In just about every professional sports league, there’s at least one team each season that makes a radical change to its logo, colors, and branding. Why?

It’s not because a brand refresh translates to a higher winning percentage on the field (though some have argued that’s true!). And it’s not because these new looks sell more jerseys. Actually, they definitely do, but that’s not what we’re talking about here, either.

The real answer: Sports teams can get away with it. What keeps fans connected to the team is not just a logo, but a set of shared experiences, a history, and a story about who they are. In other words, a logo is not the brand itself. Your brand is the overall perception and emotional connection your audiences have with your company. It’s your company’s reputation, built from client experience based on your firm’s values, personality, services, and visual identity (like a color and logo).

For your brand story to endure, there needs to be a lot more substance beyond an eye-catching logo.

Investing in a story 

In a world where paying attention is at a deficit, logos are important. They serve as a visual reminder of your brand. For clients, a logo can be a sign of familiarity, like a hug or handshake that welcomes them back. For prospects, a logo can act like a billboard — the thing that gets them to click on your homepage.

However, logos are not a reason to stick around. Nobody buys iPhones because of how the Apple icon looks. Many companies make the mistake of investing in the creative process of a logo before settling on the more essential elements of the brand. Believe it or not, developing a clear brand narrative can make or break your company.

How to nail a narrative 

Your brand story should grab people, and yes, ultimately, make them want to establish a relationship with you. But you can’t dupe them — there needs to be a value proposition at the end of the day.

How you describe that value proposition is the basis of your brand narrative. To nail it, several steps must be taken — ideally with the help of marketing and branding pros — to craft a compelling story.

These are the building blocks for an enduring brand story:

• Main characters: You must identify the people you’re trying to reach and build your brand strategy around them. Who are they and what do they want?
• Conflict: Every story has a villain or obstacle to overcome. What is it that your main characters are looking to solve? And how can you help them do it?
• Resolution: Skillfully tell your main characters why they should choose you. Develop key messaging statements that outline what you’re offering as a brand.

Workshopping your values 

Before you can outwardly express your value proposition in a compelling and transparent way, you must first refine it internally. This process should balance exploration (identifying what makes the company tick) and refinement (shaping how those values are projected), resulting in a cohesive brand narrative. Here’s how we make it happen:

• Alignment of messaging: Every branding journey should be built around establishing company values, key messages, and effective communication strategies. That means embarking on a messaging deep-dive to determine not just how your company should speak, but the underlying values that explain why your business exists. A good messaging exercise should look inward and maybe even make you think about your business differently. Like therapy, but more fun.
• Competitive analysis: Let’s be real. You’re not the only fish in the sea. While you should never let your competition dictate the formation of your brand, you don’t want to ignore them, either.
• Understanding audience: At this stage, you should perform a target audience analysis to truly understand your current and future clients, their needs and desires, and how your business can meet them.
• Build a plan: All of the elements above should be distilled into a comprehensive marketing plan that outlines your company’s branding and communication strategy, but also how to leverage it to achieve your goals.
• Report and refine: Monitor the success of your plan, then track key metrics to ensure your strategy is meeting predetermined goals. Going back to the drawing board is not a sign of failure; most brands need tweaking over time.

How we can help

Graham Media Partners has guided countless financial services companies through the crucial process of building a lasting brand narrative. We quickly get up to speed on your past marketing and branding efforts by reviewing materials already developed by your business. Our collaborative and comprehensive process is designed to produce the best possible outcomes. Most importantly, our approach doesn’t chase short-term wins. We believe in building something memorable, strategic, and lasting. Reach out to us today to learn more about our process!