Good Branding Is Good Business
By Goliath Consulting Group
Your brand is your bond!
It is easy to focus on and get caught up with your product or service because it is the deliverable; the tangible asset you deliver to your customer. But what about your intangible asset… your brand? The value of your brand is equally as important as the quality and care put into your product or service. And, forgetting to cultivate your brand or ignoring it all together can have a negative impact on your company’s reputation and bottom-line.
There are several components of your brand identity. A brand is more than pretty colors and a cool logo. Although, those are part of a brand. Your restaurant’s brand includes everything from the logo and menu design, the interior atmosphere and aesthetic, organizational values, the quality, to the language used in advertising and promotions. The primary components of a brand identity, which essentially make up your customer's overall experience, include: brand image, voice/personality, messaging, and your restaurant ambiance (including food and staff). Each brand element should align with one another and your organizational values.
- Your restaurant’s personality/voice embodies the emotion, value, and human characteristics of your brand. This helps establish your brand in a way that is relatable to your customer and provides them with an overwhelming sense of value. Your brand’s voice will dictate the demeanor you use to communicate with your customers. Simply put, this defines the relationship between your customers and your brand.
- Your restaurant’s brand image includes items such as a logo, graphics, food photography, menu design, etc. These visual assets give the customer a visual perspective of what they can expect from your restaurant. It is crucial that these “visual assets” mesh with your business’ personality/voice and ambiance.
- Your restaurant’s messaging refers to the outlets and platforms you utilize while promoting your restaurant (social media, email marketing, snail mail, billboards, etc.). The outlets and platforms you use to promote your restaurant may impact your restaurant’s brand image. Messaging must be consistent with your brand’s personality and voice.
- Your restaurant’s ambiance incorporates the overall atmosphere that customers encounter while dining with you. This can include the music being played, the employee attitudes, lighting, interior design fixtures, and of course the quality of food.
Defining Your Brand First
As you begin the process of defining your brand, you should establish a few key aspects of your business. First, answer what it is you stand for. Knowing your values as a business will allow you to set standards and pave the direction for your brand. The eventual goal should be that customers can conclude exactly who you are and what your restaurant stands for from your brand. Second, know who your customers are. This should be an intimate knowledge of your customer’s wants, needs, and interests; not just a basic understanding of your general market. Finally, to reiterate, it is highly important to determine what it is that makes your restaurant stand out. Uncover your distinguishing competitive advantage and use your branding as the platform for displaying it.
Overall Brand Importance
Defining your brand gives you a much-needed edge in a highly saturated and competitive market. You are giving customers an immediate look into the value your restaurant offers and how it is different from every other restaurant. Defining your brand supplies more than just an image, it evokes emotion and perception. It builds a relationship. According to a two-year study done by Motista, a predictive intelligence company, customers who are emotionally connected to brands have a 306% higher customer lifetime value (CLV) on average. By defining your brand early and strategically you increase your chances of cultivating strong brand loyalty. A well-constructed brand definition will also provide guidance and motivation for your employees. Given that staff attitude and behavior play powerful roles in brand identity, it is important to your restaurant's success that employees know and reinforce the values and desired results of your brand.
Constructing a structurally sound brand definition lays the foundational success for any organization. By defining your brand, you can strengthen your ROI, align your leadership, increase workplace engagement, and establish your value in the eyes of your customer. Your brand should saturate your entire organization so much so that customers know what your restaurant stands for just by looking at your logo. Loyal and referring customers are the outcomes of a successfully defined brand. Good branding is good business.
Struggling to define your brand? Contact us today at Getresults@GoliathConsulting.com for expert advice.