Humans have used brands as a way to distinguish themselves for over 4000 years. The practise of branding is believed to have begun with the ancient Egyptians, who began branding their livestock as early as 2,700 BCE. Simply put, a brand is a tool an individual, or group of individuals, can use to set themselves apart, establish authenticity, identify ownership or confer credibility.
For businesses, establishing a brand identity is particularly important. Customers who are loyal to a brand will buy more products/services, more frequently and are usually willing to pay a higher price. In fact, “loyal customers are worth 10x as much as their first purchase.”
Imagine two identical mechanics open up next door to each other. Both offer the exact same services, have the same credentials and initially charge the same price. One mechanic decides to focus on establishing a brand (let’s call him mechanic 1) while the other (mechanic 2) does not.
So, mechanic 1 decides to tell his story to the world. He grew up around cars; he’s got motor oil running through his veins. His father was a mechanic, just like his father before him. Mechanic 1 even spent several years racing stock cars back in the 70s, where he earned the nickname Flash.
Suddenly, mechanic 1 has a brand identity. He renames his business Flash’s Auto Shop. He hangs old photos of his stock car racing days upon the walls. He decides to sponsor a stock car driver and does some advertising at the races. He hires a charming, talented young writer to come up with a slogan for his business. “We’ll get you back on the road as quick as a flash.” Because of these choices, Flash’s business begins to pick up, so he decides to increase his prices by 15%.
Now, at this point, studies have shown that he will lose the bargain shopper. They will head next door to mechanic 2 simply because he charges less.
But this doesn’t concern Flash. You see, he has created a loyal customer base and brand credibility. After all, who wouldn’t want a former stock car driver working on their car? He’s obviously going to know what he’s doing. And most of us, especially when it comes to something like fixing our cars, we want it done right. Even if that means we have to pay a little bit more.
Eventually, with his additional revenue, Flash decides to buy out the mechanic next door, tear down the adjoining wall and expand his shop. He now has no competition and more space to take on additional clients. Flash’s Auto Shop becomes synonymous with reliable, professional auto repair. All because he decided to invest a little time, energy and resources into establishing his brand.
When you boil it down to its bare bones, creating a brand is about connecting with people. And, the best way to establish a connection with someone is by sharing your story with them. Make yourself human, be relatable and inspire a positive emotional response. Once you can do that, you’ll quickly turn consumers into loyal customers.
Now, I know what you’re thinking. How do we inspire a positive emotional response with our brand?
Well, that’s where we come in! Finding the right words to articulate your brand’s story can seem daunting, if not nearly impossible. But not for us! Here at Jester, we have the experience and talent to help you discover your company’s true essence, and the knowledge and skills to support you in sharing your story with the world. From logo design, advertising and marketing collateral to photography, video production and the creation of innovative, immersive digital content, we are a one-stop-shop for all your branding and creative services needs.
Your story deserves to be told, and we want to help you do it!