BUILDING TRUST BRANDING

1. BUILDING TRUST BRANDING

2. Topic to be discuss.. What is Brand. Brand Elements Four key elements to creating iconic brands Components of trust in building brand value. Ways to Build Trust in Your Brand Using Social Media Business Branding How to Build Brand Reputation and Consumer Trust??? Why Trust Matters More Than Ever for Brands???

3. What is Brand???? Brand is the "name, term, design, symbol, or any other feature that identifies one seller's product distinct from those of other sellers."Initially, branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot iron stamp and was subsequently used in business, marketing, and advertising. A modern example of a brand is Coca Cola which belongs to the Coca-Cola Company.

4. Brand Elements • Name: The word or words used to identify a company, product, service, or concept. • Logo: The visual trademark that identifies the brand. • Tagline or Catchphrase: "The Quicker Picker Upper" is associated with Bounty paper towels. • Graphics: The dynamic ribbon is a trademarked part of Coca-Cola's brand. • Shapes: The distinctive shapes of the Coca-Cola bottle and of the Volkswagen Beetle are trademarked elements of those brands. • Colors: Owens-Corning is the only brand of fiberglass insulation that can be pink. • Scents: The rose-jasmine-musk scent of Chanel No. 5 is trademarked. • Movements: Lamborghini has trademarked the upward motion of its car doors.

5. Four key elements to creating iconic brands • "Necessary conditions" – The performance of the product must at least be acceptable, preferably with a reputation of having good quality. • "Myth-making" – A meaningful storytelling fabricated by cultural insiders. These must be seen as legitimate and respected by consumers for stories to be accepted. • "Cultural contradictions" – Some kind of mismatch between prevailing ideology and emergent undercurrents in society. In other words a difference with the way consumers are and how they wish they were. • "The cultural brand management process" – Actively engaging in the myth-making process in making sure the brand maintains its position as an icon.

6. Components of trust in building brand value. Trusted brands do the right things. Trusted brands enjoy an “us=them” relationship with customers. Trusted brands have empathy. Trusted brands never fail customers. Trusted brands are transparent.

7. Ways to Build Trust in Your Brand Using Social Media Content Telling A Story Building Influencers Transparency Saying Thank You Communicating Thought Leadership No Hard Selling... Ever Size Doesn't Matter Criticism is Important: Consider the Design of your Website and Social Media Pages Have Fun

8. Business Branding If people don't trust you they won't buy from you. Using the same color consistently throughout all aspects of your business helps build customer trust and loyalty. Every successful business knows building a consistent brand will: 1.build brand trust 2.create long term customer loyalty 3.generate repeat sales

9. How to Build Brand Reputation and Consumer Trust??? Measuring Reputation So how do you win consumer trust and build a strong reputation? As the study mentions, it takes more than just great products. It takes local citizenship, leadership and workplace fairness to drive people’s admiration and trust. Functional / Rational Although the study mentioned that perceptions about the enterprise are more likely to drive behavior, it is clearly essential to understand consumers’ perceptions of your product and service offerings. Understanding the functional benefits also helps you to develop and improve the performance and thus the product or service satisfaction of your customers.

10. Subjective / Emotional As mentioned in the Forbes report, the emotional elements of corporate reputation are becoming more important. A Reputation Institute Executive is quoted as saying ”we live in a time when word of mouth is the number one driver of sales and competitive advantage Cultural / Relational Many of the elements that are cited in the report as building reputation for an organization come into this group. Things such as a company’s workplace image, citizenship and leadership all depend upon the culture of the (perceived) country of origin and its reputation, as well as the involvement of the organization in the local community.

11. Why Trust Matters More Than Ever for Brands??? The top two elements, market position and brand — with items like goodwill, customer lists, reputation and contracts — are largely a measure of how well companies are building trust with consumers and the wider community. They touch issues like, How well are we taking care of the environment? What are the causes the firm is championing? Another major shift is a fairly profound convergence of brand and design. Consumers today are trying and bonding with brands through design touch points and their experiences, not through advertising alone. Brand leaders today Apple, Nike, P&G are also design leaders. Advertising and marketing can amplify the success of a great design, but they can rarely compensate for a poor one.

12. Continued… Technology has also changed the picture for many brands in terms of building trust. It’s a mistake for us to keep thinking and talking about technology simply as a platform for people to learn or communicate about brands. If we look at Interbrand’s 2011 global survey, six of the world’s top ten brands (IBM, Microsoft, Google, Intel, Apple, HP) today are technology companies. They are brands in and of themselves and have been forging the same kind of deep emotional connections with consumers that we used to see in other categories such as personal care and automobiles.

13. Thanks…..