INSIGHT The Ownability of Brand
Ownership of a brand is a major indicator of its success or failure.
Building a successful brand is only possible when leaders and workers have a sense of ownership of the brand. It may seem obvious, but when you want your garden to grow, you water it and give it sunshine. You take care of it. You feel ownership for it. Brands are the same.
When companies struggle to communicate their value to their employees, customers, and investors, the underlying cause of this struggle is almost always at the brand level. Specifically, the issue is a lack of brand ownership. If leaders aren’t taking ownership of their brands, why will anyone else care about it?
We own our feelings and achievements. We may own a plot of land and even own a piece of the metaverse. Tangible or intangible, things that have value are seen as things we want to own. We develop responsibility and ascribe importance to them. We guide, build, and invest in them. To own something is to be accountable and to feel a sense of pride and security in the possession of it.
WHAT DOES OWNABLITY LOOK LIKE? Brands are very ownable. A successful brand is owned by nearly all individuals within the organization with the leaders being the most responsible. Leaders, employees, managers, and directors own the brand by upholding the integrity and values of the brand every day with each decision, interaction, and sale. They invest time, energy, and resources into fortifying the brand. And they take pride in contributing to the growth of the brand.
Cisco is the No.1 Company to work for in 2022. Their purpose statement “… to power an inclusive future for all….” is in line with 96% of employees who say it’s a great place to work and the 98% who state they take pride in working there. It’s clear the inclusive brand they have built includes the future of their workforce as well as their shareholders and customers. Cisco has earned nearly 39% of its market—demonstrating that a well-built brand, maintained and owned by leaders and workers alike, contributes to overall success.
Customers likewise have a sense of ownership of brands to which they are loyal. They may become aligned with a brand because of its values, and they may start to see their own values shifting to align with that of a brand (think dressing for the job you want vs. the job you have). Customers that feel this sense of ownership of a brand will even defend it when its reputation is challenged. They invest with their wallets and their detailed advocacy over dinner conversation. The pride consumers take in a brand they support can become culturally ingrained.
Mets fans. Need I say more?
THE VALUE OF OWNABILITY An ownable brand has value beyond loyalty, accountability, or profitability. A brand is ownable because it is something that can be controlled, shaped, and cultivated. Viewing a brand this way takes the mysticism out of branding and replaces it with design, intent, responsibility, and maintenance. Owned brands grow toward success in a planned route. This route is guided and fueled by the care, energy, and rigor of owners. It’s the owners and the ownability of a brand that will propel it far beyond those brands built on hope hiding behind a crafted logo or a strategy that lacks owners.
A brand that engenders ownership is one that differentiates itself from the competitive set, demonstrates value, inspires trust, communicates intent, and operates with transparency and efficiency. The secret sauce is in the consistent ritual of upholding the brand, enforcing its qualities and values, and insisting upon the integrity and growth of those values. This is what an owner does, and when it’s done well, ownership becomes contagious.
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Heather Furman
29 July, 2022