Your brand is the most valuable asset you don’t own.

The value of your brand is in the minds of your customers and is based on how well you deliver your product or service according to the expectations you set.

A simple example: You sell high-end technical outdoor wear (expectation), and the first time your customer wears her jacket in the rain, the seams fail, and she gets soaked (delivery). Your brand’s value has now dramatically decreased in your customer’s mind. In today’s world, she’s probably posted the fail to social media, making the negative experience exponentially worse for your brand.

Brand Strategy is how to manage the value of your brand.

Brand Strategy starts with developing the foundation of your brand (mission, vision, and values), which will inform your brand story and every aspect of your business. Clarifying your brand will allow your business to work with intention toward your long-term business goals. It will help your customers connect with your brand and become loyal fans. It will remind you and your people to make decisions that are aligned with your brand’s values. In the unfortunate event of a crisis, Brand Strategy can be the foundation that holds things together. It is difficult to imagine a situation where a strong Brand Strategy wouldn’t benefit the business.

Brand Execution is how your brand is visualized.

Once you have clarity of your brand’s foundation, a visual identity (logo, fonts, colors, imagery style, etc.) can be created. Having a structured visual identity will make running your business more efficient—no more searching for the correct logo file or guessing colors. It will allow your brand to remain consistent over time, building a strong connection with your customers and maintaining a clear representation of your brand as it is intended.

THE BRAND VALUE EQUATION

The goal is for your brand to consistently exceed expectations. For example, if your product is expected to be an 8 and you deliver a 10, your brand’s value will increase in your customer’s mind. Conversely, if you set the expectation to be a 9 and you deliver a 6, your brand’s value will decrease.