Based on my recent lecture at the Rome Business School Master of Fashion Management I’m sharing key insights about branding in the creative, design, fashion and luxury industry.
There are commonalities between the design / creative industry as well as the fashion industry. Both of them are highly visible, the emotional aspect is very important and products are tangible.
Branding starts with the DNA of the company: if the DNA is unique, the brand creates a differentiated position in the market compared to competitors. To understand brand equity the perspective of the customer is the starting point. Humans process information in the brain based on emotion and rationalization.
‘Humans are feeling creatures that think’. – Dr. Jill Bolte Taylor
We first feel and then find rational reasons. If the emotion is positive, customers will buy, be happy and eventually recommend the brand to their peers.
The brandig goal is to match the company’s identity with the customer’s image. The company chooses a name, brand story, brand values and defines guidelines for internal and external communication. The consumers think about a brand in a certain way. If the brand succeeds to be unique customers will be attracted and be loyal. That means increased brand value and profit growth.
Below you see a checklist to quickly evaluate your branding efforts:
- Is your brand communication relevant for customers?
- Are your brand activities integrated?
- Are your brand activities consistent?
- Is your brand authentic?
This blog was published before on LinkedIn.