more, while another only makes use of billboards and sponsorship media. Marketing has a big part in what makes a brand unique and ultimately iconic. Without the right strategy or marketing plan, it will be a difficult venture to establish a brand that speaks to consumers in a memorable, yet emotional way. Final thoughts Building an iconic brand only comes through time, effort, and a lot of changes. While it’s important to remain consistent once a brand has been established, keeping up with the time and trends will help keep the business relevant in a changing consumer market. Not all companies will see their brands become a memorable piece of history, but for those that are working towards this achievement, it’s important to stay true to what the business has set out to do, and keep in mind that have a core mission will help set the brand apart from other competitors. vision & strategy

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