Billionaire Brand Wisdom #3

It should come as no surprise that the man who was at the helm of Disney for so long has a strong grasp on brand. Brands don’t come much stronger, more recognisable or more fiercely protected than Disney.

Here’s what Michael Eisner has said:

“A brand is a living entity, and it is enriched or undermined cumulatively over time, the product of a thousand small gestures.”

I like everything about this statement.

I like the nuanced thinking behind it.

I like the fact that it recognises the need for a focused, consistent approach to brand management.

I like that it brings in behaviour, not just promises.

And I like that it immediately scotches the notion that a brand is just something visual, cosmetic, or God forbid, a logo.

As everyone whose day job is in branding will bang on about (ahem), a brand exists in the mind of the consumer. So everything a business does, as well as says, needs to be faithful to the brand promise.

Another billionaire, Warren Buffett, said:

“It takes 20 years to build a reputation and five minutes to ruin it.”

But first, and most importantly, you need to decide what your brand actually stands for. What reputation are you trying to build and keep alive and well?

A surprising number of businesses I’ve worked with over the years have a stated Vision, or Mission, and of course Values, but nothing that amounts to an actual Proposition. A company’s ambition to be ‘The Best’, ‘The Biggest’ or ‘Number 1’ is not in and of itself compelling to a customer. The brand needs to add real value somehow. It needs to speak to the human needs and expectations of the buyer.

There needs to be a compelling story, something that builds the case for why someone should do business with you instead of your (many) competitors.

Crucially, it should encapsulate and articulate your brand truths and reflect your true behaviour.

The truth is in there. You just might need a bit of help to reveal it.