As a business owner, you understand the importance of having a clear and effective brand strategy. It not only distinguishes you in a crowded market, but it can also have a significant impact on your cash flow and overall valuation.
According to a study conducted by the Marketing Accountability Standards Board, brands can contribute an average of 19.5% to a company’s enterprise value, and in some cases, more than 50%.
But what exactly is a brand, and how do you create one that is appealing to your target audience? That is where the professionals come in. They know a thing or two about what it takes to create a successful brand as experienced brand strategists with a diverse range of skills and experiences working with top brands like Nike, General Motors, and IKEA.
They delve into the concept of a brand’s DNA and how to define, narrate, and increase affinity for your brand over time in their presentation on the art and purpose of brand positioning. They don’t just talk the talk; they also provide a guided toolset to assist you in creating and evolving your own corporate brand with your stakeholders.
Defining Brand DNA
So, what exactly is the DNA of a brand, and why is it so important? Consider it the foundation of your brand. It is the totality of your brand’s intangible and tangible components, ranging from your mission and values to your visual identity and customer experience.
It is the essence of your company’s identity, and it should be reflected in everything you do.
However, a brand’s DNA is more than just aesthetics. It is also important to define your brand’s purpose and ensure that it corresponds to the needs and desires of your target audience.
To do so, you must first understand the fundamental human desires that drive consumer behaviour and how they correspond to specific archetypes.
The 8 Forms of Brand Archetypes
Defining your brand as a business owner is critical to attracting and retaining customers. One method is to determine which of the eight brand archetypes your company belongs to.
These archetypes, first proposed by psychologist Carl Jung, serve as a framework for understanding how various brands appeal to their target audiences.
Lets define these so you can better determine which archetype fits your brand best…
This archetype represents nonconformity and rebellion. Customers who value independence and a rebellious spirit may be drawn to companies that align with this archetype. Harley Davidson, with its rebellious image and independent spirit, is an example of a company that embodies the Outlaw archetype.
This archetype represents a love of freedom and discovery. Companies that align with this archetype might appeal to customers who value adventure and exploration. An example of a company that embodies the Explorer archetype is National Geographic, with its focus on exploration and discovery.
This archetype represents the power to make dreams come true. Companies that align with this archetype might appeal to customers who value innovation and the ability to turn ideas into reality. An example of a company that embodies the Magician archetype is Apple, with its innovative products and cutting-edge technology.
This archetype represents courage and determination. Companies that align with this archetype might appeal to customers who value bravery and a can-do attitude. An example of a company that embodies the Hero archetype is Nike, with its “Just Do It” slogan and focus on athleticism.
This archetype represents a desire for intimacy and connection. Companies that align with this archetype might appeal to customers who value relationships and emotional connections. An example of a company that embodies the Lover archetype is Tiffany & Co., with its focus on romantic relationships and luxurious products.
This archetype represents a love of fun and living in the moment. Companies that align with this archetype might appeal to customers who value a lighthearted approach to life. An example of a company that embodies the Jester archetype is Skittles, with its playful branding and colorful packaging.
This archetype represents a desire to belong and fit in. Companies that align with this archetype might appeal to customers who value a sense of community and belonging. An example of a company that embodies the Everyman archetype is Walmart, with its focus on affordable products and inclusivity.
This archetype represents a desire to protect and nurture. Companies that align with this archetype might appeal to customers who value compassion and a sense of responsibility. An example of a company that embodies the Caregiver archetype is Johnson & Johnson, with its focus on caring for the health and well-being of its customers.
You can better understand your target audience and create a brand that resonates with them if you identify which of these brand archetypes your company aligns with. There is an archetype that will appeal to your customers and help you define your brand, whether you are a rebel, explorer, magician, hero, lover, jester, everyman, or carer.
Companies must align their brand purpose with the archetype they have chosen and strive to appeal to their target audience through consistent branding efforts across all touchpoints. This includes not only their logo and marketing efforts, but also the entire customer experience, from answering the phone to presenting themselves on social media.
How Storytelling Defines Your Brand
But how do you go about defining and telling the story of your brand? It’s all about the story. A strong brand narrative aids in connecting your brand to your target audience and creating an emotional connection.
To accomplish this, you must first determine your brand’s unique selling proposition (USP) and how it addresses the needs and desires of your target audience. You should also define your brand’s tone of voice and ensure that it is consistent across all channels of communication.
Once you have a clear understanding of your brand’s DNA and have defined and narrated it, it is time to focus on increasing brand affinity. It’s all about instilling emotional attachment to your brand and cultivating customer loyalty.
It’s about creating positive experiences that grow stronger with additional interactions and strengthening the bond between your brand and your audience.
One method is to harness the power of your brand’s archetype. Each archetype appeals to different basic human desires and can assist you in developing a brand that is appealing to your target audience.
For example, if your brand is aligned with the Outlaw archetype, you may want to focus on creating a rebellious and nonconformist image, whereas a brand aligned with the Explorer archetype may want to focus on themes of freedom and discovery.
You can increase affinity and create a deeper connection with your audience by creating brand messaging and experiences that align with your chosen archetype.
Customer engagement and interaction are another way to increase affinity. This can be accomplished through the use of social media, email marketing, and other methods of customer communication.
You can build loyalty and create a more personal connection with your audience by actively engaging with them and listening to their feedback.
Staying True to Your Brand
It’s also critical to stick to your brand’s values and purpose. You can build trust and credibility with your audience by consistently delivering on your brand promise and living your values.
This is especially important in today’s world, where consumers are becoming more socially and environmentally conscious, and want to support brands that share their values.
To summarise, branding is much more than a logo or visual identity. It is how your customers, employees, and the general public perceive your company. A strong brand can increase cash flow, market share, and sales and profits, ultimately increasing your company’s overall valuation.
To build a strong brand, you must first define and narrate your brand’s DNA, then focus on increasing affinity through customer engagement while remaining true to your brand values, and finally, use the power of your brand’s archetype to connect with your audience on an emotional level.
You can build a strong, successful brand that resonates with your audience and stands the test of time by following these steps.