If there’s one thing I’ve learnt from Comm 101 class, it’s that branding is everything.
Why?
A company is nothing without a good brand. Consumers like to support brands that they trust and believe in. Every dollar made by the company is a vote of confidence the consumer is paying to sustain what this company represents. As Elaine says, “a brand is the promise that a company makes to its customers”.
But what happens when this promise is broken?
From Hilary Carrell’s blog post on TOMS shoes, she examines how the business’s philanthropic aspect helps increase profitability. TOMS is not selling any ordinary shoes; they sell “feel-good shoes”. This type of shoe makes you feel better about yourself upon purchase. Sounds magical, doesn’t it? Well, that’s just the magic of branding.
However, branding is a very fragile creature. In July 2011, TOMS founder Blake Mycoskie spoke at an event sponsored by an Anti-Gay Christian group, unaware of the group’s stance on homosexuality. This news broke out and lost the trust of customers because it did not correspond to the company’s image.
TOMS exemplifies strong banding but can also point out how careful a company must be in maintaining their image.
TOMS CEO Blake Mycoskie at an Argentina shoe giveaway