Debunking 5 common myths about branding
The term ‘brand’ has bounced around marketing circles to the point that it has become a catch-all. Here are some clarifications about what it doesn’t mean—and what it should.
There are lots of opinions about what it means and how to get it right.
Let’s debunk the five biggest “brand” myths that are circulating:
1. Your brand is how you look.
Yes, but it’s much more. It’s the voice of your communication; it’s the commitment of your people. It’s how you deal with issues and how you celebrate wins. Think of your brand as the personality of your organization.
2. Your brand is an expense with hard to measure ROI.
Many feel brand can’t be monetized, but that’s a shortsighted view of a complex concept. What makes Coca-Cola the market leader—the drink itself or its personality? Interbrand values the Coke brand at over $81 billion; that’s the bottom line.
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