The 8th ingredient: Relevant share in the mind of the consumer
What brings about the creation of the relevant share in the minds of the consumers?
A unique and pertinent story invites the consumer to take part in that story. That is why the brand creators have to be great storytellers because without the story the brand is plain boring. What is a brand without a good story? It is not a brand at all. It is not a brand that will create loyal followers or drive sales long-term.
Some Croatian brands, for example, take great pride in their tradition and quality, yet they haven’t narrated a story about the history and the people behind the brand so how could this brand build anything special in terms of its relationship with its consumers based on these two non-defining attributes (tradition and quality).
If your brand has all the seven ingredients of branding, it will have the last ingredient – the relevant share in the mind of the consumer, which will be reflected in the growing market share. For example, after we rebranded Froddo, the number of international buyers grew by 60% and 74% more footwear was sold in the foreign markets compared to the same period the year before. This is a proof how relevant mind share positively influences the market share.
It is important however to have a client who fully trusts you and understands why you want to implement changes in their current brand. Without a good two-way communication, none of the 8 ingredients can help that brand. The owners of the brand have to let go of the brand for just a little while, and when the strategy is over they have to believe in it, in each of its elements. Without such trust there won’t be a good partnership between the client and the agency, which will result in a bad partnership between the brand and the consumer.
I would say that the 9th ingredient is a client who is willing to implement the strategy, who believes in his/her own brand and who is ready to take on the branding challenge.