All businesses start out with a manufacturing or service promise to make quality goods / services that customers find safe and reliable. Businesses with integrity and an ethical mindset make good on their promise and move a step forward by having their goods and services certified by reputable statutory bodies. This could be certifications, which, over time we have come to trust and rely upon in our decision making.
Let’s take the example which is close to many of us in the region – Buying or Leasing Real Estate. In this case we would look for an Agent who is certified by RERA and has her / his credentials. This RERA Number or certification gives us the confidence to deal with the Agent as we know s/he has been certified by a reputable government body. This is the first step for the Agent in delivering on her / his promise. But s/he is not the only one? So how does s/he take the next step to become a brand and differentiate in a competitive market?
Building a Brand
A certified business is one amongst many delivering on the promise to make goods / services that customers find safe and reliable. So, to stand out in the clutter, the need arises to evolve into a Brand. A brand is an intangible asset of a business that seeks to generate positive emotions within a consumer. The emotion could be one of trust, excitement, happiness, euphoria and much more. This asset takes a lot of time, effort and sweat to build. But the reward of this is that the intangible asset stays long after the consumer has interacted with the brand.
Sometimes brands can even elicit positive emotions from customers who have not or never will experience their brand. Let’s continue with our example of a Real Estate Agent. S/he has done the work to get licensed by RERA and has taken the step to seek out customers. The first batch of customer will be far and few, but that is not to dishearten. These very customers are the foundations on which the brand is built. By servicing them diligently and transparently the Agent will be able to build the intangible i.e. trust and satisfaction with the service. Over time all the positives will multiply manifold through various mediums – word of mouth (even today the most trusted medium), online reviews, honest customer testimonial ads and much more.
Depending on the industry and service, in a few months or sometimes a few years the business can build a brand that customers trust even before stepping through that door or buying the product.
Why be a SUPERBRAND?
In a crowded world of Brands, it is necessary to differentiate and be seen as a Superbrand. The Superbrands Organisation is acclaimed worldwide as an independent authority and arbiter of branding excellence. The Superbrands Organisation, through an independent and diligent voting process in over 80 countries, votes to identify those brands that have excelled in branding and maintain a consistent brand image and discipline. These recognised brands are VOTED SUPERBRANDS.
A Superbrand offers consumers more than physical goods and services. The Superbrands Council recognizes these brands for their high intangible strengths of trust, positive reactions, and consistent positive brand messaging in the public domain. A recognised Superbrand is an acknowledgement of not just quality products and services but a recognition of the highest level of trust a consumer places in your brand. This recognition by Superbrands organisation further helps to build a new consumer base on the intangible assets of the brand which as shown is always good for business. All those who possess assets like houses or buildings know that, even with the paint, the house of building will survive several years, though maybe lesser than a painted, well-maintained building.Getting Superbrands status is like that paint, that gloss on the house or the building.
Written by Niranjan Gidwani,Consultant Director/Member UAE Superbrands Council and Former CEO Eros Group Dubai UAE