Sharpie. Apple. Starbucks. It might not be obvious at first glance, but these three companies have far more in common than being frequently seen in bookstores; they all have created a strong brand identity. The first thing that comes to mind when you think Sharpie is permanent markers. Apple makes you think sleek. Starbucks conjures up images of coffee. This proves just how important having strong brand identity is for a company.
A brand that is muddled with numerous conflicting logos and tones will lead to a weak identity. When a brand identity isn’t well communicated to a consumer, they will tend to perceive your brand in their own way; leading your brand image to be miles away from your identity. With a brand identity being so pivotal to a brand, protecting it is essential to a company that wants to succeed.
According to a 2015 study from Ocean Tomo, on average 84 percent of an S&P 500 company’s assets are now intangible: meaning that far and away the most important thing for any company now is their brand. Protection of your brand identity is paramount; an unprotected brand can fall victim becoming a poor identity in numerous ways.
With the continued rise and popularity of the internet news spreads like a wildfire, and in some cases, this wildfire can burn your identity. Everyone remembers when McDonald’s play places were revealed as being germ-filled. Within a matter of days, they went from a fun place for your kids to play to a bacterial breeding ground.
Brand identity can be brought down as well through the actions of the employees. When employees act in ethically questionable ways at your business, it is the company that will be taking the brunt of the impact. Between getting caught up in legal issues and how employees are now perceived at your company, the brand identity can quickly be ruined.
Finally, imposters can attack swiftly and bring down a good identity. Unprotected logos and other intellectual property could be used by others for their own purposes, or possibly even for nefarious reasons. The logo you have been using to help cultivate your identity could one day suddenly show up somewhere else and undo the work you have done to associate that image with your brand.
Protecting your brand identity is essential to creating a thriving corporation. Be sure to legally protect all intellectual property, and have procedures in place for when situations arise that could damage brand identity. A good brand identity can be the difference between becoming the next Apple, or becoming the next Blockbuster.Read More