How much is brand consistency worth?
This might not be a question you find yourself asking often. Even though we spend a tremendous amount of time discussing branding, plenty of companies go forth into that dark night...uhh... move forward with their branding plans, without ever measuring the growth benefits or possible setbacks. Luckily, for all of us, Lucidpress, in partnership with Demand Metric, surveyed over 200 organizations to better understand the impact and value of brand consistency.
Citing the study which says, "Less than 10 percent report that their brand presentation is very consistent, but almost 90 percent agree that it is important to present their brands consistently in all the places people might encounter them," we can see how true it is that plenty of companies are not clear on branding. For a company like Lucidpress, who says they are big believers in using branding to drive growth, the study revealed some new insights, and confirmed plenty more, with the overall goal of understanding the impact of having a consistent brand and how important it is to maintain brand consistency.
Here's a couple of the biggest insights from the survey you want to know:
- For organizations with brand consistency issues, the estimated average revenue increase attributed to always presenting the brand consistently is 23%.
- Study participants whose brands are consistently presented are 3-4 times more likely to enjoy excellent brand visibility than those with inconsistent brand presentation.
- 95% of organizations have branding guidelines, but only 1/4th have formal guidelines that are consistently enforced.
- Over 60% of organizations report that materials are always, often or sometimes created that don't conform to brand guidelines.
And the real eye-opener:
- The greatest negative impact of inconsistent brand usage is the creation of confusion in the market, reported by 71% of study participants.
Find The State Of Knowing
Your brand is your story, your connection, the truth you weave into the fabric of who your company is, what it believes in, and how it creates something different for its people. Without consistent branding, you might still believe in the same things, and be living the same story... but how will anyone know? If done correctly, your consistency will create a state of knowing for your clients. Meaning, they will know your story, they will believe in your story, and they will even retell your story for you, that's how clear and consistent it is. You've told them the story of your brand in such a way that there is no question, and it feels whole. This should be your ultimate branding goal. Total clarity; a state of knowing.
This can be achieved by:
- Creating a branding strategy for both the long, and short term.
- Creating guidelines that will ensure the implementation of this strategy.
- Consistently enforcing these guidelines to avoid confusion.
We know this because, through their study, Lucidpress found that, "When formal guidelines exist that are enforced, the firms that have them are more than twice as likely to also see a consistent presentation of their brand." Twice as likely seems like great odds to me.
So, Who Is In Charge Of Implementation?
I know you won't be surprised to hear me suggest that even a virtual CMO should be tasked with these duties. If you go the entire way of creating a branding strategy, designing guidelines, and then allow any and everyone to murky the water... your efforts will have been wasted. This entire process should be in the hands of someone with the experience to execute each step flawlessly.
From those points, it's easy to see the weight consistent branding carries. If you want to know more, head over here, where you can see additional quick facts, key insights, and charts. If you've read enough to understand where your gaps are, it's time to get to work. Based on these numbers, you'll be glad you did.