It is natural for marketers to think of their brands as assets. After all, marketing is a business function and businesses need to make money. They create and nurture brands to do so.
But even though this perspective is not wrong, I believe it is counterproductive. I have argued in the past that brands are better thought of as effects rather than causes. I still believe this. But let me say it more simply: The best attitude for you to have about your brand is that it is an obligation. An obligation to behave in a very specific way. You can decide what you want that to be. Do you want your brand to stand for low prices? Then do what it takes to have the lowest prices. Consistently. Do you want your brand to stand for cutting edge coolness? Then make sure you are creating the fads and staying ahead of the pack.
The benefits that brands provide to businesses are clear. Higher margins, greater customer loyalty… But don’t forget for a moment that you pay for these benefits. You pay for them by agreeing to relinquish some of your liberty. When you have a brand, you cannot simply do whatever you want. You have to keep the promise you’ve made to your customers. Sometimes that is inconvenient. Sometimes it requires hard work and tough choices. If you are willing to take on that obligation and do the hard work day in and day out of keeping your promise, then you will have a strong brand and reap the benefits. If you’re not willing to make and keep a promise, then don’t bother trying to create or manage a brand. Your customers will know and you’ll have wasted your money.
It’s that simple.
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