What is "Brand"?

Obviously, the term “brand” has evolved over the years.  What started as a badge or emblem became something more abstract; largely based on how people feel about a particular entity.   Considering word-of-mouth accelerators like blogs and social networking, product reviews, etc,  “brand” is going through another evolution where brands are defined by the perceptions of the masses; what we have referred to in the past as “people-driven brands”.  

In modern terms, “brand” is the blending of 3 elements:

1. Reality - This is comprised of two parts.  1) That you understand what you really are and 2) That your audience “gets it”; that they are fully connected with your value proposition, offerings, etc.  The most critical part is the first one.  One of the biggest issue with brands is the potentially massive gap between what a company thinks they are and what they really are.  Examples:  AOL, Qwest, GM.
   
2. Recognition - This is good ol’ fashioned name recognition; the “I’ve heard of you” test.  Recognition comes from advertising, PR, and word-of-mouth.  It is the most tactical of the 3 elements of brand, because it is the one area that companies have the most control over. Recognition still matters, although it is becoming less valuable in terms of advertising.  Examples:  GEICO, Yahoo, United Airlines
   
3. Reputation - This is the first and most important element of a brand.  It is the area of brand most defined by the customer experience.  As such, companies do have control over it, but too often minimize the importance of it.  Let’s put it this way - what has more influence - a commercial from a company?  Or feedback from a friend who has experienced a brand?    Example:  Google, Harley, and Apple.

All of the above adds up to the proof of your brand - relevance.  This just means people are talking about you; that you are fresh and real and modern.

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