Failing to understand how your brand is perceived could mean missing the early signs your brokerage is in trouble.
Do you really know what image your brokerage is putting out to the public? If your answer is ‘I think so’, your business could be in trouble before you even realise.
According to Dan Ratner, managing director of branding and communications agency Uberbrand, discrepancies may exist between the brand your brokerage wishes to convey and how the public really sees you.
“The first principle of branding is that ‘brand is in the eye of the beholder’. Brand is all about perception and relationships and, just like relationships, sometimes an organisation thinks they are perceived very positively but in reality they are on the edge of divorce.”
Taking a regular ‘brand audit’ can help you understand if your business brand is on track of if you need to redefine or improve perceptions, says Ratner.
“Organisations need to actually ask people what they think about a brand. That might sound obvious but when you work within an organisation it can be easy to lose sight of how it is actually perceived by the outside world.”
Ratner gives four tips for auditing your brokerage brand:
Understanding when to redefine your brand
A strong brand is evident when the company’s most important stakeholders and customers all hold similar perceptions. If a company asks a group of people to define its brand and all come back with different answers, it is time to work on strengthening the perception or re-defining the brand.
Canvass a range of people, not just the most vocal
When considering brand perceptions, it is important to ensure the views considered represent those of the entire audience rather than a select few. Feedback on social media or other channels tends to represent polarised views. Gain a more accurate picture by asking people who have had both extensive and limited exposure to the brand.
Consider internal and external feedback
Many organisations fail to succeed because they lack internal consistency. If people within the organisation have differing perceptions, it is impossible to communicate consistent messages that will help build brand equity. Any successful brand audit should offer a holistic view of the brand from both internal and external audiences such as:
· management
· employees
· sales force or channel partners
· current and prospective customers
· media
· analysts
· business and community leaders
· influencers and government regulators.
Cover all customer touch points
An individual’s brand perception is the sum of all their experiences with the organisation. Every interaction leaves an impression. It’s important to audit a brand across all areas of a business. An organisation has many customer touch points, all of which must be covered.
Dan Ratner said: “Organisations should make brand auditing an ongoing job for everyone. Every person in an organisation represents that organisation and can impact brand perception. Encourage everyone to share feedback about the brand and ensure everyone within the business knows exactly how the brand should be positioned. These are the first steps to creating a strong, consistent brand.”
