What Exactly is a Brand, and Why Should I or My Company Care?
Investing in high-quality research for your brand will not only help your company grow but will keep your company relevant.
The very idea of branding for a company has evolved exponentially over the years. From the advertising boom of the 1950s to the digital era we live in today, keeping pace has become a never-ending marathon.
A brand is the “intangible sum of a product’s attributes,” according to the father of advertising, David Ogilvy, and the most valuable asset they have.
“The internet has upended how consumers engage with brands,” says David Edelman, Aetna’s Chief Marketing Officer. “It is transforming the economics of marketing and making obsolete many of the function’s traditional strategies and structures. For marketers, the old way of doing business is unsustainable.”
Due to the erratic and rather unpredictable behavior of modern consumers, a brand’s development is constantly challenged; its very meaning is forced to fit new molds to match the hyperbolic changes. What’s the solution to not only keep pace but set the pace? It begins with research.
Let’s dive in head first on this: brands need to conduct key research on a regular basis in order to stay relevant, profitable, and useful. If research is not conducted regularly, you risk falling to the wayside; customers are no longer loyal to your brand, and the competition wins.
In our new guide, we discuss the current changes happening in the market research industry, what companies are doing to adapt to those changes to collect relevant data, and how to put the data to use in everyday practice.
There may be a change in consumer’s buying habits, it’s brand impact, and how we collect data on such, but it’s not as intimidating as one might think. The common denominator to success: conducting brand research.
Download your free copy and gather insights from leading experts:
- Nicolas Deskos, Bynder
- Kathryn Korostoff, Research Rockstar
And as the saying goes, you never get a second chance to make a first impression. In the digital realm we live in, first impressions precede you thanks to Google and those who interact with your brand form an opinion of the brand before they talk with someone at your company or meet someone in person. This reality forces us to always have our best foot forward, especially when your back is turned. After all, as Amazon’s Founder, Jeff Bezos says, “Branding is what people say about you when you’re not in the room.”
Put simply, brand research methods and programs allow you to always have that best foot forward and your best impression at the helm of your growing business at all times.